Verint Systems Inc. (VRNT) Stock Rating Upgraded 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 report issued to clients and investors on Wednesday. The brokerage presently has a $46.00 target price on the technology company’s stock. Zacks Investment Research‘s price objective indicates a potential upside of 13.86% 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. “

VRNT has been the topic of a number of other research reports. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $50.00 target price (up previously from $48.00) on shares of Verint Systems in a research report on Friday, June 9th. Deutsche Bank AG lifted their target price on Verint Systems from $42.00 to $44.00 and gave the company a “hold” rating in a research report on Thursday, September 7th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $48.00 target price (up previously from $44.00) on shares of Verint Systems in a research report on Thursday, June 8th. Imperial Capital reaffirmed an “in-line” rating and issued a $47.00 target price (up previously from $45.00) on shares of Verint Systems in a research report on Friday, June 9th. Finally, Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and issued a $49.00 target price on shares of Verint Systems in a research report on Thursday, September 7th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus target price of $46.43.

Verint Systems (NASDAQ VRNT) opened at 40.40 on Wednesday. Verint Systems has a one year low of $33.40 and a one year high of $44.70. The firm’s market cap is $2.57 billion. The stock’s 50 day moving average price is $39.00 and its 200-day moving average price is $39.95.

Verint Systems (NASDAQ:VRNT) last released its earnings results on Wednesday, September 6th. The technology company reported $0.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.14. The business had revenue of $278.20 million for the quarter, compared to the consensus estimate of $270.14 million. Verint Systems had a positive return on equity of 9.90% and a negative net margin of 2.42%. Verint Systems’s quarterly revenue was up 5.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.57 earnings per share. Analysts forecast that Verint Systems will post $2.76 earnings per share for the current year.

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In other Verint Systems news, Director Richard N. Nottenburg sold 3,846 shares of the business’s stock in a transaction that occurred 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 transaction, the director now owns 18,178 shares of the company’s stock, valued at $744,389.10. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Douglas Robinson sold 2,635 shares of the business’s 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 transaction, 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. 1.30% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Phocas Financial Corp. increased its position in Verint Systems by 4.7% during the second quarter. Phocas Financial Corp. now owns 196,898 shares of the technology company’s stock worth $8,014,000 after buying an additional 8,782 shares during the last quarter. Koch Industries Inc. acquired a new position in Verint Systems during the second quarter worth approximately $230,000. Polaris Capital Management LLC increased its position in Verint Systems by 3.5% during the second quarter. Polaris Capital Management LLC now owns 470,496 shares of the technology company’s stock worth $21,012,000 after buying an additional 15,700 shares during the last quarter. Castleark Management LLC increased its position in Verint Systems by 38.5% during the second quarter. Castleark Management LLC now owns 254,309 shares of the technology company’s stock worth $10,350,000 after buying an additional 70,754 shares during the last quarter. Finally, CS Mckee LP increased its position in Verint Systems by 1.1% during the second quarter. CS Mckee LP now owns 28,650 shares of the technology company’s stock worth $1,166,000 after buying an additional 300 shares during the last quarter. 94.65% of the stock is currently owned by hedge funds and other 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.

Analyst Recommendations for Verint Systems (NASDAQ:VRNT)

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