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

Verint Systems (NASDAQ:VRNT)‘s stock had its “outperform” rating reaffirmed by stock analysts at Royal Bank of Canada in a research report issued on Wednesday,Benzinga reports. They presently have a $36.00 price objective on the technology company’s stock. Royal Bank of Canada’s price objective would indicate a potential upside of 38.25% from the company’s current price.

VRNT has been the topic of several other research reports. Needham & Company LLC restated a “buy” rating and set a $40.00 target price on shares of Verint Systems in a research report on Friday, January 10th. Jefferies Financial Group lifted their target price on Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a research report on Friday, December 6th. StockNews.com upgraded Verint Systems from a “hold” rating to a “buy” rating in a research note on Monday, January 6th. Finally, Wedbush reaffirmed an “outperform” rating and set a $38.00 price target on shares of Verint Systems in a research report on Thursday, September 26th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $35.67.

Verint Systems Trading Up 0.6 %

Shares of NASDAQ:VRNT traded up $0.16 during trading on Wednesday, reaching $26.04. The stock had a trading volume of 101,728 shares, compared to its average volume of 707,030. Verint Systems has a 52 week low of $21.27 and a 52 week high of $38.17. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32. The firm’s fifty day moving average is $26.27 and its 200 day moving average is $27.81. The stock has a market cap of $1.62 billion, a price-to-earnings ratio of 27.70, a P/E/G ratio of 1.25 and a beta of 1.24.

Insider Activity

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

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Rhumbline Advisers lifted its position in shares of Verint Systems by 15.0% in the 2nd quarter. Rhumbline Advisers now owns 106,134 shares of the technology company’s stock worth $3,418,000 after purchasing an additional 13,817 shares during the period. American Century Companies Inc. grew its holdings in shares of Verint Systems by 20.0% during the 2nd quarter. American Century Companies Inc. now owns 85,766 shares of the technology company’s stock worth $2,762,000 after acquiring an additional 14,308 shares during the period. Dimensional Fund Advisors LP grew its position in shares of Verint Systems by 4.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,918,925 shares of the technology company’s stock worth $61,792,000 after buying an additional 73,441 shares during the period. Edgestream Partners L.P. purchased a new stake in Verint Systems during the 2nd quarter valued at $619,000. Finally, L & S Advisors Inc purchased a new position in shares of Verint Systems in the second quarter worth $1,603,000. 94.95% of the stock is owned by hedge funds and other institutional investors.

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.