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

Verint Systems (NASDAQ:VRNT)‘s stock had its “outperform” rating restated by equities researchers at Royal Bank of Canada in a research note issued on Thursday, Benzinga reports. They currently have a $36.00 target price on the technology company’s stock. Royal Bank of Canada’s price target suggests a potential upside of 8.43% from the stock’s current price.

VRNT has been the subject of several other research reports. TheStreet raised Verint Systems from a “d+” rating to a “c-” rating in a research note on Wednesday, February 14th. StockNews.com raised shares of Verint Systems from a “hold” rating to a “buy” rating in a research report on Thursday, March 14th. Oppenheimer reiterated a “market perform” rating on shares of Verint Systems in a research note on Thursday. Finally, Needham & Company LLC restated a “buy” rating and set a $40.00 price target on shares of Verint Systems in a report on Thursday. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $35.20.

Verint Systems Trading Up 6.8 %

Shares of NASDAQ:VRNT traded up $2.11 during mid-day trading on Thursday, hitting $33.20. The stock had a trading volume of 1,570,337 shares, compared to its average volume of 508,998. Verint Systems has a 12-month low of $18.41 and a 12-month high of $40.28. The company has a debt-to-equity ratio of 0.51, a quick ratio of 1.33 and a current ratio of 1.36. The company has a market cap of $2.09 billion, a PE ratio of 818.20, a P/E/G ratio of 1.32 and a beta of 1.20. The company’s 50 day moving average is $30.70 and its 200-day moving average is $26.25.

Insider Buying and Selling at Verint Systems

In other news, CEO Dan Bodner sold 33,472 shares of the company’s stock in a transaction dated Wednesday, March 20th. The shares were sold at an average price of $31.29, for a total value of $1,047,338.88. Following the sale, the chief executive officer now owns 860,630 shares of the company’s stock, valued at approximately $26,929,112.70. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.20% of the company’s stock.

Institutional Investors Weigh In On Verint Systems

Several hedge funds and other institutional investors have recently made changes to their positions in VRNT. Raymond James & Associates lifted its position in Verint Systems by 12.1% during the 1st quarter. Raymond James & Associates now owns 7,821 shares of the technology company’s stock valued at $404,000 after purchasing an additional 843 shares during the period. MetLife Investment Management LLC lifted its holdings in Verint Systems by 53.6% in the first quarter. MetLife Investment Management LLC now owns 34,707 shares of the technology company’s stock valued at $1,794,000 after buying an additional 12,108 shares during the period. Great West Life Assurance Co. Can boosted its stake in Verint Systems by 14.5% in the first quarter. Great West Life Assurance Co. Can now owns 3,456 shares of the technology company’s stock valued at $190,000 after acquiring an additional 438 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Verint Systems by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,415,021 shares of the technology company’s stock valued at $73,156,000 after acquiring an additional 24,335 shares during the last quarter. Finally, Canada Pension Plan Investment Board acquired a new position in shares of Verint Systems in the 1st quarter valued at $2,533,000. 94.95% of the stock is owned by institutional investors and hedge funds.

About Verint Systems

Verint Systems Inc provides customer engagement solutions worldwide. It offers various applications for use in Forecasting and Scheduling, which understands the work needed to meet and exceed customer expectations; Quality and Compliance that uses automation and analytics for customer interactions for attended and self-service channels; Interaction Insights, which extracts insights from structured and unstructured customer interactions and activities; Real-Time Work that supports in-the-moment workforce activities; Engagement Channels, an application for messaging, social, chat, email, and interactive voice response; Conversational AI, an intelligent virtual assistant application to enable human-like conversations across every channel; Knowledge Management, which enables humans and bots to deliver service with tools.