Oppenheimer Holdings, Inc. Reaffirms Buy Rating for Verint Systems Inc. (VRNT)
Verint Systems Inc. (NASDAQ:VRNT)‘s stock had its “buy” rating restated by stock analysts at Oppenheimer Holdings, Inc. in a research note issued to investors on Thursday. They presently have a $49.00 target price on the technology company’s stock. Oppenheimer Holdings, Inc.’s target price would indicate a potential upside of 24.21% from the company’s current price.
VRNT has been the subject of a number of other research reports. Zacks Investment Research cut Verint Systems from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 9th. Deutsche Bank AG increased their price target on Verint Systems from $42.00 to $44.00 and gave the company a “hold” rating in a report on Thursday. Royal Bank Of Canada reaffirmed a “buy” rating and issued a $48.00 price target on shares of Verint Systems in a report on Tuesday, August 15th. Imperial Capital reaffirmed an “in-line” rating and issued a $47.00 price target (up previously from $45.00) on shares of Verint Systems in a report on Friday, June 9th. Finally, Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $50.00 price target (up previously from $48.00) on shares of Verint Systems in a report on Friday, June 9th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $44.88.
Shares of Verint Systems (NASDAQ:VRNT) traded up 1.77% during midday trading on Thursday, hitting $40.15. 962,321 shares of the stock were exchanged. Verint Systems has a 12-month low of $33.40 and a 12-month high of $44.70. The firm’s market cap is $2.52 billion. The stock’s 50 day moving average is $38.76 and its 200 day moving average is $39.86.
Verint Systems (NASDAQ:VRNT) last issued its earnings results on Wednesday, September 6th. The technology company reported $0.61 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.14. Verint Systems had a positive return on equity of 9.76% and a negative net margin of 2.94%. The firm had revenue of $278.20 million for the quarter, compared to the consensus estimate of $270.14 million. During the same quarter in the prior year, the business earned $0.57 earnings per share. The company’s revenue was up 5.3% compared to the same quarter last year. On average, equities research analysts forecast that Verint Systems will post $2.72 earnings per share for the current fiscal year.
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 value of $107,666.10. Following the completion of the transaction, the chief financial officer now directly owns 159,818 shares in the company, valued at $6,530,163.48. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 completion of the transaction, the director now owns 18,178 shares of the company’s stock, valued at $744,389.10. The disclosure for this sale can be found here. Insiders sold 9,584 shares of company stock valued at $393,624 over the last quarter. 1.30% of the stock is currently owned by company insiders.
A number of institutional investors have recently modified their holdings of VRNT. Vanguard Group Inc. boosted its position in shares of Verint Systems by 1.0% during the second quarter. Vanguard Group Inc. now owns 5,160,308 shares of the technology company’s stock worth $210,024,000 after buying an additional 50,136 shares during the period. Alliancebernstein L.P. boosted its position in shares of Verint Systems by 13.6% during the first quarter. Alliancebernstein L.P. now owns 2,824,726 shares of the technology company’s stock worth $122,522,000 after buying an additional 338,476 shares during the period. Fisher Asset Management LLC boosted its position in shares of Verint Systems by 2.9% during the second quarter. Fisher Asset Management LLC now owns 2,127,041 shares of the technology company’s stock worth $86,571,000 after buying an additional 60,275 shares during the period. Dimensional Fund Advisors LP boosted its position in shares of Verint Systems by 6.2% during the second quarter. Dimensional Fund Advisors LP now owns 1,353,467 shares of the technology company’s stock worth $55,085,000 after buying an additional 79,075 shares during the period. Finally, State Street Corp boosted its position in shares of Verint Systems by 5.5% during the second quarter. State Street Corp now owns 1,258,532 shares of the technology company’s stock worth $51,225,000 after buying an additional 65,509 shares during the period. Institutional investors own 94.65% of the company’s stock.
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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