Zacks: Analysts Anticipate Verint Systems Inc. (VRNT) Will Announce Quarterly Sales of $260.08 Million
Analysts expect Verint Systems Inc. (NASDAQ:VRNT) to report $260.08 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Verint Systems’ earnings, with the lowest sales estimate coming in at $260 million and the highest estimate coming in at $260.32 million. Verint Systems reported sales of $245.42 million during the same quarter last year, which indicates a positive year over year growth rate of 6%. The firm is scheduled to announce its next earnings report on Tuesday, June 6th.
According to Zacks, analysts expect that Verint Systems will report full-year sales of $260.08 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 firm will report sales of $1.23 billion per share, with estimates ranging from $1.2 billion to $1.28 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover Verint Systems.
Verint Systems (NASDAQ:VRNT) last issued its quarterly earnings data on Tuesday, March 28th. The technology company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.04. The company earned $295.90 million during the quarter, compared to the consensus estimate of $294.41 million. Verint Systems had a negative net margin of 1.90% and a positive return on equity of 10.01%. Verint Systems’s revenue for the quarter was up 5.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 earnings per share.
VRNT has been the topic of several research analyst reports. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $49.00 price target on shares of Verint Systems in a research note on Thursday, March 30th. Royal Bank of Canada lifted their price target on shares of Verint Systems from $37.00 to $44.00 and gave the stock an “outperform” rating in a research note on Wednesday, March 29th. Goldman Sachs Group Inc lifted their price target on shares of Verint Systems from $44.00 to $48.00 and gave the stock a “buy” rating in a research note on Wednesday, March 29th. Zacks Investment Research upgraded shares of Verint Systems from a “strong sell” rating to a “hold” rating in a research note on Thursday, February 9th. Finally, Imperial Capital lifted their price target on shares of Verint Systems from $40.00 to $43.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 15th. Two research analysts have rated the stock with a sell rating, one has given a hold rating and five have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $42.43.
In other Verint Systems news, CEO Dan Bodner sold 137,773 shares of Verint Systems stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $42.74, for a total value of $5,888,418.02. Following the transaction, the chief executive officer now directly owns 528,226 shares in the company, valued at $22,576,379.24. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Elan Moriah sold 13,717 shares of Verint Systems stock in a transaction on Friday, April 7th. The shares were sold at an average price of $41.09, for a total transaction of $563,631.53. Following the completion of the transaction, the insider now owns 86,755 shares in the company, valued at $3,564,762.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 223,145 shares of company stock worth $9,351,606. 1.30% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Solaris Asset Management LLC raised its position in Verint Systems by 6.2% in the first quarter. Solaris Asset Management LLC now owns 4,300 shares of the technology company’s stock worth $187,000 after buying an additional 250 shares in the last quarter. Rhumbline Advisers raised its position in Verint Systems by 0.8% in the third quarter. Rhumbline Advisers now owns 79,880 shares of the technology company’s stock worth $3,006,000 after buying an additional 650 shares in the last quarter. First Mercantile Trust Co. raised its position in Verint Systems by 8.7% in the first quarter. First Mercantile Trust Co. now owns 8,790 shares of the technology company’s stock worth $381,000 after buying an additional 700 shares in the last quarter. Bank of Montreal Can raised its position in Verint Systems by 43.1% in the first quarter. Bank of Montreal Can now owns 3,080 shares of the technology company’s stock worth $134,000 after buying an additional 927 shares in the last quarter. Finally, California State Teachers Retirement System raised its position in Verint Systems by 0.9% in the third quarter. California State Teachers Retirement System now owns 131,666 shares of the technology company’s stock worth $4,955,000 after buying an additional 1,200 shares in the last quarter. Institutional investors own 94.84% of the company’s stock.
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Verint Systems (NASDAQ:VRNT) opened at 39.35 on Friday. The company’s market cap is $2.46 billion. The company has a 50-day moving average of $40.35 and a 200-day moving average of $37.92. Verint Systems has a 52 week low of $31.43 and a 52 week high of $44.70.
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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