Verint Systems (NASDAQ:VRNT) Issues Quarterly Earnings Results, Beats Expectations By $0.05 EPS

Posted by on Jun 8th, 2022

Verint Systems (NASDAQ:VRNT – Get Rating) issued its quarterly earnings results on Tuesday. The technology company reported $0.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.47 by $0.05, RTT News reports. The firm had revenue of $219.25 million during the quarter, compared to analyst estimates of $215.52 million. Verint Systems had a return on equity of 12.68% and a net margin of 1.65%. The firm’s quarterly revenue was up 8.6% on a year-over-year basis. During the same period last year, the company posted $0.23 EPS. Verint Systems updated its FY 2023 guidance to $2.50-$2.50 EPS and its FY23 guidance to $2.50 EPS.

Shares of VRNT traded up $0.60 during trading hours on Tuesday, hitting $52.46. 732,234 shares of the company were exchanged, compared to its average volume of 484,213. The company has a market capitalization of $3.39 billion, a PE ratio of -749.32, a PEG ratio of 2.22 and a beta of 0.77. The company has a debt-to-equity ratio of 0.43, a current ratio of 1.37 and a quick ratio of 1.36. The firm has a fifty day simple moving average of $52.11 and a 200-day simple moving average of $51.26. Verint Systems has a one year low of $41.46 and a one year high of $56.39.

In other news, CFO Douglas Robinson sold 2,206 shares of the firm’s stock in a transaction on Monday, April 11th. The stock was sold at an average price of $51.26, for a total value of $113,079.56. Following the completion of the sale, the chief financial officer now owns 222,456 shares of the company’s stock, valued at $11,403,094.56. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Dan Bodner sold 40,120 shares of the firm’s stock in a transaction on Thursday, April 7th. The stock was sold at an average price of $50.49, for a total value of $2,025,658.80. Following the completion of the sale, the chief executive officer now directly owns 976,483 shares of the company’s stock, valued at approximately $49,302,626.67. The disclosure for this sale can be found here. Over the last three months, insiders have sold 105,116 shares of company stock valued at $5,354,750. Corporate insiders own 2.40% of the company’s stock.

Several institutional investors have recently modified their holdings of VRNT. Great West Life Assurance Co. Can raised its holdings in shares of Verint Systems by 14.5% during the first quarter. Great West Life Assurance Co. Can now owns 3,456 shares of the technology company’s stock worth $190,000 after acquiring an additional 438 shares in the last quarter. Renaissance Technologies LLC purchased a new stake in shares of Verint Systems during the first quarter worth $233,000. Janus Henderson Group PLC purchased a new stake in shares of Verint Systems during the third quarter worth $297,000. Raymond James & Associates raised its holdings in shares of Verint Systems by 12.1% during the first quarter. Raymond James & Associates now owns 7,821 shares of the technology company’s stock worth $404,000 after acquiring an additional 843 shares in the last quarter. Finally, Royal Bank of Canada raised its holdings in shares of Verint Systems by 18.9% during the third quarter. Royal Bank of Canada now owns 8,680 shares of the technology company’s stock worth $389,000 after acquiring an additional 1,380 shares in the last quarter.

A number of brokerages have issued reports on VRNT. StockNews.com lowered Verint Systems from a “buy” rating to a “hold” rating in a research note on Friday, April 8th. The Goldman Sachs Group lowered Verint Systems from a “buy” rating to a “neutral” rating and set a $57.00 price target for the company. in a research note on Tuesday, April 12th. Zacks Investment Research lowered Verint Systems from a “buy” rating to a “hold” rating in a research note on Thursday, June 2nd. TheStreet lowered Verint Systems from a “b-” rating to a “c” rating in a research note on Tuesday, April 12th. Finally, Royal Bank of Canada increased their price target on Verint Systems from $57.00 to $61.00 and gave the company an “outperform” rating in a research note on Wednesday, March 30th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $62.20.

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.

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Earnings History for Verint Systems (NASDAQ:VRNT)

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