Verint Systems’ (VRNT) Buy Rating Reaffirmed at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Verint Systems (NASDAQ:VRNT) in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a $40.00 target price on the technology company’s stock.

A number of other research firms have also issued reports on VRNT. StockNews.com raised Verint Systems from a hold rating to a buy rating in a report on Thursday. Royal Bank of Canada reiterated an outperform rating and issued a $36.00 target price on shares of Verint Systems in a research note on Wednesday, June 5th. Three investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of Moderate Buy and an average target price of $34.00.

Verint Systems Price Performance

Shares of NASDAQ VRNT opened at $26.21 on Thursday. The stock has a market cap of $1.62 billion, a P/E ratio of 54.60, a P/E/G ratio of 1.25 and a beta of 1.24. Verint Systems has a twelve month low of $18.41 and a twelve month high of $38.17. The stock has a 50 day moving average of $32.46 and a two-hundred day moving average of $31.96. The company has a current ratio of 1.34, a quick ratio of 1.30 and a debt-to-equity ratio of 0.50.

Verint Systems (NASDAQ:VRNT) last released its quarterly earnings results on Wednesday, September 4th. The technology company reported $0.49 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.04). Verint Systems had a net margin of 6.78% and a return on equity of 16.27%. The business had revenue of $210.17 million during the quarter, compared to analysts’ expectations of $212.81 million. During the same quarter last year, the company earned $0.22 EPS. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. On average, research analysts forecast that Verint Systems will post 1.99 earnings per share for the current year.

Insider Transactions at Verint Systems

In other Verint Systems news, CEO Dan Bodner sold 375,000 shares of the firm’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $33.76, for a total value of $12,660,000.00. Following the completion of the sale, the chief executive officer now owns 609,764 shares of the company’s stock, valued at $20,585,632.64. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, insider Peter Fante sold 4,417 shares of the firm’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $36.60, for a total value of $161,662.20. Following the completion of the transaction, the insider now directly owns 98,975 shares of the company’s stock, valued at approximately $3,622,485. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Dan Bodner sold 375,000 shares of the business’s stock in a transaction on Thursday, June 20th. The stock was sold at an average price of $33.76, for a total value of $12,660,000.00. Following the sale, the chief executive officer now owns 609,764 shares in the company, valued at $20,585,632.64. The disclosure for this sale can be found here. Company insiders own 1.70% of the company’s stock.

Institutional Trading of Verint Systems

Several large investors have recently modified their holdings of VRNT. Quarry LP boosted its holdings in shares of Verint Systems by 160.9% in the 2nd quarter. Quarry LP now owns 793 shares of the technology company’s stock valued at $26,000 after purchasing an additional 489 shares during the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Verint Systems by 764.2% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,037 shares of the technology company’s stock valued at $28,000 after buying an additional 917 shares during the period. Fidelis Capital Partners LLC acquired a new position in Verint Systems during the 1st quarter valued at approximately $30,000. Innealta Capital LLC acquired a new position in Verint Systems during the 2nd quarter valued at about $36,000. Finally, FinTrust Capital Advisors LLC raised its stake in Verint Systems by 173.7% during the 1st quarter. FinTrust Capital Advisors LLC now owns 1,188 shares of the technology company’s stock valued at $39,000 after acquiring an additional 754 shares in the last quarter. 94.95% of the stock is currently owned by institutional investors and hedge funds.

About Verint Systems

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.