Verint Systems (NASDAQ:VRNT) Updates FY 2023 Earnings Guidance

Verint Systems (NASDAQ:VRNTGet Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of $2.50-$2.50 for the period, compared to the consensus estimate of $2.51. The company issued revenue guidance of $901.60 million-$938.40 million, compared to the consensus revenue estimate of $941.01 million.

Analysts Set New Price Targets

VRNT has been the subject of several recent research reports. Evercore ISI reduced their price objective on Verint Systems to $65.00 in a research note on Thursday, June 9th. StockNews.com cut Verint Systems from a buy rating to a hold rating in a report on Tuesday, August 23rd. Needham & Company LLC reaffirmed a buy rating and issued a $61.00 price target on shares of Verint Systems in a research report on Wednesday, June 8th. Royal Bank of Canada cut their price target on Verint Systems from $61.00 to $58.00 and set an outperform rating on the stock in a research report on Thursday, September 8th. Finally, Wedbush decreased their price target on Verint Systems from $65.00 to $56.00 and set an outperform rating on the stock in a research note on Thursday, September 8th. Two analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $59.40.

Verint Systems Stock Down 0.9 %

VRNT traded down $0.32 on Friday, reaching $34.35. The company’s stock had a trading volume of 1,582 shares, compared to its average volume of 549,627. The company has a debt-to-equity ratio of 0.49, a current ratio of 1.31 and a quick ratio of 1.30. The business’s 50 day moving average is $44.97 and its 200 day moving average is $47.72. Verint Systems has a 1 year low of $34.40 and a 1 year high of $56.39. The stock has a market cap of $2.24 billion, a price-to-earnings ratio of -150.74, a price-to-earnings-growth ratio of 1.55 and a beta of 0.81.

Verint Systems (NASDAQ:VRNTGet Rating) last announced its quarterly earnings results on Wednesday, September 7th. The technology company reported $0.56 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.03. Verint Systems had a return on equity of 12.80% and a net margin of 0.72%. The business had revenue of $223.63 million for the quarter, compared to analysts’ expectations of $225.98 million. During the same period in the prior year, the firm earned $0.34 EPS. The business’s quarterly revenue was up 3.7% on a year-over-year basis. As a group, research analysts forecast that Verint Systems will post 1.52 EPS for the current fiscal year.

Insider Transactions at Verint Systems

In related news, CEO Dan Bodner sold 81,740 shares of Verint Systems stock in a transaction on Thursday, September 15th. The stock was sold at an average price of $38.13, for a total transaction of $3,116,746.20. Following the completion of the sale, the chief executive officer now owns 1,060,152 shares of the company’s stock, valued at $40,423,595.76. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Verint Systems news, insider Peter Fante sold 6,289 shares of Verint Systems stock in a transaction that occurred on Thursday, July 7th. The stock was sold at an average price of $43.38, for a total transaction of $272,816.82. Following the sale, the insider now directly owns 46,417 shares of the company’s stock, valued at $2,013,569.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Dan Bodner sold 81,740 shares of the business’s stock in a transaction that occurred on Thursday, September 15th. The stock was sold at an average price of $38.13, for a total value of $3,116,746.20. Following the completion of the transaction, the chief executive officer now directly owns 1,060,152 shares in the company, valued at $40,423,595.76. The disclosure for this sale can be found here. Insiders sold a total of 140,032 shares of company stock valued at $5,372,437 in the last three months. 2.40% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can increased its position in shares of Verint Systems by 14.5% in the 1st quarter. Great West Life Assurance Co. Can now owns 3,456 shares of the technology company’s stock valued at $190,000 after buying an additional 438 shares in the last quarter. Renaissance Technologies LLC acquired a new position in Verint Systems in the 1st quarter worth $233,000. Raymond James & Associates boosted its stake in Verint Systems by 12.1% in the 1st quarter. Raymond James & Associates now owns 7,821 shares of the technology company’s stock worth $404,000 after purchasing an additional 843 shares during the period. AQR Capital Management LLC boosted its stake in Verint Systems by 30.0% in the 2nd quarter. AQR Capital Management LLC now owns 12,557 shares of the technology company’s stock worth $532,000 after purchasing an additional 2,901 shares during the period. Finally, Graham Capital Management L.P. acquired a new position in shares of Verint Systems during the 1st quarter worth about $719,000.

About Verint Systems

(Get Rating)

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; Engagement Orchestration, an application that improves employee efficiency, time to resolution, compliance, and customer satisfaction with workflows; Knowledge Management, which help agents to deliver stellar service with tools.

Further Reading

Earnings History and Estimates for Verint Systems (NASDAQ:VRNT)

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