Shares of Verint Systems Inc. (NASDAQ:VRNT) shot up 5.7% on Thursday following a stronger than expected earnings report. The stock traded as high as $45.88 and last traded at $45.83. 728,707 shares were traded during mid-day trading, an increase of 113% from the average session volume of 342,729 shares. The stock had previously closed at $43.35.
The technology company reported $0.85 EPS for the quarter, beating analysts’ consensus estimates of $0.71 by $0.14. Verint Systems had a return on equity of 11.69% and a net margin of 3.29%. The company had revenue of $307.99 million during the quarter, compared to the consensus estimate of $305.38 million. During the same quarter in the prior year, the firm earned $0.66 EPS. The company’s quarterly revenue was up 8.5% compared to the same quarter last year.
A number of analysts have recently issued reports on VRNT shares. Zacks Investment Research lowered Verint Systems from a “strong-buy” rating to a “hold” rating in a report on Thursday, August 9th. JPMorgan Chase & Co. increased their target price on Verint Systems from $50.00 to $55.00 and gave the company a “buy” rating in a report on Thursday, August 30th. They noted that the move was a valuation call. Royal Bank of Canada increased their target price on Verint Systems to $58.00 and gave the company an “outperform” rating in a report on Thursday, September 6th. Oppenheimer increased their target price on Verint Systems from $49.00 to $58.00 and gave the company an “outperform” rating in a report on Thursday, September 6th. Finally, ValuEngine lowered Verint Systems from a “buy” rating to a “hold” rating in a report on Wednesday, September 12th. One analyst has rated the stock with a sell rating, two have assigned a hold rating and five have given a buy rating to the company. The stock currently has a consensus rating of “Buy” and an average target price of $54.92.
In other news, CFO Douglas Robinson sold 1,875 shares of the stock in a transaction on Tuesday, September 25th. The stock was sold at an average price of $49.13, for a total value of $92,118.75. Following the completion of the sale, the chief financial officer now owns 176,067 shares in the company, valued at $8,650,171.71. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Richard N. Nottenburg sold 5,000 shares of the stock in a transaction on Monday, September 10th. The shares were sold at an average price of $48.75, for a total value of $243,750.00. Following the completion of the sale, the director now owns 27,310 shares of the company’s stock, valued at approximately $1,331,362.50. The disclosure for this sale can be found here. Insiders sold 107,501 shares of company stock valued at $5,239,269 in the last 90 days. Corporate insiders own 1.40% of the company’s stock.
Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. DekaBank Deutsche Girozentrale increased its stake in shares of Verint Systems by 162.9% in 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. Prospect Capital Advisors LLC acquired a new position in shares of Verint Systems in the third quarter worth $150,000. Global X Management Co LLC acquired a new position in shares of Verint Systems in the second quarter worth $166,000. Strs Ohio increased its stake in shares of Verint Systems by 60.0% in 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, CAPROCK Group Inc. acquired a new position in shares of Verint Systems in the third quarter worth $202,000. Institutional investors own 95.21% of the company’s stock.
The company has a debt-to-equity ratio of 0.65, a quick ratio of 1.53 and a current ratio of 1.57. The company has a market capitalization of $2.81 billion, a price-to-earnings ratio of 25.89, a price-to-earnings-growth ratio of 1.95 and a beta of 1.09.
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Verint Systems Company Profile (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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