Verint Systems Inc. (VRNT) Expected to Post Quarterly Sales of $282.85 Million
Brokerages forecast that Verint Systems Inc. (NASDAQ:VRNT) will report $282.85 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for Verint Systems’ earnings. The lowest sales estimate is $282.00 million and the highest is $283.86 million. Verint Systems posted sales of $258.90 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 9.3%. The business is expected to issue its next earnings results on Wednesday, December 6th.
According to Zacks, analysts expect that Verint Systems will report full year sales of $282.85 million for the current fiscal year, with estimates ranging from $1.14 billion to $1.15 billion. For the next financial year, analysts anticipate that the company will report sales of $1.23 billion per share, with estimates ranging from $1.20 billion to $1.28 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side research analysts that that provide coverage for Verint Systems.
Verint Systems (NASDAQ:VRNT) last announced its earnings results on Wednesday, September 6th. The technology company reported $0.61 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.14. The business had revenue of $278.20 million for the quarter, compared to analyst estimates of $270.14 million. Verint Systems had a positive return on equity of 9.90% and a negative net margin of 2.42%. The company’s quarterly revenue was up 5.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.57 EPS.
Several equities research analysts have recently issued reports on VRNT shares. Zacks Investment Research raised Verint Systems from a “sell” rating to a “hold” rating in a report on Tuesday, May 30th. Royal Bank Of Canada reaffirmed an “outperform” rating and issued a $48.00 target price (up from $44.00) on shares of Verint Systems in a report on Thursday, June 8th. Deutsche Bank AG lifted their target price on Verint Systems from $42.00 to $44.00 and gave the stock a “hold” rating in a report on Thursday, September 7th. Goldman Sachs Group, Inc. (The) reaffirmed a “buy” rating and issued a $50.00 target price (up from $48.00) on shares of Verint Systems in a report on Friday, June 9th. Finally, Imperial Capital reaffirmed an “in-line” rating and issued a $47.00 target price (up from $45.00) on shares of Verint Systems in a report on Friday, June 9th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $46.43.
In other Verint Systems news, CFO Douglas Robinson sold 2,635 shares of the business’s stock in a transaction that occurred on Tuesday, June 27th. The stock was sold at an average price of $40.86, for a total transaction of $107,666.10. Following the sale, the chief financial officer now directly owns 159,818 shares of the company’s stock, valued at $6,530,163.48. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard N. Nottenburg sold 3,846 shares of the business’s stock in a transaction that occurred on Thursday, June 22nd. The stock was sold at an average price of $40.95, for a total value of $157,493.70. Following the sale, the director now directly owns 18,178 shares in the company, valued at $744,389.10. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of VRNT. ETF Managers Group LLC bought a new stake in Verint Systems during the second quarter worth approximately $18,069,000. Ameriprise Financial Inc. bought a new stake in Verint Systems during the first quarter worth approximately $19,108,000. Pioneer Investment Management Inc. bought a new stake in Verint Systems during the second quarter worth approximately $17,386,000. Numeric Investors LLC bought a new stake in Verint Systems during the second quarter worth approximately $15,731,000. Finally, Rothschild Asset Management Inc. bought a new stake in Verint Systems during the second quarter worth approximately $15,002,000. 94.65% of the stock is currently owned by institutional investors.
Verint Systems (NASDAQ:VRNT) traded down 0.62% during trading on Friday, hitting $40.15. The stock had a trading volume of 1,163,348 shares. Verint Systems has a 52-week low of $33.40 and a 52-week high of $44.70. The company has a 50-day moving average of $39.01 and a 200 day moving average of $39.96. The firm’s market cap is $2.56 billion.
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Verint Systems Company Profile
Verint Systems Inc offers Actionable Intelligence solutions. The Company delivers its Actionable Intelligence solutions through two operating segments: Customer Engagement Solutions and Cyber Intelligence Solutions. It is a provider of customer engagement software and services that can be deployed on-premises or in the cloud.
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