Wedbush Lowers Verint Systems (NASDAQ:VRNT) Price Target to $30.00

Verint Systems (NASDAQ:VRNT) had its target price cut by Wedbush from $38.00 to $30.00 in a report released on Friday morning,Benzinga reports. They currently have an outperform rating on the technology company’s stock.

Other equities research analysts have also issued research reports about the stock. Needham & Company LLC decreased their price objective on shares of Verint Systems from $40.00 to $30.00 and set a “buy” rating for the company in a research note on Thursday. StockNews.com cut Verint Systems from a “buy” rating to a “hold” rating in a research report on Thursday. Royal Bank of Canada lowered their price objective on shares of Verint Systems from $36.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday. Evercore ISI lowered their price target on shares of Verint Systems from $34.00 to $23.00 and set an “in-line” rating on the stock in a report on Thursday. Finally, Jefferies Financial Group raised their target price on Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to MarketBeat, Verint Systems currently has an average rating of “Moderate Buy” and a consensus price target of $30.33.

Verint Systems Stock Down 4.7 %

VRNT stock opened at $17.85 on Friday. The stock’s 50 day moving average is $23.75 and its 200-day moving average is $24.67. Verint Systems has a twelve month low of $17.64 and a twelve month high of $38.17. The firm has a market capitalization of $1.11 billion, a PE ratio of 18.99, a P/E/G ratio of 0.97 and a beta of 1.29. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.47.

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

Institutional Trading of Verint Systems

Several large investors have recently bought and sold shares of the company. Mackenzie Financial Corp raised its holdings in Verint Systems by 142.6% in the fourth quarter. Mackenzie Financial Corp now owns 97,757 shares of the technology company’s stock worth $2,683,000 after purchasing an additional 57,465 shares in the last quarter. Sherbrooke Park Advisers LLC bought a new position in shares of Verint Systems in the 4th quarter worth about $768,000. ProShare Advisors LLC lifted its position in Verint Systems by 32.4% during the 4th quarter. ProShare Advisors LLC now owns 22,769 shares of the technology company’s stock valued at $625,000 after acquiring an additional 5,571 shares during the period. Man Group plc bought a new stake in Verint Systems during the fourth quarter worth about $221,000. Finally, Millennium Management LLC boosted its stake in Verint Systems by 62.1% during the fourth quarter. Millennium Management LLC now owns 516,438 shares of the technology company’s stock worth $14,176,000 after acquiring an additional 197,893 shares in the last quarter. 94.95% of the stock is owned by institutional investors.

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.