Verint Systems (NASDAQ:VRNT) Announces Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Key Points

• Verint Systems reported earnings of $0.06 per share, missing the consensus estimate of $0.26 by $0.20.
• The company's stock declined $0.03 to $20.36, with a market cap of $1.22 billion and a price-to-earnings ratio of 24.83.
• Analysts have a consensus rating of "Hold" on the stock, with an average price target of $27.71.

Verint Systems (NASDAQ:VRNT - Get Free Report) issued its earnings results on Tuesday. The technology company reported $0.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.26 by $0.07, Briefing.com reports. Verint Systems had a net margin of 6.87% and a return on equity of 11.06%. The firm had revenue of $165.52 million for the quarter, compared to analysts' expectations of $200.43 million. During the same quarter last year, the business earned $0.49 earnings per share. The business's revenue was down 1.0% on a year-over-year basis.

Verint Systems Stock Performance

NASDAQ:VRNT remained flat at $20.36 during mid-day trading on Friday. The company's stock had a trading volume of 1,487,316 shares, compared to its average volume of 2,637,330. Verint Systems has a fifty-two week low of $14.15 and a fifty-two week high of $34.80. The firm's 50-day simple moving average is $20.67 and its two-hundred day simple moving average is $19.38. The stock has a market capitalization of $1.23 billion, a PE ratio of 28.68, a P/E/G ratio of 0.89 and a beta of 1.47.

Analyst Ratings Changes

Several research firms recently weighed in on VRNT. Royal Bank Of Canada reiterated a "sector perform" rating and issued a $20.50 price target (down previously from $29.00) on shares of Verint Systems in a report on Tuesday, August 26th. Wedbush cut shares of Verint Systems from a "strong-buy" rating to a "hold" rating in a report on Tuesday, August 26th. TD Cowen lowered Verint Systems from a "strong-buy" rating to a "hold" rating in a research report on Monday, August 25th. Needham & Company LLC lowered Verint Systems from a "buy" rating to a "hold" rating in a research report on Monday, August 25th. Finally, Rosenblatt Securities lowered Verint Systems from a "buy" rating to a "hold" rating and lowered their price objective for the company from $40.00 to $20.50 in a research report on Monday, August 25th. One analyst has rated the stock with a Buy rating and seven have given a Hold rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $26.33.

Hedge Funds Weigh In On Verint Systems

Hedge funds have recently bought and sold shares of the business. Goldman Sachs Group Inc. increased its position in shares of Verint Systems by 6.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 1,589,770 shares of the technology company's stock valued at $28,377,000 after purchasing an additional 93,118 shares during the last quarter. Strs Ohio bought a new position in shares of Verint Systems during the 1st quarter valued at approximately $29,000. Cetera Investment Advisers bought a new position in shares of Verint Systems during the 2nd quarter valued at approximately $199,000. Invesco Ltd. grew its stake in shares of Verint Systems by 7.9% during the 2nd quarter. Invesco Ltd. now owns 128,378 shares of the technology company's stock valued at $2,525,000 after acquiring an additional 9,415 shares during the period. Finally, EverSource Wealth Advisors LLC boosted its stake in Verint Systems by 114.7% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,055 shares of the technology company's stock worth $40,000 after purchasing an additional 1,098 shares during the period. Hedge funds and other institutional investors own 94.95% of the company's stock.

About Verint Systems

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.