Verint Systems (NASDAQ:VRNT) Releases Earnings Results, Beats Estimates By $0.07 EPS

Verint Systems (NASDAQ:VRNT) announced its quarterly earnings results on Tuesday. The technology company reported $0.33 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.26 by $0.07, Briefing.com reports. The firm had revenue of $165.52 million for the quarter, compared to the consensus estimate of $200.43 million. Verint Systems had a return on equity of 12.35% and a net margin of 7.66%.The company’s quarterly revenue was down 1.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.49 earnings per share.

Verint Systems Stock Performance

VRNT stock opened at $20.36 on Wednesday. Verint Systems has a fifty-two week low of $14.15 and a fifty-two week high of $34.80. The business’s 50-day moving average is $20.57 and its two-hundred day moving average is $19.49. The company has a market cap of $1.22 billion, a price-to-earnings ratio of 24.83, a P/E/G ratio of 0.82 and a beta of 1.47.

Institutional Trading of Verint Systems

A number of hedge funds and other institutional investors have recently bought and sold shares of VRNT. Strs Ohio purchased a new stake in Verint Systems in the first quarter worth about $29,000. EverSource Wealth Advisors LLC increased its position in Verint Systems by 114.7% in the second quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company’s stock worth $40,000 after buying an additional 1,098 shares in the last quarter. Tower Research Capital LLC TRC increased its position in Verint Systems by 171.6% in the second quarter. Tower Research Capital LLC TRC now owns 7,069 shares of the technology company’s stock worth $139,000 after buying an additional 4,466 shares in the last quarter. Cetera Investment Advisers purchased a new stake in Verint Systems in the second quarter worth about $199,000. Finally, Pitcairn Co. increased its position in Verint Systems by 20.4% in the second quarter. Pitcairn Co. now owns 18,607 shares of the technology company’s stock worth $366,000 after buying an additional 3,159 shares in the last quarter. Hedge funds and other institutional investors own 94.95% of the company’s stock.

Wall Street Analysts Forecast Growth

VRNT has been the topic of a number of research analyst reports. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $20.50 price target (down from $29.00) on shares of Verint Systems in a report on Tuesday, August 26th. Needham & Company LLC downgraded Verint Systems from a “buy” rating to a “hold” rating in a report on Monday, August 25th. TD Cowen downgraded Verint Systems from a “strong-buy” rating to a “hold” rating in a report on Monday, August 25th. Wedbush downgraded Verint Systems from a “strong-buy” rating to a “hold” rating in a report on Tuesday, August 26th. Finally, Cowen reissued a “buy” rating on shares of Verint Systems in a report on Wednesday, June 4th. One analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $27.71.

Verint Systems Company Profile

Verint Systems Inc provides customer engagement solutions worldwide. It offers forecasting and scheduling, channels and routing, knowledge management, fraud and security solutions, quality and compliance, analytics and insights, real-time assistance, self-services, financial compliance, and voice pf the consumer solutions.