Verint Systems (NASDAQ:VRNT – Get Rating) issued an update on its FY 2023 earnings guidance on Thursday morning. The company provided EPS guidance of $2.50-$2.50 for the period, compared to the consensus EPS 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 Price Performance
Verint Systems stock traded up $0.03 during trading on Friday, reaching $37.64. The company had a trading volume of 8,095 shares, compared to its average volume of 454,675. 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 firm's 50-day simple moving average is $45.60 and its 200 day simple moving average is $48.20. Verint Systems has a 52 week low of $36.85 and a 52 week high of $56.39.
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Verint Systems (NASDAQ:VRNT – Get Rating) last posted its quarterly earnings data on Wednesday, September 7th. The technology company reported $0.56 EPS for the quarter, topping the consensus estimate of $0.53 by $0.03. The firm had revenue of $223.63 million for the quarter, compared to the consensus estimate of $225.98 million. Verint Systems had a return on equity of 12.80% and a net margin of 0.72%. The business's revenue for the quarter was up 3.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.34 earnings per share. Research analysts expect that Verint Systems will post 1.52 earnings per share for the current year.
Analyst Ratings Changes
Several brokerages have recently commented on VRNT. Evercore ISI decreased their price objective on shares of Verint Systems to $65.00 in a research report 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 set a $61.00 price objective on shares of Verint Systems in a report on Wednesday, June 8th. Wedbush lowered their target price on shares of Verint Systems from $65.00 to $56.00 and set an outperform rating on the stock in a report on Thursday, September 8th. Finally, Royal Bank of Canada cut their target price on shares of Verint Systems from $61.00 to $58.00 and set an outperform rating for the company in a research note on Thursday, September 8th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $59.40.
Insider Activity at Verint Systems
In other Verint Systems news, insider Peter Fante sold 6,289 shares of the stock in a transaction on Thursday, July 7th. The shares were sold at an average price of $43.38, for a total transaction of $272,816.82. Following the completion of the transaction, the insider now owns 46,417 shares in the company, valued at $2,013,569.46. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.40% of the stock is currently owned by insiders.
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Verint Systems by 1.1% during the 1st quarter. Vanguard Group Inc. now owns 5,896,345 shares of the technology company's stock valued at $304,841,000 after purchasing an additional 65,157 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in Verint Systems by 1.7% during the 1st quarter. Dimensional Fund Advisors LP now owns 1,415,021 shares of the technology company's stock valued at $73,156,000 after acquiring an additional 24,335 shares during the period. State Street Corp grew its position in Verint Systems by 1.4% in the 2nd quarter. State Street Corp now owns 1,373,124 shares of the technology company's stock valued at $58,152,000 after acquiring an additional 18,399 shares during the last quarter. Goldman Sachs Group Inc. increased its stake in Verint Systems by 34.8% in the second quarter. Goldman Sachs Group Inc. now owns 936,664 shares of the technology company's stock worth $39,668,000 after purchasing an additional 242,014 shares during the period. Finally, Fuller & Thaler Asset Management Inc. lifted its position in shares of Verint Systems by 1.3% during the first quarter. Fuller & Thaler Asset Management Inc. now owns 735,162 shares of the technology company's stock worth $38,008,000 after purchasing an additional 9,448 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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