Wedbush Reaffirms “Outperform” Rating for Verint Systems (NASDAQ:VRNT)

Wedbush reaffirmed their outperform rating on shares of Verint Systems (NASDAQ:VRNT) in a research report report published on Thursday, Benzinga reports. Wedbush currently has a $38.00 price objective on the technology company’s stock.

Several other research analysts have also issued reports on the company. Evercore ISI lowered their target price on Verint Systems from $34.00 to $30.00 and set an in-line rating for the company in a research report on Thursday, September 5th. StockNews.com raised Verint Systems from a hold rating to a buy rating in a research report on Thursday, September 5th. Jefferies Financial Group lowered their price objective on Verint Systems from $32.00 to $28.00 and set a hold rating for the company in a research report on Thursday, September 5th. Needham & Company LLC reissued a buy rating and issued a $40.00 price objective on shares of Verint Systems in a research report on Wednesday. Finally, TD Cowen lowered their price objective on Verint Systems from $40.00 to $36.00 and set a buy rating for the company in a research report on Thursday, September 5th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to data from MarketBeat, Verint Systems presently has an average rating of Moderate Buy and an average price target of $34.67.

Verint Systems Stock Up 0.5 %

Shares of NASDAQ:VRNT opened at $25.57 on Thursday. The firm has a market cap of $1.58 billion, a P/E ratio of 53.27, a P/E/G ratio of 1.05 and a beta of 1.24. The company has a quick ratio of 1.36, a current ratio of 1.41 and a debt-to-equity ratio of 0.49. Verint Systems has a 12-month low of $18.41 and a 12-month high of $38.17. The business has a fifty day simple moving average of $30.51 and a 200 day simple moving average of $31.39.

Verint Systems (NASDAQ:VRNT) last announced its earnings results on Wednesday, September 4th. The technology company reported $0.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.04). The company had revenue of $210.17 million for the quarter, compared to the consensus estimate of $212.81 million. Verint Systems had a return on equity of 16.17% and a net margin of 6.78%. The firm’s revenue for the quarter was up .0% on a year-over-year basis. During the same period in the prior year, the business earned $0.22 earnings per share. Analysts predict that Verint Systems will post 1.97 earnings per share for the current year.

Insider Activity

In other news, President Elan Moriah sold 7,160 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.85, for a total value of $185,086.00. Following the completion of the sale, the president now directly owns 139,251 shares in the company, valued at approximately $3,599,638.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, President Elan Moriah sold 7,160 shares of the firm’s stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $25.85, for a total value of $185,086.00. Following the completion of the sale, the president now directly owns 139,251 shares in the company, valued at approximately $3,599,638.35. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Grant A. Highlander sold 3,389 shares of the firm’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $25.85, for a total value of $87,605.65. Following the completion of the sale, the chief financial officer now owns 131,267 shares of the company’s stock, valued at $3,393,251.95. The disclosure for this sale can be found here. Insiders sold a total of 33,811 shares of company stock worth $874,014 in the last three months. Company insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Verint Systems

Hedge funds have recently added to or reduced their stakes in the stock. Nomura Holdings Inc. boosted its stake in Verint Systems by 565.7% during the 4th quarter. Nomura Holdings Inc. now owns 58,250 shares of the technology company’s stock valued at $1,574,000 after purchasing an additional 49,500 shares during the last quarter. Norges Bank purchased a new position in shares of Verint Systems in the 4th quarter worth approximately $18,601,000. Vanguard Group Inc. boosted its stake in shares of Verint Systems by 1.0% in the 4th quarter. Vanguard Group Inc. now owns 7,182,580 shares of the technology company’s stock worth $194,145,000 after buying an additional 73,592 shares during the last quarter. Wellington Management Group LLP purchased a new position in shares of Verint Systems in the 4th quarter worth approximately $34,172,000. Finally, Nebula Research & Development LLC purchased a new position in shares of Verint Systems in the 4th quarter worth approximately $859,000. Institutional investors and hedge funds 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.