Verint Systems Inc. (VRNT) Earns Buy Rating from Royal Bank Of Canada
Royal Bank Of Canada reissued their buy rating on shares of Verint Systems Inc. (NASDAQ:VRNT) in a research note issued to investors on Tuesday. Royal Bank Of Canada currently has a $48.00 target price on the technology company’s stock.
A number of other equities research analysts have also recently issued reports on VRNT. Zacks Investment Research upgraded shares of Verint Systems from a sell rating to a hold rating in a report on Tuesday, May 30th. Goldman Sachs Group, Inc. (The) restated a buy rating and set a $50.00 price target (up from $48.00) on shares of Verint Systems in a report on Friday, June 9th. Finally, Imperial Capital restated an in-line rating and set a $47.00 price target (up from $45.00) on shares of Verint Systems in a report on Friday, June 9th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. Verint Systems currently has a consensus rating of Hold and a consensus target price of $44.38.
Verint Systems (NASDAQ VRNT) opened at 38.25 on Tuesday. The firm’s market cap is $2.40 billion. Verint Systems has a one year low of $33.40 and a one year high of $44.70. The company has a 50-day moving average price of $39.28 and a 200-day moving average price of $39.71.
Verint Systems (NASDAQ:VRNT) last issued its quarterly earnings data on Wednesday, June 7th. The technology company reported $0.49 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.11. The firm had revenue of $265.70 million during the quarter, compared to analysts’ expectations 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 revenue for the quarter was up 6.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.46 earnings per share. Equities analysts predict that Verint Systems will post $2.72 earnings per share for the current fiscal year.
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In related news, Director Larry F. Myers sold 3,103 shares of the 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 completion of the transaction, the director now owns 10,751 shares of the company’s stock, valued at $445,091.40. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Douglas Robinson sold 2,635 shares of the stock in a transaction dated Tuesday, June 27th. The stock was sold at an average price of $40.86, for a total transaction of $107,666.10. Following the completion of the transaction, the chief financial officer now directly owns 159,818 shares of the company’s stock, valued at approximately $6,530,163.48. The disclosure for this sale can be found here. In the last quarter, insiders sold 9,584 shares of company stock valued at $393,624. 1.30% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank raised its position in 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 period. Bronfman E.L. Rothschild L.P. raised its stake in 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 raised its stake in 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 stake in Verint Systems during the fourth quarter valued at $148,000. Finally, Tower Research Capital LLC TRC purchased a new stake in Verint Systems during the second quarter valued at $179,000. 95.54% of the stock is owned by hedge funds and other institutional investors.
Verint Systems Company Profile
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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