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

Royal Bank of Canada restated their outperform rating on shares of Verint Systems (NASDAQ:VRNT) in a report released on Wednesday,Benzinga reports. The brokerage currently has a $36.00 price target on the technology company’s stock.

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

Verint Systems Price Performance

Shares of VRNT opened at $25.08 on Wednesday. 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 company has a 50 day moving average price of $26.37 and a 200-day moving average price of $27.75. Verint Systems has a fifty-two week low of $21.27 and a fifty-two week high of $38.17. The stock has a market capitalization of $1.56 billion, a PE ratio of 26.68, a PEG ratio of 1.09 and a beta of 1.24.

Insider Transactions at Verint Systems

In related news, insider Peter Fante sold 16,233 shares of the stock in a transaction dated Thursday, December 19th. The stock was sold at an average price of $27.52, for a total transaction of $446,732.16. Following the transaction, the insider now owns 73,314 shares of the company’s stock, valued at approximately $2,017,601.28. This represents a 18.13 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Grant A. Highlander sold 12,880 shares of Verint Systems stock in a transaction dated 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 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. Insiders own 1.70% of the company’s stock.

Institutional Inflows and Outflows

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