Verint Systems (VRNT) Trading Up 5.7% on Better-Than-Expected Earnings
Verint Systems Inc. (NASDAQ:VRNT) shares were up 5.7% on Thursday following a better than expected earnings announcement. The stock traded as high as $45.88 and last traded at $45.83. Approximately 728,707 shares changed hands during mid-day trading, an increase of 113% from the average daily volume of 342,729 shares. The stock had previously closed at $43.35.
The technology company reported $0.85 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.14. The firm had revenue of $307.99 million during the quarter, compared to the consensus estimate of $305.38 million. Verint Systems had a return on equity of 11.69% and a net margin of 3.29%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the company posted $0.66 EPS.
A number of research firms have recently commented on VRNT. Wedbush reissued a “buy” rating and set a $58.00 price target on shares of Verint Systems in a report on Friday, October 19th. JPMorgan Chase & Co. boosted their price target on Verint Systems from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Thursday, August 30th. They noted that the move was a valuation call. BidaskClub cut Verint Systems from a “hold” rating to a “sell” rating in a report on Thursday, September 13th. ValuEngine cut Verint Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. Finally, TheStreet raised Verint Systems from a “c” rating to a “b-” rating in a report on Thursday, September 13th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating and five have issued a buy rating to the company. Verint Systems currently has an average rating of “Buy” and a consensus price target of $54.92.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Rhumbline Advisers increased its holdings in Verint Systems by 1.8% in the second quarter. Rhumbline Advisers now owns 65,825 shares of the technology company’s stock valued at $2,919,000 after buying an additional 1,178 shares in the last quarter. Zacks Investment Management boosted its position in Verint Systems by 1.2% during the second quarter. Zacks Investment Management now owns 99,017 shares of the technology company’s stock worth $4,391,000 after acquiring an additional 1,179 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its position in Verint Systems by 162.9% during the third quarter. DekaBank Deutsche Girozentrale now owns 2,235 shares of the technology company’s stock worth $109,000 after acquiring an additional 1,385 shares during the last quarter. Strs Ohio boosted its position in Verint Systems by 60.0% during the second quarter. Strs Ohio now owns 4,000 shares of the technology company’s stock worth $177,000 after acquiring an additional 1,500 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in Verint Systems by 27.6% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,239 shares of the technology company’s stock worth $410,000 after acquiring an additional 2,000 shares during the last quarter. 95.21% of the stock is owned by institutional investors and hedge funds.
The stock has a market capitalization of $2.81 billion, a price-to-earnings ratio of 25.44, a PEG ratio of 1.95 and a beta of 1.09. The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.53 and a current ratio of 1.57.
About Verint Systems (NASDAQ:VRNT)
Verint Systems Inc provides actionable intelligence solutions and value-added services worldwide. Its Customer Engagement Solutions segment provides automated quality management, automated verification, branch surveillance and investigation, case management, chat engagement, coaching/learning, compliance recording, customer communities, desktop and process analytics, digital feedback, email engagement, employee desktop, enterprise feedback, financial compliance, full-time recording, gamification, identity analytics, internal communities, knowledge management, mobile workforce, performance management, robotic process automation, social analytics, speech and text analytics, virtual assistant, voice self-service, voice self-service fraud detection, Web/mobile self-service, work manager, and workforce management solutions.
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