Verint Systems’ (VRNT) Buy Rating Reiterated at Needham & Company LLC

Needham & Company LLC reissued their buy rating on shares of Verint Systems (NASDAQ:VRNT) in a report issued on Thursday, Benzinga reports. Needham & Company LLC currently has a $40.00 target price on the technology company’s stock.

A number of other equities analysts also recently weighed in on the company. TheStreet upgraded Verint Systems from a d+ rating to a c- rating in a report on Wednesday, February 14th. Oppenheimer reiterated a market perform rating on shares of Verint Systems in a report on Thursday. Royal Bank of Canada reiterated an outperform rating and issued a $36.00 target price on shares of Verint Systems in a report on Thursday, December 14th. Finally, StockNews.com upgraded Verint Systems from a hold rating to a buy rating in a report on Thursday, March 14th. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of Moderate Buy and a consensus target price of $35.20.

Verint Systems Stock Up 6.6 %

Shares of NASDAQ:VRNT opened at $33.15 on Thursday. The company has a current ratio of 1.37, a quick ratio of 1.33 and a debt-to-equity ratio of 0.49. Verint Systems has a 12-month low of $18.41 and a 12-month high of $40.28. The company has a fifty day simple moving average of $30.91 and a 200 day simple moving average of $26.38. The firm has a market cap of $2.07 billion, a PE ratio of 114.31, a price-to-earnings-growth ratio of 1.41 and a beta of 1.20.

Insider Buying and Selling

In related news, CEO Dan Bodner sold 33,472 shares of Verint Systems stock in a transaction dated Wednesday, March 20th. The stock was sold at an average price of $31.29, for a total value of $1,047,338.88. Following the completion of the sale, the chief executive officer now directly owns 860,630 shares in the company, valued at $26,929,112.70. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 2.20% of the company’s stock.

Hedge Funds Weigh In On Verint Systems

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wellington Management Group LLP bought a new position in shares of Verint Systems during the 4th quarter valued at about $34,172,000. Norges Bank bought a new position in shares of Verint Systems during the 4th quarter valued at about $18,601,000. Victory Capital Management Inc. lifted its holdings in shares of Verint Systems by 15.8% during the 4th quarter. Victory Capital Management Inc. now owns 4,425,278 shares of the technology company’s stock valued at $160,549,000 after purchasing an additional 604,112 shares in the last quarter. BlackRock Inc. lifted its holdings in shares of Verint Systems by 5.4% during the 1st quarter. BlackRock Inc. now owns 5,286,849 shares of the technology company’s stock valued at $196,882,000 after purchasing an additional 270,971 shares in the last quarter. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of Verint Systems by 34.8% during the 2nd quarter. Goldman Sachs Group Inc. now owns 936,664 shares of the technology company’s stock valued at $39,668,000 after purchasing an additional 242,014 shares in the last quarter. Institutional investors own 94.95% of the company’s stock.

Verint Systems Company Profile

Verint Systems Inc provides customer engagement solutions worldwide. It offers various applications for use in Forecasting and Scheduling, which understands the work needed to meet and exceed customer expectations; Quality and Compliance that uses automation and analytics for customer interactions for attended and self-service channels; Interaction Insights, which extracts insights from structured and unstructured customer interactions and activities; Real-Time Work that supports in-the-moment workforce activities; Engagement Channels, an application for messaging, social, chat, email, and interactive voice response; Conversational AI, an intelligent virtual assistant application to enable human-like conversations across every channel; Knowledge Management, which enables humans and bots to deliver service with tools.