Evercore ISI Lowers Verint Systems (NASDAQ:VRNT) Price Target to $23.00

Verint Systems (NASDAQ:VRNT) had its price target dropped by research analysts at Evercore ISI from $34.00 to $23.00 in a research report issued on Thursday,Benzinga reports. The firm presently has an “in-line” rating on the technology company’s stock. Evercore ISI’s price target suggests a potential upside of 28.85% from the stock’s previous close.

VRNT has been the subject of a number of other reports. StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Needham & Company LLC dropped their target price on Verint Systems from $40.00 to $30.00 and set a “buy” rating for the company in a report on Thursday. Royal Bank of Canada reaffirmed an “outperform” rating and issued a $36.00 target price on shares of Verint Systems in a research note on Wednesday, January 15th. Finally, Jefferies Financial Group boosted their price target on shares of Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Verint Systems has a consensus rating of “Moderate Buy” and a consensus target price of $30.33.

Verint Systems Trading Down 4.7 %

Shares of VRNT stock opened at $17.85 on Thursday. Verint Systems has a fifty-two week low of $17.64 and a fifty-two week high of $38.17. The firm has a market capitalization of $1.11 billion, a P/E ratio of 18.99, a PEG ratio of 0.97 and a beta of 1.29. The stock’s fifty day moving average is $23.75 and its two-hundred day moving average is $24.69. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32.

Verint Systems (NASDAQ:VRNT) last posted its quarterly earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). The business had revenue of $253.50 million for the quarter, compared to analyst estimates of $276.82 million. Verint Systems had a return on equity of 15.79% and a net margin of 8.49%. The business’s revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.07 earnings per share. Research analysts expect that Verint Systems will post 1.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verint Systems

Several large investors have recently modified their holdings of VRNT. Clark Capital Management Group Inc. raised its holdings in Verint Systems by 0.4% in the 4th quarter. Clark Capital Management Group Inc. now owns 142,398 shares of the technology company’s stock valued at $3,909,000 after buying an additional 515 shares during the period. PNC Financial Services Group Inc. increased its position in shares of Verint Systems by 45.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock valued at $54,000 after acquiring an additional 613 shares during the last quarter. Philadelphia Trust Co. raised its stake in shares of Verint Systems by 0.9% in the 4th quarter. Philadelphia Trust Co. now owns 106,800 shares of the technology company’s stock valued at $2,932,000 after acquiring an additional 1,000 shares during the period. Swiss National Bank lifted its holdings in shares of Verint Systems by 1.2% in the 4th quarter. Swiss National Bank now owns 121,900 shares of the technology company’s stock worth $3,346,000 after acquiring an additional 1,400 shares during the last quarter. Finally, KBC Group NV boosted its position in shares of Verint Systems by 75.0% during the 4th quarter. KBC Group NV now owns 3,380 shares of the technology company’s stock worth $93,000 after purchasing an additional 1,449 shares during the period. Institutional investors and hedge funds own 94.95% of the company’s stock.

About Verint Systems

Verint Systems Inc provides customer engagement solutions worldwide. It offers forecasting and scheduling, channels and routing, knowledge management, fraud and security solutions, quality and compliance, analytics and insights, real-time assistance, self-services, financial compliance, and voice pf the consumer solutions.