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Verint Systems (NASDAQ:VRNT) Updates FY 2023 Earnings Guidance

Financial News Live ·  Sep 29, 2022 14:42

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.

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Verint Systems (NASDAQ:VRNT – Get Rating) last posted its quarterly earnings data on Wednesday, September 7th. The technology company reported $0.25 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

Several analysts have commented on the stock. Needham & Company LLC reiterated a buy rating and set a $61.00 target price on shares of Verint Systems in a research report on Wednesday, June 8th. Wedbush decreased their price target on shares of Verint Systems from $65.00 to $56.00 and set an outperform rating for the company in a report on Thursday, September 8th. StockNews.com lowered shares of Verint Systems from a buy rating to a hold rating in a report on Tuesday, August 23rd. Evercore ISI decreased their price target on shares of Verint Systems to $65.00 in a report on Thursday, June 9th. Finally, Royal Bank of Canada decreased their price target on shares of Verint Systems from $61.00 to $58.00 and set an outperform rating for the company in a report on Thursday, September 8th. Two research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, Verint Systems currently has a consensus rating of Moderate Buy and an average price target of $59.40.

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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