Zacks Investment Research upgraded shares of Verint Systems Inc. (NASDAQ:VRNT) from a hold rating to a buy rating in a research note issued to investors on Wednesday morning. Zacks Investment Research currently has $46.00 target price on the technology company’s stock.
According to Zacks, “Verint Systems Inc. is a leading provider of analytic solutions for communications interception, digital video security and surveillance, and enterprise business intelligence. “
A number of other equities analysts have also weighed in on VRNT. Royal Bank Of Canada reiterated an outperform rating and set a $48.00 target price (up previously from $44.00) on shares of Verint Systems in a research note on Thursday, June 8th. Imperial Capital reissued an in-line rating and set a $47.00 price target (up previously from $45.00) on shares of Verint Systems in a research report on Friday, June 9th. Goldman Sachs Group, Inc. (The) reissued a buy rating and set a $50.00 price target (up previously from $48.00) on shares of Verint Systems in a research report on Friday, June 9th. Deutsche Bank AG increased their price target on Verint Systems from $42.00 to $44.00 and gave the stock a hold rating in a research report on Thursday, September 7th. Finally, Oppenheimer Holdings, Inc. reissued a buy rating and set a $49.00 price target on shares of Verint Systems in a research report on Thursday, September 7th. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Verint Systems presently has an average rating of Buy and a consensus price target of $46.43.
Shares of Verint Systems (VRNT) opened at 40.15 on Wednesday. The firm has a 50-day moving average price of $39.01 and a 200-day moving average price of $39.96. The firm’s market cap is $2.56 billion. Verint Systems has a 12-month low of $33.40 and a 12-month high of $44.70.
Verint Systems (NASDAQ:VRNT) last released its quarterly earnings data on Wednesday, September 6th. The technology company reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.47 by $0.14. The firm had revenue of $278.20 million for the quarter, compared to analyst estimates of $270.14 million. Verint Systems had a positive return on equity of 9.90% and a negative net margin of 2.42%. The business’s revenue for the quarter was up 5.3% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.57 earnings per share. Equities research analysts anticipate that Verint Systems will post $2.76 EPS for the current year.
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In related news, CFO Douglas Robinson sold 2,635 shares of the stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $40.86, for a total transaction of $107,666.10. Following the sale, the chief financial officer now owns 159,818 shares of the company’s stock, valued at $6,530,163.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Richard N. Nottenburg sold 3,846 shares of the stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $40.95, for a total value of $157,493.70. Following the sale, the director now directly owns 18,178 shares in the company, valued at approximately $744,389.10. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.
Hedge funds have recently modified their holdings of the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Verint Systems by 11.0% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,655 shares of the technology company’s stock valued at $108,000 after purchasing an additional 263 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its holdings in shares of Verint Systems by 27.5% in the 1st quarter. Bronfman E.L. Rothschild L.P. now owns 2,669 shares of the technology company’s stock valued at $116,000 after purchasing an additional 576 shares in the last quarter. Bank of Montreal Can boosted its holdings in shares of Verint Systems by 43.1% in the 1st quarter. Bank of Montreal Can now owns 3,080 shares of the technology company’s stock valued at $134,000 after purchasing an additional 927 shares in the last quarter. Tower Research Capital LLC TRC acquired a new stake in shares of Verint Systems in the 2nd quarter valued at $179,000. Finally, Strs Ohio boosted its holdings in shares of Verint Systems by 61.5% in the 1st quarter. Strs Ohio now owns 4,200 shares of the technology company’s stock valued at $182,000 after purchasing an additional 1,600 shares in the last quarter. 94.65% of the stock is currently owned by hedge funds and other institutional investors.
About Verint Systems
Verint Systems Inc offers Actionable Intelligence solutions. The Company delivers its Actionable Intelligence solutions through two operating segments: Customer Engagement Solutions and Cyber Intelligence Solutions. It is a provider of customer engagement software and services that can be deployed on-premises or in the cloud.
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