Verint Systems (NASDAQ:VRNT) Price Target Cut to $30.00 by Analysts at Wedbush

Verint Systems (NASDAQ:VRNT) had its price objective trimmed by Wedbush from $38.00 to $30.00 in a research report sent to investors on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company’s stock.

Several other research analysts have also commented on the company. StockNews.com lowered Verint Systems from a “buy” rating to a “hold” rating in a report on Thursday. Needham & Company LLC cut their price objective on shares of Verint Systems from $40.00 to $30.00 and set a “buy” rating for the company in a research report on Thursday. Royal Bank of Canada decreased their target price on shares of Verint Systems from $36.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday. Jefferies Financial Group raised their price target on shares of Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Finally, Evercore ISI decreased their price objective on Verint Systems from $34.00 to $23.00 and set an “in-line” rating on the stock in a report on Thursday. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $30.33.

Verint Systems Stock Performance

NASDAQ:VRNT opened at $17.85 on Friday. Verint Systems has a twelve month low of $17.64 and a twelve month high of $38.17. The company has a market cap of $1.11 billion, a P/E ratio of 18.99, a P/E/G ratio of 0.97 and a beta of 1.29. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The company’s 50-day moving average price is $23.75 and its 200-day moving average price is $24.69.

Verint Systems (NASDAQ:VRNT) last issued its earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.28). Verint Systems had a return on equity of 15.79% and a net margin of 8.49%. The company had revenue of $253.50 million for the quarter, compared to analyst estimates of $276.82 million. During the same quarter in the prior year, the firm earned $1.07 earnings per share. The company’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, sell-side analysts forecast that Verint Systems will post 1.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verint Systems

Hedge funds have recently made changes to their positions in the stock. State Street Corp raised its position in Verint Systems by 1.5% in the third quarter. State Street Corp now owns 1,573,801 shares of the technology company’s stock valued at $39,864,000 after purchasing an additional 23,400 shares during the period. Geode Capital Management LLC raised its holdings in shares of Verint Systems by 0.3% in the 3rd quarter. Geode Capital Management LLC now owns 1,500,087 shares of the technology company’s stock valued at $38,004,000 after buying an additional 4,034 shares during the period. Raymond James Financial Inc. acquired a new position in Verint Systems during the 4th quarter worth about $5,276,000. Quantbot Technologies LP acquired a new position in Verint Systems during the 3rd quarter worth about $58,000. Finally, Fort Washington Investment Advisors Inc. OH boosted its holdings in Verint Systems by 32.4% during the 4th quarter. Fort Washington Investment Advisors Inc. OH now owns 775,869 shares of the technology company’s stock valued at $21,298,000 after acquiring an additional 189,860 shares during the period. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Verint Systems Company Profile

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.