Royal Bank of Canada Issues Pessimistic Forecast for Verint Systems (NASDAQ:VRNT) Stock Price

Verint Systems (NASDAQ:VRNT) had its price objective reduced by Royal Bank of Canada from $36.00 to $29.00 in a report released on Thursday morning,Benzinga reports. Royal Bank of Canada currently has an outperform rating on the technology company’s stock.

Other analysts have also issued research reports about the company. Needham & Company LLC reduced their target price on Verint Systems from $40.00 to $30.00 and set a “buy” rating on the stock in a research note on Thursday. Evercore ISI lowered their price objective 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. StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Finally, Jefferies Financial Group upped their target price on Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a report on Friday, December 6th. Three investment analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $30.33.

Verint Systems Stock Down 4.7 %

Shares of VRNT opened at $17.85 on Thursday. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.47. The business has a fifty day moving average of $23.75 and a 200 day moving average of $24.68. The company has a market cap of $1.11 billion, a PE ratio of 18.99, a P/E/G ratio of 0.97 and a beta of 1.29. Verint Systems has a 52-week low of $17.64 and a 52-week high of $38.17.

Verint Systems (NASDAQ:VRNT) last released its quarterly earnings results on Wednesday, March 26th. The technology company reported $0.99 EPS for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). Verint Systems had a return on equity of 15.79% and a net margin of 8.49%. The firm had revenue of $253.50 million for the quarter, compared to analysts’ expectations of $276.82 million. During the same period in the prior year, the firm posted $1.07 earnings per share. Verint Systems’s revenue for the quarter was down 4.4% on a year-over-year basis. On average, sell-side analysts expect that Verint Systems will post 1.92 EPS for the current year.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Clark Capital Management Group Inc. increased its position in Verint Systems by 0.4% during the 4th quarter. Clark Capital Management Group Inc. now owns 142,398 shares of the technology company’s stock valued at $3,909,000 after buying an additional 515 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Verint Systems by 45.7% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock valued at $54,000 after acquiring an additional 613 shares during the last quarter. Philadelphia Trust Co. increased its stake in shares of Verint Systems by 0.9% in the fourth quarter. Philadelphia Trust Co. now owns 106,800 shares of the technology company’s stock worth $2,932,000 after acquiring an additional 1,000 shares during the period. Swiss National Bank raised its holdings in shares of Verint Systems by 1.2% during the fourth quarter. Swiss National Bank now owns 121,900 shares of the technology company’s stock worth $3,346,000 after purchasing an additional 1,400 shares during the last quarter. Finally, KBC Group NV lifted 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 purchasing an additional 1,449 shares during the period. Institutional investors own 94.95% of the company’s stock.

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.