Verint Systems (NASDAQ:VRNT – Get Free Report) announced its earnings results on Wednesday. The technology company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.08, MarketWatch Earnings reports. Verint Systems had a net margin of 1.61% and a return on equity of 15.48%. The firm had revenue of $219.00 million for the quarter, compared to the consensus estimate of $215.90 million. During the same period in the prior year, the firm earned $0.41 EPS. The firm’s revenue for the quarter was down 2.7% on a year-over-year basis. Verint Systems updated its FY24 guidance to $2.65 EPS.
Verint Systems Stock Up 19.0 %
Shares of NASDAQ:VRNT opened at $28.60 on Friday. The stock has a market cap of $1.84 billion, a P/E ratio of -286.00, a P/E/G ratio of 2.06 and a beta of 1.19. The firm has a fifty day moving average price of $21.90 and a 200 day moving average price of $29.51. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.31 and a quick ratio of 1.27. Verint Systems has a 1-year low of $18.41 and a 1-year high of $40.71.
Insider Buying and Selling
In related news, CEO Dan Bodner sold 5,829 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $24.94, for a total transaction of $145,375.26. Following the completion of the sale, the chief executive officer now owns 1,005,645 shares in the company, valued at approximately $25,080,786.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, CEO Dan Bodner sold 5,829 shares of the stock in a transaction on Wednesday, September 13th. The shares were sold at an average price of $24.94, for a total transaction of $145,375.26. Following the completion of the sale, the chief executive officer now owns 1,005,645 shares in the company, valued at approximately $25,080,786.30. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Elan Moriah sold 2,270 shares of the stock in a transaction on Wednesday, September 13th. The stock was sold at an average price of $24.94, for a total transaction of $56,613.80. Following the sale, the president now owns 99,250 shares of the company’s stock, valued at approximately $2,475,295. The disclosure for this sale can be found here. Insiders sold a total of 10,511 shares of company stock worth $261,144 in the last 90 days. Company insiders own 2.20% of the company’s stock.
Hedge Funds Weigh In On Verint Systems
A number of large investors have recently bought and sold shares of the company. Vanguard Group Inc. raised its position in Verint Systems by 1.2% during the 3rd quarter. Vanguard Group Inc. now owns 6,411,011 shares of the technology company’s stock worth $215,283,000 after buying an additional 77,055 shares during the last quarter. BlackRock Inc. raised its position in Verint Systems by 5.4% during the 1st quarter. BlackRock Inc. now owns 5,286,849 shares of the technology company’s stock worth $196,882,000 after buying an additional 270,971 shares during the last quarter. Victory Capital Management Inc. raised its position in Verint Systems by 15.8% during the 4th quarter. Victory Capital Management Inc. now owns 4,425,278 shares of the technology company’s stock worth $160,549,000 after buying an additional 604,112 shares during the last quarter. Dimensional Fund Advisors LP raised its position in Verint Systems by 8.5% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,687,253 shares of the technology company’s stock worth $62,829,000 after buying an additional 132,891 shares during the last quarter. Finally, State Street Corp raised its position in Verint Systems by 2.2% during the 2nd quarter. State Street Corp now owns 1,452,948 shares of the technology company’s stock worth $50,940,000 after buying an additional 31,265 shares during the last quarter.
Analyst Upgrades and Downgrades
A number of equities research analysts have commented on the stock. Wedbush dropped their price objective on shares of Verint Systems from $45.00 to $35.00 and set an “outperform” rating on the stock in a research report on Thursday, September 7th. StockNews.com assumed coverage on shares of Verint Systems in a research report on Thursday, October 5th. They issued a “hold” rating on the stock. TheStreet downgraded shares of Verint Systems from a “c-” rating to a “d+” rating in a research report on Wednesday, September 13th. TD Cowen dropped their price objective on shares of Verint Systems from $50.00 to $40.00 and set an “outperform” rating on the stock in a research report on Thursday, September 7th. Finally, Oppenheimer cut shares of Verint Systems from an “outperform” rating to a “market perform” rating in a report on Thursday, September 7th. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $41.78.
Get Our Latest Analysis on VRNT
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.
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