Wedbush Cuts Verint Systems (NASDAQ:VRNT) Price Target to $30.00

Verint Systems (NASDAQ:VRNT - Free Report) had its price objective trimmed by Wedbush from $38.00 to $30.00 in a research note published on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the technology company's stock.

A number of other research firms also recently issued reports on VRNT. Jefferies Financial Group raised their price target on Verint Systems from $28.00 to $34.00 and gave the stock a "hold" rating in a research note on Friday, December 6th. Needham & Company LLC lowered their target price on shares of Verint Systems from $40.00 to $30.00 and set a "buy" rating on the stock in a research report on Thursday, March 27th. Evercore ISI reduced their price target on shares of Verint Systems from $34.00 to $23.00 and set an "in-line" rating for the company in a research report on Thursday, March 27th. StockNews.com downgraded shares of Verint Systems from a "buy" rating to a "hold" rating in a research report on Thursday, March 27th. Finally, Royal Bank of Canada reduced their target price on shares of Verint Systems from $36.00 to $29.00 and set an "outperform" rating for the company in a report on Thursday, March 27th. Three analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, Verint Systems has an average rating of "Moderate Buy" and a consensus target price of $30.33.

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Verint Systems Stock Down 0.6 %

Shares of NASDAQ:VRNT traded down $0.11 during trading on Friday, hitting $17.74. 322,944 shares of the company were exchanged, compared to its average volume of 754,650. The firm's 50 day moving average price is $23.61 and its 200-day moving average price is $24.62. Verint Systems has a 12-month low of $17.27 and a 12-month high of $38.17. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.32 and a quick ratio of 1.28. The stock has a market capitalization of $1.10 billion, a P/E ratio of 18.83, a PEG ratio of 0.97 and a beta of 1.29.

Verint Systems (NASDAQ:VRNT - Get Free Report) last announced its quarterly earnings results on Wednesday, March 26th. The technology company reported $0.99 earnings per share for the quarter, missing analysts' consensus estimates of $1.27 by ($0.28). The company had revenue of $253.50 million during the quarter, compared to analysts' expectations of $276.82 million. Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. Verint Systems's revenue was down 4.4% on a year-over-year basis. During the same period last year, the firm earned $1.07 earnings per share. On average, research analysts predict that Verint Systems will post 1.92 earnings per share for the current fiscal year.

Hedge Funds Weigh In On Verint Systems

A number of large investors have recently bought and sold shares of VRNT. Intech Investment Management LLC acquired a new stake in Verint Systems in the third quarter valued at about $571,000. Charles Schwab Investment Management Inc. lifted its holdings in shares of Verint Systems by 1.1% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 651,741 shares of the technology company's stock valued at $16,509,000 after buying an additional 7,409 shares during the period. Quantbot Technologies LP purchased a new stake in shares of Verint Systems in the third quarter valued at approximately $58,000. FMR LLC grew its holdings in Verint Systems by 312.3% during the third quarter. FMR LLC now owns 10,065 shares of the technology company's stock worth $255,000 after acquiring an additional 7,624 shares during the period. Finally, BNP Paribas Financial Markets raised its position in Verint Systems by 141.4% in the third quarter. BNP Paribas Financial Markets now owns 151,266 shares of the technology company's stock worth $3,832,000 after acquiring an additional 88,616 shares in the last quarter. Hedge funds and other institutional investors own 94.95% of the company's stock.

About Verint Systems

Verint Systems Inc provides customer engagement solutions worldwide. It offers forecasting and scheduling, channels and routing, knowledge management, fraud and security solutions, quality and compliance, analytics and insights, real-time assistance, self-services, financial compliance, and voice pf the consumer solutions.