Needham & Company LLC Reaffirms Buy Rating for Verint Systems (NASDAQ:VRNT)

Verint Systems (NASDAQ:VRNTGet Rating)‘s stock had its “buy” rating reissued by equities research analysts at Needham & Company LLC in a note issued to investors on Wednesday, TipRanks reports. They presently have a $61.00 price objective on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 22.51% from the company’s current price.

Several other equities analysts have also recently commented on VRNT. Zacks Investment Research cut shares of Verint Systems from a “buy” rating to a “hold” rating in a report on Thursday, June 2nd. Royal Bank of Canada boosted their price target on shares of Verint Systems from $57.00 to $61.00 and gave the company an “outperform” rating in a report on Wednesday, March 30th. The Goldman Sachs Group lowered shares of Verint Systems from a “buy” rating to a “neutral” rating and set a $57.00 price objective for the company. in a research note on Tuesday, April 12th. StockNews.com lowered shares of Verint Systems from a “buy” rating to a “hold” rating in a research note on Friday, April 8th. Finally, TheStreet lowered shares of Verint Systems from a “b-” rating to a “c” rating in a research note on Tuesday, April 12th. Three investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. Based on data from MarketBeat.com, Verint Systems presently has a consensus rating of “Buy” and an average target price of $62.20.

NASDAQ VRNT traded down $2.67 on Wednesday, hitting $49.79. 15,881 shares of the stock were exchanged, compared to its average volume of 458,278. Verint Systems has a 52-week low of $41.46 and a 52-week high of $56.39. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.37 and a quick ratio of 1.36. The company has a market capitalization of $3.22 billion, a price-to-earnings ratio of -713.04, a P/E/G ratio of 2.21 and a beta of 0.77. The company’s 50-day moving average price is $52.11 and its two-hundred day moving average price is $51.26.

Verint Systems (NASDAQ:VRNTGet Rating) last posted its quarterly earnings data on Tuesday, June 7th. The technology company reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.47 by $0.05. Verint Systems had a net margin of 1.65% and a return on equity of 12.68%. The firm had revenue of $219.25 million for the quarter, compared to analysts’ expectations of $215.52 million. During the same period in the previous year, the company posted $0.23 EPS. The company’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities analysts predict that Verint Systems will post 1.68 EPS for the current fiscal year.

In other Verint Systems news, Director R Reid French, Jr. bought 4,700 shares of the stock in a transaction that occurred on Wednesday, April 13th. The shares were acquired at an average price of $52.70 per share, with a total value of $247,690.00. Following the completion of the purchase, the director now directly owns 7,514 shares in the company, valued at approximately $395,987.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Dan Bodner sold 40,120 shares of the company’s stock in a transaction dated Thursday, April 7th. The shares were sold at an average price of $50.49, for a total transaction of $2,025,658.80. Following the completion of the sale, the chief executive officer now directly owns 976,483 shares in the company, valued at approximately $49,302,626.67. The disclosure for this sale can be found here. Insiders have sold 105,116 shares of company stock valued at $5,354,750 in the last ninety days. 2.40% of the stock is owned by company insiders.

Institutional investors have recently modified their holdings of the business. Lannebo Fonder AB grew its stake in Verint Systems by 8.5% during the fourth quarter. Lannebo Fonder AB now owns 64,000 shares of the technology company’s stock worth $3,361,000 after buying an additional 5,000 shares during the last quarter. Phocas Financial Corp. grew its stake in shares of Verint Systems by 82.7% during the third quarter. Phocas Financial Corp. now owns 150,427 shares of the technology company’s stock valued at $6,738,000 after purchasing an additional 68,093 shares during the last quarter. KRS Capital Management LLC bought a new stake in shares of Verint Systems during the fourth quarter valued at approximately $36,000. GSA Capital Partners LLP bought a new stake in shares of Verint Systems during the fourth quarter valued at approximately $301,000. Finally, Cornerstone Investment Partners LLC bought a new stake in shares of Verint Systems during the fourth quarter valued at approximately $211,000.

Verint Systems Company Profile (Get Rating)

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; Engagement Orchestration, an application that improves employee efficiency, time to resolution, compliance, and customer satisfaction with workflows; Knowledge Management, which help agents to deliver stellar service with tools.

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