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

Verint Systems (NASDAQ:VRNT) had its price objective lowered by research analysts at Royal Bank of Canada from $36.00 to $29.00 in a report issued on Thursday,Benzinga reports. The firm presently has an “outperform” rating on the technology company’s stock. Royal Bank of Canada’s target price indicates a potential upside of 50.57% from the stock’s previous close.

VRNT has been the topic of a number of other research reports. 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 research report on Thursday. Jefferies Financial Group boosted their price target on shares of Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. StockNews.com upgraded shares of Verint Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, March 12th. Finally, Evercore ISI lowered their target price on Verint Systems from $34.00 to $23.00 and set an “in-line” rating on the stock in a research report on Thursday. Three equities research 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 a consensus rating of “Moderate Buy” and an average price target of $31.67.

Verint Systems Stock Down 10.9 %

VRNT traded down $2.36 during trading on Thursday, hitting $19.26. The company had a trading volume of 1,237,226 shares, compared to its average volume of 738,970. The company has a market capitalization of $1.20 billion, a PE ratio of 20.49, a PEG ratio of 0.97 and a beta of 1.29. 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 has a one year low of $18.97 and a one year high of $38.17. The firm’s 50-day moving average price is $23.99 and its 200 day moving average price is $24.79.

Verint Systems (NASDAQ:VRNT) last issued its quarterly earnings results on Wednesday, March 26th. The technology company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). The firm had revenue of $253.50 million during the quarter, compared to the consensus estimate of $276.82 million. Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. The business’s revenue for the quarter was down 4.4% on a year-over-year basis. During the same quarter last year, the firm earned $1.07 earnings per share. As a group, equities analysts expect that Verint Systems will post 1.92 earnings per share for the current year.

Hedge Funds Weigh In On Verint Systems

Institutional investors have recently bought and sold shares of the business. Plato Investment Management Ltd acquired a new stake in shares of Verint Systems in the fourth quarter valued at approximately $43,000. Headlands Technologies LLC bought a new stake in Verint Systems in the 4th quarter valued at $52,000. Parkside Financial Bank & Trust acquired a new stake in Verint Systems during the 4th quarter valued at $52,000. Sterling Capital Management LLC boosted its position in Verint Systems by 808.0% during the fourth quarter. Sterling Capital Management LLC now owns 1,925 shares of the technology company’s stock worth $53,000 after purchasing an additional 1,713 shares during the period. Finally, PNC Financial Services Group Inc. increased its holdings in shares of Verint Systems by 45.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock valued at $54,000 after purchasing an additional 613 shares during the last quarter. Institutional investors and hedge funds own 94.95% of the company’s stock.

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.