Verint Systems (NASDAQ:VRNT) Downgraded by Zacks Investment Research to “Hold”

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Verint Systems (NASDAQ:VRNT) was downgraded by Zacks Investment Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Thursday, Zacks.com reports.

According to Zacks, “Verint Systems Inc. is a leading provider of analytic solutions for communications interception, digital video security and surveillance, and enterprise business intelligence. “

Several other research analysts also recently weighed in on the stock. Oppenheimer lifted their target price on shares of Verint Systems from $65.00 to $75.00 and gave the stock an “outperform” rating in a research report on Thursday, May 23rd. ValuEngine downgraded shares of Verint Systems from a “buy” rating to a “hold” rating in a research report on Thursday, August 1st. BidaskClub downgraded shares of Verint Systems from a “buy” rating to a “hold” rating in a research report on Wednesday. Wedbush reissued an “outperform” rating and issued a $70.00 target price (up from $63.00) on shares of Verint Systems in a research report on Tuesday, May 21st. Finally, Imperial Capital boosted their price objective on shares of Verint Systems from $65.00 to $69.00 and gave the company an “outperform” rating in a research report on Friday, May 31st. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $67.00.

Shares of Verint Systems stock traded down $0.38 during trading on Thursday, hitting $54.14. The stock had a trading volume of 3,943 shares, compared to its average volume of 429,487. The stock has a 50 day simple moving average of $55.57 and a 200 day simple moving average of $56.19. The company has a market capitalization of $3.57 billion, a PE ratio of 23.34, a P/E/G ratio of 1.68 and a beta of 1.03. The company has a quick ratio of 1.45, a current ratio of 1.50 and a debt-to-equity ratio of 0.68. Verint Systems has a 1 year low of $39.96 and a 1 year high of $63.94.

Verint Systems (NASDAQ:VRNT) last released its earnings results on Wednesday, May 29th. The technology company reported $0.50 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.10. The business had revenue of $324.16 million for the quarter, compared to the consensus estimate of $317.97 million. Verint Systems had a net margin of 5.56% and a return on equity of 13.60%. The firm’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same period last year, the firm posted $0.53 earnings per share. As a group, equities analysts expect that Verint Systems will post 2.68 earnings per share for the current fiscal year.

In other Verint Systems news, CEO Dan Bodner sold 6,240 shares of Verint Systems stock in a transaction that occurred on Monday, June 17th. The shares were sold at an average price of $55.28, for a total value of $344,947.20. Following the completion of the sale, the chief executive officer now directly owns 747,953 shares in the company, valued at $41,346,841.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Elan Moriah sold 1,885 shares of Verint Systems stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $56.56, for a total transaction of $106,615.60. Following the completion of the sale, the insider now owns 103,210 shares of the company’s stock, valued at $5,837,557.60. The disclosure for this sale can be found here. Insiders have sold 35,959 shares of company stock worth $2,014,527 over the last ninety days. 1.40% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of VRNT. Pictet Asset Management Ltd. acquired a new stake in Verint Systems in the second quarter valued at approximately $47,266,000. Nuveen Asset Management LLC acquired a new stake in Verint Systems in the second quarter valued at approximately $44,607,000. SQN Investors LP acquired a new stake in Verint Systems in the first quarter valued at approximately $45,784,000. Clal Insurance Enterprises Holdings Ltd lifted its stake in Verint Systems by 52.1% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,901,882 shares of the technology company’s stock valued at $113,847,000 after acquiring an additional 651,314 shares during the last quarter. Finally, Vanguard Group Inc. lifted its stake in Verint Systems by 5.9% in the second quarter. Vanguard Group Inc. now owns 6,429,472 shares of the technology company’s stock valued at $345,776,000 after acquiring an additional 358,743 shares during the last quarter. Hedge funds and other institutional investors own 97.12% of the company’s stock.

About Verint Systems

Verint Systems Inc provides actionable intelligence solutions worldwide. The company's Customer Engagement Solutions segment offers automated quality management, automated verification, branch surveillance and investigation, case management, chat engagement, coaching/learning, compliance recording, customer communities, desktop and process analytics, and digital feedback solutions.

Read More: What is Cost of Goods Sold (COGS)?

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