Verint Systems (NASDAQ:VRNT) Price Target Cut to $65.00

Verint Systems (NASDAQ:VRNTGet Rating) had its price objective dropped by research analysts at Evercore ISI to $65.00 in a research note issued on Thursday, Stock Target Advisor reports. Evercore ISI’s target price would suggest a potential upside of 31.90% from the stock’s previous close.

VRNT has been the topic of several other reports. Zacks Investment Research raised Verint Systems from a “hold” rating to a “buy” rating and set a $59.00 target price on the stock in a research report on Thursday. The Goldman Sachs Group cut Verint Systems from a “buy” rating to a “neutral” rating and set a $57.00 target price on the stock. in a research report on Tuesday, April 12th. StockNews.com cut Verint Systems from a “buy” rating to a “hold” rating in a research report on Friday, April 8th. Needham & Company LLC reissued a “buy” rating and issued a $61.00 target price on shares of Verint Systems in a research report on Wednesday. Finally, TheStreet cut Verint Systems from a “b-” rating to a “c” rating in a research report on Tuesday, April 12th. Two analysts have rated the stock with a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat, Verint Systems has a consensus rating of “Buy” and an average target price of $63.00.

Shares of Verint Systems stock traded down $0.27 during trading on Thursday, hitting $49.28. 1,202,282 shares of the company’s stock traded hands, compared to its average volume of 497,016. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.37 and a quick ratio of 1.36. Verint Systems has a 1 year low of $41.46 and a 1 year high of $56.39. The stock has a market capitalization of $3.19 billion, a P/E ratio of -447.96, a PEG ratio of 2.24 and a beta of 0.77. The business has a 50-day simple moving average of $52.07 and a 200-day simple moving average of $51.25.

Verint Systems (NASDAQ:VRNTGet Rating) last released its quarterly earnings data on Tuesday, June 7th. The technology company reported $0.52 EPS for the quarter, beating the consensus estimate of $0.47 by $0.05. The company had revenue of $219.25 million for the quarter, compared to analysts’ expectations of $215.52 million. Verint Systems had a return on equity of 13.07% and a net margin of 1.56%. Verint Systems’s revenue was up 8.6% compared to the same quarter last year. During the same period last year, the firm posted $0.23 earnings per share. On average, equities analysts predict that Verint Systems will post 1.68 earnings per share for the current fiscal year.

In related news, CEO Dan Bodner sold 40,120 shares of Verint Systems stock in a transaction that occurred on Thursday, April 7th. The stock was sold at an average price of $50.49, for a total transaction of $2,025,658.80. Following the sale, the chief executive officer now owns 976,483 shares of the company’s stock, valued at approximately $49,302,626.67. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, President Elan Moriah sold 8,920 shares of Verint Systems stock in a transaction that occurred on Monday, April 4th. The shares were sold at an average price of $51.58, for a total value of $460,093.60. Following the sale, the president now directly owns 90,894 shares in the company, valued at approximately $4,688,312.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 105,116 shares of company stock worth $5,354,750. Insiders own 2.40% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of VRNT. KRS Capital Management LLC bought a new stake in Verint Systems in the 4th quarter worth approximately $36,000. Alpha Paradigm Partners LLC bought a new stake in Verint Systems in the 4th quarter worth approximately $65,000. Strs Ohio bought a new stake in Verint Systems in the 4th quarter worth approximately $78,000. Pinebridge Investments L.P. bought a new stake in Verint Systems in the 4th quarter worth approximately $105,000. Finally, Gladius Capital Management LP bought a new stake in Verint Systems in the 4th quarter worth approximately $149,000.

About Verint Systems (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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