Verint Systems’ (VRNT) Buy Rating Reaffirmed at Needham & Company LLC

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

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

Verint Systems Stock Performance

Shares of VRNT opened at $25.02 on Friday. Verint Systems has a 12-month low of $21.27 and a 12-month high of $38.17. The stock has a market capitalization of $1.56 billion, a P/E ratio of 26.62, a P/E/G ratio of 1.25 and a beta of 1.24. The firm’s 50 day moving average is $26.13 and its 200-day moving average is $27.99. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.32 and a quick ratio of 1.28.

Insiders Place Their Bets

In other news, insider Peter Fante sold 16,233 shares of the firm’s stock in a transaction on Thursday, December 19th. The shares were sold at an average price of $27.52, for a total transaction of $446,732.16. Following the transaction, the insider now owns 73,314 shares in the company, valued at approximately $2,017,601.28. This trade represents a 18.13 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Grant A. Highlander sold 12,880 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $29.25, for a total transaction of $376,740.00. Following the completion of the sale, the chief financial officer now owns 117,137 shares of the company’s stock, valued at $3,426,257.25. This represents a 9.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company’s stock.

Hedge Funds Weigh In On Verint Systems

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRNT. Rhumbline Advisers grew its stake in Verint Systems by 15.0% in the 2nd quarter. Rhumbline Advisers now owns 106,134 shares of the technology company’s stock valued at $3,418,000 after buying an additional 13,817 shares during the last quarter. Acadian Asset Management LLC grew its position in shares of Verint Systems by 4,185,900.0% in the second quarter. Acadian Asset Management LLC now owns 41,860 shares of the technology company’s stock valued at $1,345,000 after purchasing an additional 41,859 shares during the last quarter. Ashton Thomas Private Wealth LLC bought a new position in shares of Verint Systems in the second quarter worth about $138,000. Choreo LLC bought a new position in shares of Verint Systems in the second quarter worth about $448,000. Finally, American Century Companies Inc. lifted its position in shares of Verint Systems by 20.0% during the 2nd quarter. American Century Companies Inc. now owns 85,766 shares of the technology company’s stock worth $2,762,000 after purchasing an additional 14,308 shares during the last quarter. Institutional investors and hedge funds own 94.95% of the company’s stock.

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.