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

Verint Systems (NASDAQ:VRNT) had its target price dropped by equities research analysts at Needham & Company LLC from $40.00 to $30.00 in a report issued on Thursday, MarketBeat reports. The brokerage presently has a “buy” rating on the technology company’s stock. Needham & Company LLC’s price target would suggest a potential upside of 68.07% from the company’s current price.

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

Verint Systems Stock Down 4.7 %

VRNT opened at $17.85 on Thursday. Verint Systems has a 52 week low of $17.64 and a 52 week high of $38.17. The business has a 50 day moving average price of $23.75 and a two-hundred day moving average price of $24.69. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.47. The company has a market cap of $1.11 billion, a PE ratio of 18.99, a P/E/G ratio of 0.97 and a beta of 1.29.

Verint Systems (NASDAQ:VRNT) last released its quarterly earnings results on Wednesday, March 26th. The technology company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.28). The company 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 for the quarter was down 4.4% compared to the same quarter last year. During the same quarter last year, the company earned $1.07 EPS. As a group, research analysts anticipate that Verint Systems will post 1.92 EPS for the current year.

Institutional Trading of Verint Systems

Several institutional investors and hedge funds have recently modified their holdings of VRNT. Clark Capital Management Group Inc. boosted its stake in shares of Verint Systems by 0.4% during the 4th quarter. Clark Capital Management Group Inc. now owns 142,398 shares of the technology company’s stock worth $3,909,000 after purchasing an additional 515 shares during the last quarter. PNC Financial Services Group Inc. lifted its position in Verint Systems by 45.7% during the fourth quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock worth $54,000 after buying an additional 613 shares during the period. Philadelphia Trust Co. boosted its stake in Verint Systems by 0.9% in the 4th quarter. Philadelphia Trust Co. now owns 106,800 shares of the technology company’s stock worth $2,932,000 after buying an additional 1,000 shares during the last quarter. Swiss National Bank grew its holdings in Verint Systems by 1.2% in the 4th quarter. Swiss National Bank now owns 121,900 shares of the technology company’s stock valued at $3,346,000 after buying an additional 1,400 shares during the period. Finally, KBC Group NV increased its stake in shares of Verint Systems by 75.0% during the 4th quarter. KBC Group NV now owns 3,380 shares of the technology company’s stock valued at $93,000 after acquiring an additional 1,449 shares during the last quarter. Hedge funds and other institutional investors own 94.95% of the company’s stock.

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.