JPMorgan Chase & Co. Reiterates Buy Rating for Verint Systems Inc. (VRNT)
Verint Systems Inc. (NASDAQ:VRNT)‘s stock had its “buy” rating reiterated by investment analysts at JPMorgan Chase & Co. in a research note issued to investors on Tuesday.
Several other brokerages have also commented on VRNT. Imperial Capital increased their price target on shares of Verint Systems from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, September 9th. Zacks Investment Research lowered shares of Verint Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, September 14th. Oppenheimer Holdings Inc. restated a “buy” rating and set a $49.00 price target on shares of Verint Systems in a research note on Wednesday, June 8th. Deutsche Bank AG increased their price target on shares of Verint Systems from $35.00 to $37.00 and gave the stock a “hold” rating in a research note on Thursday, September 8th. Finally, Credit Suisse Group AG restated a “sell” rating and set a $32.00 price target on shares of Verint Systems in a research note on Wednesday, September 7th. Two research analysts have rated the stock with a sell rating, one has issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $42.43.
Shares of Verint Systems (NASDAQ:VRNT) traded up 2.42% during midday trading on Tuesday, hitting $38.04. 355,662 shares of the stock were exchanged. The stock’s 50 day moving average is $35.72 and its 200 day moving average is $34.58. The firm’s market cap is $2.40 billion. Verint Systems has a 12-month low of $29.76 and a 12-month high of $49.70.
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Verint Systems (NASDAQ:VRNT) last announced its quarterly earnings results on Wednesday, September 7th. The company reported $0.57 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.54 by $0.03. Verint Systems had a negative net margin of 0.38% and a positive return on equity of 10.61%. The company had revenue of $264.20 million for the quarter. During the same quarter last year, the company earned $0.76 EPS. The business’s revenue for the quarter was down 11.1% compared to the same quarter last year. On average, equities research analysts forecast that Verint Systems will post $2.85 earnings per share for the current fiscal year.
In other Verint Systems news, Director Larry F. Myers sold 4,243 shares of the firm’s stock in a transaction on Monday, September 12th. The shares were sold at an average price of $37.51, for a total value of $159,154.93. Following the sale, the director now directly owns 8,778 shares in the company, valued at approximately $329,262.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC bought a new stake in Verint Systems during the first quarter valued at about $110,000. Pacer Advisors Inc. bought a new stake in Verint Systems during the second quarter valued at about $128,000. Mizuho Asset Management Co. Ltd. bought a new stake in Verint Systems during the second quarter valued at about $163,000. Strs Ohio raised its stake in Verint Systems by 6.1% in the second quarter. Strs Ohio now owns 5,200 shares of the company’s stock valued at $172,000 after buying an additional 300 shares in the last quarter. Finally, Penserra Capital Management LLC raised its stake in Verint Systems by 10.2% in the second quarter. Penserra Capital Management LLC now owns 5,181 shares of the company’s stock valued at $172,000 after buying an additional 479 shares in the last quarter. Institutional investors own 93.83% of the company’s stock.
About Verint Systems
Verint Systems Inc offers Actionable Intelligence solutions. The Company’s Actionable Intelligence solutions address Customer Engagement Optimization, Security Intelligence, and Fraud, Risk and Compliance. It offers services, such as strategic consulting, implementation services, training, maintenance and round the clock support, as well as a range of deployment models.
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