Verint Systems (NASDAQ:VRNT – Get Rating) updated its FY 2023 earnings guidance on Thursday. The company provided earnings per share guidance of $2.50-$2.50 for the period, compared to the consensus earnings per share 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.

Verint Systems Trading Down 2.5 %

VRNT stock traded down $0.86 during trading on Thursday, hitting $34.05. The company had a trading volume of 16,550 shares, compared to its average volume of 588,446. The company has a quick ratio of 1.30, a current ratio of 1.31 and a debt-to-equity ratio of 0.49. The firm has a 50-day moving average price of $44.28 and a 200-day moving average price of $47.32. Verint Systems has a 12 month low of $33.51 and a 12 month high of $56.39. The stock has a market cap of $2.22 billion, a price-to-earnings ratio of -151.78, a PEG ratio of 1.49 and a beta of 0.81.

Verint Systems (NASDAQ:VRNT – Get Rating) last posted its quarterly earnings data on Wednesday, September 7th. The technology company reported $0.25 earnings per share for the quarter, missing the consensus estimate of $0.27 by ($0.02). Verint Systems had a return on equity of 12.80% and a net margin of 0.72%. The company had revenue of $223.63 million during the quarter, compared to the consensus estimate of $225.98 million. The business's revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter last year, the firm earned $0.34 EPS. As a group, analysts predict that Verint Systems will post 1.52 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Insiders Place Their Bets

In other news, CEO Dan Bodner sold 81,740 shares of the company's stock in a transaction dated Thursday, September 15th. The shares were sold at an average price of $38.13, for a total value of $3,116,746.20. Following the sale, the chief executive officer now directly owns 1,060,152 shares of the company's stock, valued at approximately $40,423,595.76. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, President Elan Moriah sold 23,045 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 $878,705.85. Following the completion of the sale, the president now owns 119,876 shares of the company's stock, valued at $4,570,871.88. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Dan Bodner sold 81,740 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,060,152 shares in the company, valued at approximately $40,423,595.76. The disclosure for this sale can be found here. Insiders have sold 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 Investors Weigh In On Verint Systems

A number of large investors have recently added to or reduced their stakes in the stock. UBS Asset Management Americas Inc. raised its holdings in Verint Systems by 1.8% in the 2nd quarter. UBS Asset Management Americas Inc. now owns 76,558 shares of the technology company's stock valued at $3,242,000 after acquiring an additional 1,351 shares in the last quarter. Legal & General Group Plc increased its stake in shares of Verint Systems by 3.0% in the 2nd quarter. Legal & General Group Plc now owns 60,135 shares of the technology company's stock valued at $2,547,000 after purchasing an additional 1,724 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of Verint Systems during the 1st quarter valued at approximately $2,533,000. Signet Financial Management LLC grew its holdings in shares of Verint Systems by 1.5% during the 1st quarter. Signet Financial Management LLC now owns 39,735 shares of the technology company's stock valued at $2,054,000 after purchasing an additional 605 shares during the last quarter. Finally, MetLife Investment Management LLC grew its holdings in shares of Verint Systems by 53.6% during the 1st quarter. MetLife Investment Management LLC now owns 34,707 shares of the technology company's stock valued at $1,794,000 after purchasing an additional 12,108 shares during the last quarter.

About Verint Systems

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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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