Royal Bank of Canada Cuts Verint Systems (NASDAQ:VRNT) Price Target to $29.00

Verint Systems (NASDAQ:VRNT) had its price target lowered by Royal Bank of Canada from $36.00 to $29.00 in a research report sent to investors on Thursday,Benzinga reports. The firm currently has an outperform rating on the technology company’s stock.

Several other analysts have also recently weighed in on VRNT. StockNews.com raised Verint Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, March 12th. Jefferies Financial Group boosted their target price on shares of Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a report on Friday, December 6th. Evercore ISI lowered their price target 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. Finally, Needham & Company LLC cut their price objective on shares of Verint Systems from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.33.

Verint Systems Trading Down 4.7 %

VRNT opened at $17.85 on Thursday. Verint Systems has a one year low of $17.64 and a one year high of $38.17. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.32 and a quick ratio of 1.28. The business has a 50 day simple moving average of $23.75 and a two-hundred day simple moving average of $24.68. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of 18.99, a PEG 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 earnings per share for the quarter, missing the consensus estimate of $1.27 by ($0.28). Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. The company had revenue of $253.50 million during the quarter, compared to the consensus estimate of $276.82 million. During the same quarter last year, the firm earned $1.07 EPS. The business’s revenue was down 4.4% on a year-over-year basis. Analysts predict that Verint Systems will post 1.92 EPS for the current year.

Hedge Funds Weigh In On Verint Systems

A number of hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp grew its holdings in shares of Verint Systems by 142.6% in the fourth quarter. Mackenzie Financial Corp now owns 97,757 shares of the technology company’s stock worth $2,683,000 after acquiring an additional 57,465 shares during the period. Sherbrooke Park Advisers LLC bought a new stake in shares of Verint Systems during the 4th quarter valued at $768,000. ProShare Advisors LLC lifted its stake in shares of Verint Systems by 32.4% during the 4th quarter. ProShare Advisors LLC now owns 22,769 shares of the technology company’s stock valued at $625,000 after buying an additional 5,571 shares in the last quarter. Man Group plc purchased a new stake in Verint Systems in the 4th quarter worth $221,000. Finally, Millennium Management LLC lifted its position in shares of Verint Systems by 62.1% in the fourth quarter. Millennium Management LLC now owns 516,438 shares of the technology company’s stock valued at $14,176,000 after acquiring an additional 197,893 shares in the last quarter. Hedge funds and other institutional investors 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.