Royal Bank of Canada Reiterates Outperform Rating for Verint Systems (NASDAQ:VRNT)

Royal Bank of Canada reiterated their outperform rating on shares of Verint Systems (NASDAQ:VRNT - Free Report) in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has a $36.00 price target on the technology company's stock.

A number of other analysts have also issued reports on the company. Needham & Company LLC reaffirmed a "buy" rating and issued a $40.00 price target on shares of Verint Systems in a research note on Friday, January 10th. StockNews.com raised shares of Verint Systems from a "hold" rating to a "buy" rating in a research report on Monday, January 6th. Wedbush restated an "outperform" rating and issued a $38.00 target price on shares of Verint Systems in a research report on Thursday, September 26th. Finally, Jefferies Financial Group increased their price objective on shares of Verint Systems from $28.00 to $34.00 and gave the stock a "hold" rating in a research report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat.com, Verint Systems has an average rating of "Moderate Buy" and a consensus price target of $35.67.

Verint Systems Stock Performance

Shares of VRNT stock traded down $0.80 during trading hours on Wednesday, hitting $25.08. The company's stock had a trading volume of 1,059,883 shares, compared to its average volume of 816,320. Verint Systems has a 12-month low of $21.27 and a 12-month high of $38.17. The company has a current ratio of 1.32, a quick ratio of 1.28 and a debt-to-equity ratio of 0.47. The stock has a market cap of $1.56 billion, a PE ratio of 26.68, a price-to-earnings-growth ratio of 1.25 and a beta of 1.24. The company has a 50 day moving average of $26.34 and a 200 day moving average of $27.77.

Insider Transactions at Verint Systems

In other Verint Systems news, insider Peter Fante sold 16,233 shares of the stock in a transaction dated Thursday, December 19th. The shares were sold at an average price of $27.52, for a total value of $446,732.16. Following the completion of the transaction, the insider now directly owns 73,314 shares of the company's stock, valued at approximately $2,017,601.28. This trade represents a 18.13 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Grant A. Highlander sold 12,880 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $29.25, for a total value of $376,740.00. Following the completion of the transaction, the chief financial officer now directly owns 117,137 shares of the company's stock, valued at $3,426,257.25. The trade was a 9.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.70% of the company's stock.

Institutional Trading of Verint Systems

Several institutional investors and hedge funds have recently modified their holdings of the business. Quarry LP lifted its stake in Verint Systems by 160.9% in the 2nd quarter. Quarry LP now owns 793 shares of the technology company's stock valued at $26,000 after buying an additional 489 shares in the last quarter. Quantbot Technologies LP purchased a new stake in shares of Verint Systems during the third quarter worth about $58,000. CWM LLC raised its holdings in Verint Systems by 135.0% in the 3rd quarter. CWM LLC now owns 5,660 shares of the technology company's stock valued at $143,000 after acquiring an additional 3,251 shares during the last quarter. Central Pacific Bank Trust Division boosted its holdings in shares of Verint Systems by 29.9% during the fourth quarter. Central Pacific Bank Trust Division now owns 7,075 shares of the technology company's stock worth $194,000 after purchasing an additional 1,630 shares during the last quarter. Finally, Algert Global LLC acquired a new position in Verint Systems in the second quarter valued at $202,000. 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.