Verint Systems (NASDAQ:VRNT) Receives Buy Rating from Needham & Company LLC

Needham & Company LLC reiterated their buy rating on shares of Verint Systems (NASDAQ:VRNT - Free Report) in a research note issued to investors on Friday,Benzinga reports. The firm currently has a $30.00 price objective on the technology company's stock.

Other research analysts also recently issued research reports about the stock. Wedbush decreased their price objective on shares of Verint Systems from $38.00 to $30.00 and set an "outperform" rating for the company in a research report on Friday, March 28th. Royal Bank of Canada decreased their price objective on shares of Verint Systems from $36.00 to $29.00 and set an "outperform" rating for the company in a research report on Thursday, March 27th. Evercore ISI decreased their price objective on shares of Verint Systems from $34.00 to $23.00 and set an "in-line" rating for the company in a research report on Thursday, March 27th. Finally, StockNews.com cut shares of Verint Systems from a "buy" rating to a "hold" rating in a research note on Thursday, March 27th. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $30.33.

Verint Systems Price Performance

NASDAQ:VRNT traded down $0.75 during trading hours on Friday, reaching $17.52. The company had a trading volume of 174,043 shares, compared to its average volume of 789,688. The stock has a 50-day moving average of $19.32 and a two-hundred day moving average of $23.28. Verint Systems has a one year low of $14.15 and a one year high of $38.17. The firm has a market capitalization of $1.09 billion, a PE ratio of 18.64, a PEG ratio of 0.97 and a beta of 1.31. 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 - Get Free Report) last issued 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 analyst estimates of $276.82 million. Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. The firm's revenue for the quarter was down 4.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 EPS. Analysts forecast that Verint Systems will post 1.92 earnings per share for the current year.

Insider Transactions at Verint Systems

In related news, insider Peter Fante sold 9,439 shares of the business's stock in a transaction that occurred on Tuesday, April 15th. The stock was sold at an average price of $16.50, for a total value of $155,743.50. Following the completion of the sale, the insider now directly owns 20,450 shares in the company, valued at approximately $337,425. The trade was a 31.58 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Stephen J. Gold sold 2,744 shares of the business's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $16.07, for a total value of $44,096.08. Following the completion of the sale, the director now owns 28,473 shares of the company's stock, valued at approximately $457,561.11. This trade represents a 8.79 % 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 corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of VRNT. Marshall Wace LLP acquired a new position in shares of Verint Systems during the fourth quarter worth $22,528,000. Arrowstreet Capital Limited Partnership increased its holdings in shares of Verint Systems by 491.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 764,498 shares of the technology company's stock worth $20,985,000 after buying an additional 635,334 shares in the last quarter. Invenomic Capital Management LP acquired a new position in shares of Verint Systems during the fourth quarter worth $14,653,000. Global Alpha Capital Management Ltd. increased its holdings in Verint Systems by 39.5% in the fourth quarter. Global Alpha Capital Management Ltd. now owns 1,717,703 shares of the technology company's stock valued at $47,151,000 after purchasing an additional 486,000 shares during the period. Finally, Massachusetts Financial Services Co. MA increased its holdings in Verint Systems by 48.5% in the fourth quarter. Massachusetts Financial Services Co. MA now owns 1,263,502 shares of the technology company's stock valued at $34,683,000 after purchasing an additional 412,655 shares during the period. 94.95% of the stock is currently owned by institutional investors and hedge funds.

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.