Verint Systems Inc. (VRNT) Upgraded to Buy by Zacks Investment Research
Verint Systems Inc. (NASDAQ:VRNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The brokerage presently has a $46.00 price target on the technology company’s stock. Zacks Investment Research‘s price target suggests a potential upside of 12.88% from the stock’s previous close.
According to Zacks, “Verint Systems Inc. is a leading provider of analytic solutions for communications interception, digital video security and surveillance, and enterprise business intelligence. “
Several other research analysts also recently commented on VRNT. Royal Bank Of Canada reissued an “outperform” rating and set a $48.00 price target (up from $44.00) on shares of Verint Systems in a research note on Thursday, June 8th. Imperial Capital reissued 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. Goldman Sachs Group, Inc. (The) reissued 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. Deutsche Bank AG lifted their price target on shares of Verint Systems from $42.00 to $44.00 and gave the stock a “hold” rating in a research note on Thursday, September 7th. Finally, Oppenheimer Holdings, Inc. reissued a “buy” rating and set a $49.00 price target on shares of Verint Systems in a research note on Thursday, September 7th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $46.43.
Shares of Verint Systems (NASDAQ:VRNT) opened at 40.75 on Wednesday. The firm’s 50-day moving average is $38.88 and its 200-day moving average is $39.92. Verint Systems has a 12-month low of $33.40 and a 12-month high of $44.70. The company’s market capitalization is $2.55 billion.
Verint Systems (NASDAQ:VRNT) last posted its quarterly earnings results on Wednesday, September 6th. The technology company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.47 by $0.14. The firm had revenue of $278.20 million for the quarter, compared to the consensus estimate of $270.14 million. Verint Systems had a negative net margin of 2.42% and a positive return on equity of 9.90%. The business’s revenue was up 5.3% compared to the same quarter last year. During the same period last year, the firm posted $0.57 earnings per share. On average, equities analysts predict that Verint Systems will post $2.74 EPS for the current year.
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In related news, CFO Douglas Robinson sold 2,635 shares of Verint Systems stock in a transaction on Tuesday, June 27th. The shares were sold at an average price of $40.86, for a total value of $107,666.10. Following the transaction, the chief financial officer now directly owns 159,818 shares of the company’s stock, valued at $6,530,163.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Richard N. Nottenburg sold 3,846 shares of Verint Systems stock in a transaction on Thursday, June 22nd. The stock was sold at an average price of $40.95, for a total transaction of $157,493.70. Following the completion of the transaction, the director now directly owns 18,178 shares in the company, valued at $744,389.10. The disclosure for this sale can be found here. 1.20% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently modified their holdings of VRNT. Bank of Montreal Can increased its stake 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 worth $134,000 after buying an additional 927 shares during the period. Strs Ohio boosted its holdings in Verint Systems by 61.5% in the first quarter. Strs Ohio now owns 4,200 shares of the technology company’s stock valued at $182,000 after acquiring an additional 1,600 shares in the last quarter. First Trust Advisors LP boosted its holdings in Verint Systems by 57.7% in the first quarter. First Trust Advisors LP now owns 171,037 shares of the technology company’s stock valued at $7,419,000 after acquiring an additional 62,564 shares in the last quarter. US Bancorp DE boosted its holdings in Verint Systems by 4.7% in the first quarter. US Bancorp DE now owns 31,395 shares of the technology company’s stock valued at $1,361,000 after acquiring an additional 1,415 shares in the last quarter. Finally, Comerica Bank bought a new stake in Verint Systems in the first quarter valued at $452,000. 94.65% of the stock is currently owned by 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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