Needham & Company LLC Reiterates Buy Rating for Verint Systems (NASDAQ:VRNT)

Verint Systems (NASDAQ:VRNT)‘s stock had its “buy” rating reaffirmed by Needham & Company LLC in a research note issued on Friday,Benzinga reports. They presently have a $40.00 price objective on the technology company’s stock. Needham & Company LLC’s target price would indicate a potential upside of 59.87% from the company’s current price.

Several other equities analysts have also recently commented on VRNT. Jefferies Financial Group increased their target price on Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a research note on Friday, December 6th. StockNews.com upgraded shares of Verint Systems from a “hold” rating to a “buy” rating in a research note on Monday. Royal Bank of Canada reissued an “outperform” rating and issued a $36.00 target price on shares of Verint Systems in a research report on Thursday, December 5th. Finally, Wedbush reaffirmed an “outperform” rating and set a $38.00 price target on shares of Verint Systems in a research report on Thursday, September 26th. Three analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $35.67.

Verint Systems Trading Down 2.0 %

NASDAQ VRNT opened at $25.02 on Friday. The company’s fifty day simple moving average is $26.13 and its 200-day simple moving average is $27.99. The stock has a market cap of $1.56 billion, a P/E ratio of 26.62, a PEG ratio of 1.25 and a beta of 1.24. Verint Systems has a 52 week low of $21.27 and a 52 week high of $38.17. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47.

Insider Buying and Selling at Verint Systems

In other news, insider Peter Fante sold 16,233 shares of Verint Systems stock in a transaction that occurred on Thursday, December 19th. The stock was sold at an average price of $27.52, for a total transaction of $446,732.16. Following the sale, the insider now owns 73,314 shares of the company’s stock, valued at approximately $2,017,601.28. The trade was a 18.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Grant A. Highlander sold 12,880 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $29.25, for a total value of $376,740.00. Following the completion of the transaction, the chief financial officer now directly owns 117,137 shares of the company’s stock, valued at $3,426,257.25. This trade represents a 9.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Verint Systems

A number of hedge funds and other institutional investors have recently modified their holdings of VRNT. Quarry LP grew its position in 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 buying an additional 489 shares in the last quarter. Quantbot Technologies LP bought a new position in shares of Verint Systems in the third quarter valued at approximately $58,000. Ashton Thomas Private Wealth LLC acquired a new position in shares of Verint Systems during the second quarter valued at approximately $138,000. CWM LLC raised its holdings in Verint Systems by 135.0% during the third quarter. CWM LLC now owns 5,660 shares of the technology company’s stock worth $143,000 after purchasing an additional 3,251 shares in the last quarter. Finally, Central Pacific Bank Trust Division raised its holdings in Verint Systems by 29.9% during the fourth quarter. Central Pacific Bank Trust Division now owns 7,075 shares of the technology company’s stock worth $194,000 after purchasing an additional 1,630 shares in the last quarter. 94.95% of the stock is currently 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.