Verint Systems Inc. (VRNT) Earns “Buy” Rating from Royal Bank Of Canada
Verint Systems Inc. (NASDAQ:VRNT)‘s stock had its “buy” rating restated by stock analysts at Royal Bank Of Canada in a report released on Tuesday. They presently have a $48.00 target price on the technology company’s stock. Royal Bank Of Canada’s price objective indicates a potential upside of 23.39% from the company’s current price.
Other research analysts have also issued reports about the stock. Zacks Investment Research upgraded shares of Verint Systems from a “hold” rating to a “strong-buy” rating and set a $48.00 price target on the stock in a research note on Wednesday, June 14th. Imperial Capital reiterated an “in-line” rating and set a $47.00 price target (up from $45.00) on shares of Verint Systems in a research note on Friday, June 9th. Finally, Goldman Sachs Group, Inc. (The) reiterated a “buy” rating and set a $50.00 price target (up from $48.00) on shares of Verint Systems in a research note on Friday, June 9th. One analyst has rated the stock with a sell rating, three have assigned a hold rating and four have given a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $44.38.
Verint Systems (VRNT) traded down 0.39% during midday trading on Tuesday, reaching $38.75. 342,563 shares of the company’s stock traded hands. The company’s market capitalization is $2.43 billion. The firm’s 50 day moving average price is $39.53 and its 200-day moving average price is $39.70. Verint Systems has a 1-year low of $33.40 and a 1-year high of $44.70.
Verint Systems (NASDAQ:VRNT) last posted its quarterly earnings data on Wednesday, June 7th. The technology company reported $0.49 EPS for the quarter, beating analysts’ consensus estimates of $0.38 by $0.11. The company had revenue of $265.70 million for the quarter, compared to analyst estimates of $259.97 million. Verint Systems had a negative net margin of 2.94% and a positive return on equity of 9.76%. Verint Systems’s quarterly revenue was up 6.7% on a year-over-year basis. During the same period in the previous year, the business posted $0.46 earnings per share. Equities analysts expect that Verint Systems will post $2.72 EPS for the current year.
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In other Verint Systems news, Director Larry F. Myers sold 3,103 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $41.40, for a total value of $128,464.20. Following the sale, the director now owns 10,751 shares of the company’s stock, valued at $445,091.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Douglas Robinson sold 2,635 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $40.86, for a total transaction of $107,666.10. Following the completion of the sale, the chief financial officer now directly owns 159,818 shares in the company, valued at approximately $6,530,163.48. The disclosure for this sale can be found here. Insiders sold 9,584 shares of company stock worth $393,624 in the last ninety days. Insiders own 1.20% of the company’s stock.
Several hedge funds have recently made changes to their positions in VRNT. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Verint Systems by 11.0% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,655 shares of the technology company’s stock valued at $108,000 after buying an additional 263 shares during the last quarter. Bronfman E.L. Rothschild L.P. increased its position in shares of Verint Systems by 27.5% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 2,669 shares of the technology company’s stock valued at $116,000 after buying an additional 576 shares during the last quarter. Bank of Montreal Can increased its position in shares of Verint Systems by 43.1% in the first quarter. Bank of Montreal Can now owns 3,080 shares of the technology company’s stock valued at $134,000 after buying an additional 927 shares during the last quarter. Russell Investments Group Ltd. purchased a new position in shares of Verint Systems during the fourth quarter valued at about $148,000. Finally, Tower Research Capital LLC TRC purchased a new position in shares of Verint Systems during the second quarter valued at about $179,000. 95.54% of the stock is currently owned by 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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