Royal Bank of Canada Cuts Verint Systems (NASDAQ:VRNT) Price Target to $29.00

Verint Systems (NASDAQ:VRNT) had its target price reduced by Royal Bank of Canada from $36.00 to $29.00 in a report released on Thursday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

VRNT has been the subject of a number of other reports. Jefferies Financial Group increased their price target on Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a research report on Friday, December 6th. Evercore ISI cut their target price on Verint Systems from $34.00 to $23.00 and set an “in-line” rating for the company in a research note on Thursday. StockNews.com raised Verint Systems from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Needham & Company LLC cut their price objective on Verint Systems from $40.00 to $30.00 and set a “buy” rating for the company in a report on Thursday. Four research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $31.67.

Verint Systems Trading Down 13.4 %

Shares of VRNT opened at $18.73 on Thursday. The firm has a market cap of $1.17 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 0.97 and a beta of 1.29. 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 has a 52-week low of $18.17 and a 52-week high of $38.17. The business’s fifty day moving average is $23.88 and its 200-day moving average is $24.74.

Verint Systems (NASDAQ:VRNT) last released its quarterly 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 firm had revenue of $253.50 million for the quarter, compared to the consensus estimate of $276.82 million. During the same quarter last year, the firm posted $1.07 earnings per share. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. Equities analysts anticipate that Verint Systems will post 1.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Plato Investment Management Ltd purchased a new stake in shares of Verint Systems during the fourth quarter valued at $43,000. Parkside Financial Bank & Trust bought a new stake in Verint Systems during the 4th quarter valued at approximately $52,000. Headlands Technologies LLC bought a new stake in Verint Systems in the 4th quarter valued at $52,000. Sterling Capital Management LLC grew its holdings in Verint Systems by 808.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company’s stock valued at $53,000 after buying an additional 1,713 shares in the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in 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 purchasing an additional 613 shares in the last quarter. 94.95% of the stock is owned by hedge funds and other institutional investors.

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.