Wedbush Cuts Verint Systems (NASDAQ:VRNT) Price Target to $30.00

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

VRNT has been the topic of several other research reports. Needham & Company LLC reduced their price objective on Verint Systems from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday. Evercore ISI decreased their price target on Verint Systems from $34.00 to $23.00 and set an “in-line” rating on the stock in a report on Thursday. StockNews.com cut Verint Systems from a “buy” rating to a “hold” rating in a report on Thursday. Royal Bank of Canada dropped their target price on shares of Verint Systems from $36.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday. Finally, Jefferies Financial Group increased 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 equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

Verint Systems Stock Performance

Shares of NASDAQ VRNT opened at $17.85 on Friday. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.99, a PEG ratio of 0.97 and a beta of 1.29. The business has a fifty day simple moving average of $23.75 and a 200 day simple moving average of $24.67. Verint Systems has a one year low of $17.64 and a one year high of $38.17. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

Verint Systems (NASDAQ:VRNT) last issued its earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). The company had revenue of $253.50 million during 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 company’s quarterly revenue was down 4.4% on a year-over-year basis. During the same period in the previous year, the company posted $1.07 earnings per share. Sell-side analysts expect that Verint Systems will post 1.92 EPS for the current year.

Institutional Investors Weigh In On Verint Systems

A number of hedge funds have recently made changes to their positions in VRNT. Mackenzie Financial Corp lifted its stake in shares of Verint Systems by 142.6% in the fourth quarter. Mackenzie Financial Corp now owns 97,757 shares of the technology company’s stock worth $2,683,000 after acquiring an additional 57,465 shares during the period. Sherbrooke Park Advisers LLC bought a new stake in shares of Verint Systems in the 4th quarter valued at $768,000. ProShare Advisors LLC increased its position in shares of Verint Systems by 32.4% during the fourth quarter. ProShare Advisors LLC now owns 22,769 shares of the technology company’s stock worth $625,000 after buying an additional 5,571 shares during the period. Man Group plc bought a new position in Verint Systems during the fourth quarter worth $221,000. Finally, Millennium Management LLC lifted its holdings in Verint Systems by 62.1% in the fourth quarter. Millennium Management LLC now owns 516,438 shares of the technology company’s stock valued at $14,176,000 after buying an additional 197,893 shares during the period. 94.95% of the stock is currently owned by institutional investors and hedge funds.

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.