Verint Systems (NASDAQ:VRNT) Rating Increased to Buy at Zacks Investment Research

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Verint Systems (NASDAQ:VRNT) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Friday, Zacks.com reports. The brokerage currently has a $62.00 target price on the technology company’s stock. Zacks Investment Research‘s price target would indicate a potential upside of 11.75% from the stock’s current price.

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. “

A number of other analysts have also issued reports on VRNT. Jefferies Financial Group lowered shares of from a “buy” rating to a “hold” rating in a research note on Thursday, April 11th. Wedbush reissued a “buy” rating and set a $24.00 target price on shares of Miragen Therapeutics in a research note on Tuesday, May 21st. BidaskClub lowered shares of Xperi from a “sell” rating to a “strong sell” rating in a research note on Wednesday, June 19th. Oppenheimer lowered their target price on shares of KemPharm from $8.00 to $3.00 and set an “outperform” rating for the company in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. began coverage on shares of Bunge in a research note on Thursday, March 28th. They set a “neutral” rating and a $67.00 target price for the company. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Verint Systems has a consensus rating of “Buy” and a consensus target price of $67.00.

VRNT stock opened at $55.48 on Friday. The company has a debt-to-equity ratio of 0.68, a current ratio of 1.50 and a quick ratio of 1.45. Verint Systems has a twelve month low of $39.96 and a twelve month high of $63.94. The company has a market capitalization of $3.65 billion, a PE ratio of 23.91, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03. The company’s fifty day moving average price is $55.39.

Verint Systems (NASDAQ:VRNT) last posted its quarterly earnings data on Wednesday, May 29th. The technology company reported $0.50 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.10. Verint Systems had a net margin of 5.56% and a return on equity of 13.60%. The business had revenue of $324.16 million for the quarter, compared to analysts’ expectations of $317.97 million. During the same quarter in the previous year, the business posted $0.53 earnings per share. The business’s revenue was up 11.0% compared to the same quarter last year. Equities research analysts forecast that Verint Systems will post 2.69 earnings per share for the current fiscal year.

In related news, insider Elan Moriah sold 16,308 shares of the company’s stock in a transaction dated Tuesday, June 11th. The shares were sold at an average price of $56.56, for a total value of $922,380.48. Following the completion of the sale, the insider now directly owns 103,210 shares of the company’s stock, valued at $5,837,557.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Richard N. Nottenburg sold 5,076 shares of the company’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $56.01, for a total transaction of $284,306.76. Following the completion of the sale, the director now directly owns 6,163 shares of the company’s stock, valued at $345,189.63. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 35,959 shares of company stock valued at $2,014,527. 1.40% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in VRNT. Investors Research Corp purchased a new stake in Verint Systems in the first quarter worth about $30,000. Truvestments Capital LLC purchased a new stake in Verint Systems in the first quarter worth about $60,000. Northwestern Mutual Wealth Management Co. lifted its stake in Verint Systems by 17,200.0% in the first quarter. Northwestern Mutual Wealth Management Co. now owns 1,038 shares of the technology company’s stock worth $62,000 after acquiring an additional 1,032 shares during the period. Quadrant Capital Group LLC lifted its stake in Verint Systems by 179.5% in the first quarter. Quadrant Capital Group LLC now owns 1,311 shares of the technology company’s stock worth $78,000 after acquiring an additional 842 shares during the period. Finally, Psagot Investment House Ltd. lifted its stake in Verint Systems by 123.7% in the fourth quarter. Psagot Investment House Ltd. now owns 5,512 shares of the technology company’s stock worth $137,000 after acquiring an additional 3,048 shares during the period. 95.31% of the stock is owned by institutional investors.

About Verint Systems

Verint Systems Inc provides actionable intelligence solutions worldwide. The company's Customer Engagement Solutions segment offers automated quality management, automated verification, branch surveillance and investigation, case management, chat engagement, coaching/learning, compliance recording, customer communities, desktop and process analytics, and digital feedback solutions.

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