Verint Systems (NASDAQ:VRNT) Upgraded by StockNews.com to Buy Rating

Verint Systems (NASDAQ:VRNT - Get Free Report) was upgraded by equities researchers at StockNews.com from a "hold" rating to a "buy" rating in a report released on Tuesday.

Several other equities analysts have also recently issued reports on VRNT. Jefferies Financial Group lifted their price target on Verint Systems from $28.00 to $34.00 and gave the company a "hold" rating in a research report on Friday, December 6th. Royal Bank of Canada reaffirmed an "outperform" rating and set a $36.00 target price on shares of Verint Systems in a report on Wednesday, January 15th. Finally, Needham & Company LLC restated a "buy" rating and set a $40.00 price objective on shares of Verint Systems in a research report on Friday, January 10th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $35.67.

Verint Systems Price Performance

VRNT traded down $0.29 on Tuesday, reaching $25.38. The company had a trading volume of 635,210 shares, compared to its average volume of 608,286. The company has a market capitalization of $1.58 billion, a P/E ratio of 27.00, a PEG ratio of 1.11 and a beta of 1.24. 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 company has a fifty day moving average of $26.60 and a 200-day moving average of $27.19. Verint Systems has a one year low of $21.27 and a one year high of $38.17.

Insider Activity

In other news, insider Peter Fante sold 16,233 shares of the company's stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $27.52, for a total value of $446,732.16. Following the transaction, the insider now owns 73,314 shares in the company, valued at $2,017,601.28. This represents a 18.13 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Grant A. Highlander sold 12,880 shares of the firm's stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $29.25, for a total transaction of $376,740.00. Following the sale, the chief financial officer now owns 117,137 shares of the company's stock, valued at approximately $3,426,257.25. This represents a 9.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.70% of the stock is owned by company insiders.

Hedge Funds Weigh In On Verint Systems

Several institutional investors and hedge funds have recently modified their holdings of the stock. New York State Teachers Retirement System purchased a new position in Verint Systems in the fourth quarter valued at about $154,000. Allspring Global Investments Holdings LLC lifted its holdings in shares of Verint Systems by 32.1% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 112,192 shares of the technology company's stock valued at $3,065,000 after buying an additional 27,259 shares during the last quarter. Choreo LLC grew its stake in shares of Verint Systems by 29.5% in the 4th quarter. Choreo LLC now owns 18,500 shares of the technology company's stock valued at $508,000 after buying an additional 4,209 shares in the last quarter. E. Ohman J or Asset Management AB increased its holdings in Verint Systems by 14.9% in the fourth quarter. E. Ohman J or Asset Management AB now owns 50,800 shares of the technology company's stock worth $1,394,000 after buying an additional 6,600 shares during the last quarter. Finally, KBC Group NV raised its position in Verint Systems by 75.0% during the fourth quarter. KBC Group NV now owns 3,380 shares of the technology company's stock valued at $93,000 after acquiring an additional 1,449 shares in the last quarter. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Verint Systems Company Profile

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.