Verint Systems (NASDAQ:VRNT) PT Lowered to $35.00

Verint Systems (NASDAQ:VRNT) had its price target cut by equities research analysts at Wedbush from $45.00 to $35.00 in a research note issued to investors on Thursday, Marketbeat Ratings reports. The firm currently has an “outperform” rating on the technology company’s stock. Wedbush’s target price would suggest a potential upside of 44.81% from the company’s previous close.

A number of other equities research analysts have also weighed in on VRNT. Oppenheimer lowered shares of Verint Systems from an “outperform” rating to a “market perform” rating in a report on Thursday. Royal Bank of Canada decreased their price objective on shares of Verint Systems from $46.00 to $38.00 and set an “outperform” rating for the company in a report on Thursday. Finally, StockNews.com started coverage on shares of Verint Systems in a report on Thursday, August 17th. They set a “buy” rating for the company. Three analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, Verint Systems currently has an average rating of “Moderate Buy” and a consensus target price of $42.00.

Verint Systems Stock Down 2.8 %

VRNT stock opened at $24.17 on Thursday. The company’s 50 day simple moving average is $34.71 and its 200-day simple moving average is $35.75. The firm has a market capitalization of $1.55 billion, a PE ratio of -241.68, a P/E/G ratio of 1.73 and a beta of 0.99. Verint Systems has a 12 month low of $23.97 and a 12 month high of $43.68. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.26 and a quick ratio of 1.23.

Verint Systems (NASDAQ:VRNT) last announced its quarterly earnings data on Wednesday, September 6th. The technology company reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.57 by ($0.09). The firm had revenue of $210.20 million for the quarter, compared to analysts’ expectations of $225.10 million. Verint Systems had a net margin of 1.61% and a return on equity of 15.42%. The business’s quarterly revenue was down 5.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.25 EPS. Equities analysts expect that Verint Systems will post 1.78 earnings per share for the current fiscal year.

Insider Activity at Verint Systems

In related news, Director Richard N. Nottenburg sold 677 shares of Verint Systems stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $36.96, for a total value of $25,021.92. Following the sale, the director now directly owns 8,531 shares in the company, valued at approximately $315,305.76. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, CEO Dan Bodner sold 6,688 shares of Verint Systems stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $37.03, for a total value of $247,656.64. Following the sale, the chief executive officer now directly owns 1,093,734 shares in the company, valued at approximately $40,500,970.02. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Richard N. Nottenburg sold 677 shares of Verint Systems stock in a transaction dated Monday, June 12th. The shares were sold at an average price of $36.96, for a total transaction of $25,021.92. Following the completion of the sale, the director now owns 8,531 shares in the company, valued at $315,305.76. The disclosure for this sale can be found here. Insiders have sold a total of 149,135 shares of company stock worth $5,397,326 in the last ninety days. 2.20% of the stock is owned by insiders.

Institutional Trading of Verint Systems

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Nuveen Asset Management LLC raised its position in shares of Verint Systems by 3.2% during the 2nd quarter. Nuveen Asset Management LLC now owns 734,755 shares of the technology company’s stock worth $25,761,000 after buying an additional 23,036 shares in the last quarter. Alliancebernstein L.P. raised its position in shares of Verint Systems by 0.7% during the 2nd quarter. Alliancebernstein L.P. now owns 78,754 shares of the technology company’s stock worth $2,761,000 after buying an additional 573 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Verint Systems by 43.6% during the 2nd quarter. Wells Fargo & Company MN now owns 40,264 shares of the technology company’s stock worth $1,412,000 after buying an additional 12,224 shares in the last quarter. Woodline Partners LP raised its position in shares of Verint Systems by 49.8% during the 2nd quarter. Woodline Partners LP now owns 23,627 shares of the technology company’s stock worth $828,000 after buying an additional 7,852 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd bought a new stake in shares of Verint Systems during the 2nd quarter worth about $533,000.

Verint Systems Company Profile

Verint Systems Inc provides customer engagement solutions worldwide. It offers various applications for use in Forecasting and Scheduling, which understands the work needed to meet and exceed customer expectations; Quality and Compliance that uses automation and analytics for customer interactions for attended and self-service channels; Interaction Insights, which extracts insights from structured and unstructured customer interactions and activities; Real-Time Work that supports in-the-moment workforce activities; Engagement Channels, an application for messaging, social, chat, email, and interactive voice response; Conversational AI, an intelligent virtual assistant application to enable human-like conversations across every channel; Knowledge Management, which enables humans and bots to deliver service with tools.