Verint Systems (VRNT) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

Verint Systems (NASDAQ:VRNT) issued its earnings results on Thursday. The technology company reported $0.85 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.71 by $0.14, MarketWatch Earnings reports. Verint Systems had a net margin of 4.58% and a return on equity of 12.61%. The business had revenue of $307.99 million during the quarter, compared to analysts’ expectations of $305.38 million. During the same quarter in the prior year, the business posted $0.66 EPS. The company’s revenue for the quarter was up 8.5% on a year-over-year basis.

VRNT stock opened at $45.02 on Friday. Verint Systems has a 12 month low of $37.10 and a 12 month high of $52.45. The firm has a market capitalization of $2.97 billion, a P/E ratio of 20.46, a price-to-earnings-growth ratio of 2.06 and a beta of 1.09. The company has a quick ratio of 1.53, a current ratio of 1.57 and a debt-to-equity ratio of 0.65.

Several research analysts have recently issued reports on VRNT shares. Wedbush restated a “buy” rating and issued a $58.00 target price on shares of Verint Systems in a report on Friday, October 19th. BidaskClub cut shares of Verint Systems from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. Royal Bank of Canada upped their target price on shares of Verint Systems to $58.00 and gave the company an “outperform” rating in a report on Thursday, September 6th. JPMorgan Chase & Co. upped their target price on shares of Verint Systems from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 30th. They noted that the move was a valuation call. Finally, Oppenheimer upped their target price on shares of Verint Systems from $49.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, September 6th. One research analyst has rated the stock with a sell rating, two have given a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $54.92.

In related news, Director Richard N. Nottenburg sold 2,427 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $48.40, for a total value of $117,466.80. Following the completion of the sale, the director now owns 15,524 shares in the company, valued at approximately $751,361.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard N. Nottenburg sold 5,000 shares of the company’s stock in a transaction on Monday, September 10th. The shares were sold at an average price of $48.75, for a total transaction of $243,750.00. Following the completion of the sale, the director now owns 27,310 shares of the company’s stock, valued at approximately $1,331,362.50. The disclosure for this sale can be found here. In the last quarter, insiders sold 107,501 shares of company stock valued at $5,239,269. 1.40% of the stock is owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in VRNT. Principal Financial Group Inc. raised its position in Verint Systems by 31.7% in the 1st quarter. Principal Financial Group Inc. now owns 8,878 shares of the technology company’s stock valued at $378,000 after purchasing an additional 2,135 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. raised its position in Verint Systems by 13.3% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 25,700 shares of the technology company’s stock valued at $1,140,000 after purchasing an additional 3,025 shares during the last quarter. First Trust Advisors LP raised its position in Verint Systems by 29.6% in the 2nd quarter. First Trust Advisors LP now owns 384,184 shares of the technology company’s stock valued at $17,039,000 after purchasing an additional 87,663 shares during the last quarter. Victory Capital Management Inc. raised its position in Verint Systems by 14.4% in the 2nd quarter. Victory Capital Management Inc. now owns 1,194,545 shares of the technology company’s stock valued at $52,978,000 after purchasing an additional 150,409 shares during the last quarter. Finally, Engineers Gate Manager LP raised its position in Verint Systems by 40.0% in the 2nd quarter. Engineers Gate Manager LP now owns 42,630 shares of the technology company’s stock valued at $1,891,000 after purchasing an additional 12,176 shares during the last quarter. Hedge funds and other institutional investors own 95.21% of the company’s stock.

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Verint Systems Company Profile

Verint Systems Inc provides actionable intelligence solutions and value-added services worldwide. Its Customer Engagement Solutions segment provides automated quality management, automated verification, branch surveillance and investigation, case management, chat engagement, coaching/learning, compliance recording, customer communities, desktop and process analytics, digital feedback, email engagement, employee desktop, enterprise feedback, financial compliance, full-time recording, gamification, identity analytics, internal communities, knowledge management, mobile workforce, performance management, robotic process automation, social analytics, speech and text analytics, virtual assistant, voice self-service, voice self-service fraud detection, Web/mobile self-service, work manager, and workforce management solutions.

See Also: Preferred Stock

Earnings History for Verint Systems (NASDAQ:VRNT)

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