Needham & Company LLC Cuts Verint Systems (NASDAQ:VRNT) Price Target to $30.00

Verint Systems (NASDAQ:VRNT) had its price target decreased by Needham & Company LLC from $40.00 to $30.00 in a report issued on Thursday, MarketBeat reports. Needham & Company LLC currently has a buy rating on the technology company’s stock.

VRNT has been the topic of a number of other research reports. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price target on shares of Verint Systems in a research note on Wednesday, January 15th. StockNews.com upgraded shares of Verint Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Finally, Jefferies Financial Group lifted their price objective on shares of Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, Verint Systems presently has a consensus rating of “Moderate Buy” and an average target price of $30.33.

Verint Systems Trading Down 4.7 %

VRNT opened at $17.85 on Thursday. The company has a market cap of $1.11 billion, a P/E ratio of 18.99, a PEG ratio of 0.97 and a beta of 1.29. Verint Systems has a one year low of $17.64 and a one year high of $38.17. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32. The business’s 50-day simple moving average is $23.75 and its 200-day simple moving average is $24.68.

Verint Systems (NASDAQ:VRNT) last posted its earnings results on Wednesday, March 26th. The technology company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. The company had revenue of $253.50 million during the quarter, compared to analysts’ expectations of $276.82 million. During the same period last year, the business earned $1.07 earnings per share. The company’s quarterly revenue was down 4.4% on a year-over-year basis. As a group, equities research analysts expect that Verint Systems will post 1.92 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in VRNT. Plato Investment Management Ltd purchased a new position in shares of Verint Systems during the 4th quarter worth approximately $43,000. Parkside Financial Bank & Trust acquired a new position in Verint Systems during the fourth quarter worth $52,000. Headlands Technologies LLC purchased a new position in Verint Systems in the fourth quarter worth $52,000. Sterling Capital Management LLC boosted its position in shares of Verint Systems by 808.0% during the 4th quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company’s stock worth $53,000 after purchasing an additional 1,713 shares in the last quarter. Finally, PNC Financial Services Group Inc. grew its stake in shares of Verint Systems by 45.7% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock worth $54,000 after purchasing an additional 613 shares during the period. 94.95% of the stock is owned by hedge funds and other institutional investors.

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.