$270.26 Million in Sales Expected for Verint Systems Inc. (VRNT) This Quarter
Wall Street analysts expect that Verint Systems Inc. (NASDAQ:VRNT) will announce $270.26 million in sales for the current fiscal quarter, according to Zacks Investment Research. Four analysts have issued estimates for Verint Systems’ earnings, with estimates ranging from $270.00 million to $271.05 million. Verint Systems posted sales of $261.92 million during the same quarter last year, which suggests a positive year-over-year growth rate of 3.2%. The firm is expected to report its next quarterly earnings results on Wednesday, September 6th.
According to Zacks, analysts expect that Verint Systems will report full year sales of $270.26 million for the current fiscal year. For the next fiscal year, analysts expect that the business 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 an average based on a survey of sell-side research analysts that that provide coverage for Verint Systems.
Verint Systems (NASDAQ:VRNT) last released its quarterly earnings results on Wednesday, June 7th. The technology company reported $0.49 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.38 by $0.11. Verint Systems had a positive return on equity of 9.76% and a negative net margin of 2.94%. The firm had revenue of $265.70 million for the quarter, compared to the consensus estimate of $259.97 million. During the same quarter last year, the business posted $0.46 EPS. The company’s revenue for the quarter was up 6.7% on a year-over-year basis.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research upgraded shares of Verint Systems from a “hold” rating to a “strong-buy” rating and set a $48.00 price objective on the stock in a report on Wednesday, June 14th. Royal Bank Of Canada upped their price objective on shares of Verint Systems from $37.00 to $44.00 and gave the company an “outperform” rating in a report on Wednesday, March 29th. Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $49.00 price objective on shares of Verint Systems in a report on Thursday, March 30th. Goldman Sachs Group, Inc. (The) upped their price objective on shares of Verint Systems from $44.00 to $48.00 and gave the company a “buy” rating in a report on Wednesday, March 29th. Finally, Imperial Capital reiterated an “in-line” rating and set a $47.00 price objective (up previously from $45.00) on shares of Verint Systems in a report on Friday, June 9th. One analyst has rated the stock with a sell rating, two have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $44.38.
In other news, Director Larry F. Myers sold 3,103 shares of the company’s stock in a transaction dated Wednesday, June 14th. The shares were sold at an average price of $41.40, for a total transaction of $128,464.20. Following the transaction, the director now owns 10,751 shares in the company, valued at $445,091.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Douglas Robinson sold 2,635 shares of the company’s stock in a transaction dated Tuesday, June 27th. The shares were sold at an average price of $40.86, for a total transaction of $107,666.10. Following the transaction, the chief financial officer now owns 159,818 shares in the company, valued at approximately $6,530,163.48. The disclosure for this sale can be found here. Insiders have sold 9,584 shares of company stock worth $393,624 in the last quarter. Company insiders own 1.30% of the company’s stock.
Several large investors have recently bought and sold shares of VRNT. Vanguard Group Inc. raised its stake in Verint Systems by 5.2% in the first quarter. Vanguard Group Inc. now owns 5,110,172 shares of the technology company’s stock worth $221,654,000 after buying an additional 250,730 shares in the last quarter. Alliancebernstein L.P. raised its stake in Verint Systems by 13.6% in the first quarter. Alliancebernstein L.P. now owns 2,824,726 shares of the technology company’s stock worth $122,522,000 after buying an additional 338,476 shares in the last quarter. Fisher Asset Management LLC raised its stake in Verint Systems by 2.9% in the second quarter. Fisher Asset Management LLC now owns 2,127,041 shares of the technology company’s stock worth $86,571,000 after buying an additional 60,275 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in Verint Systems by 23.0% in the first quarter. Dimensional Fund Advisors LP now owns 1,274,392 shares of the technology company’s stock worth $55,278,000 after buying an additional 238,346 shares in the last quarter. Finally, State Street Corp raised its stake in Verint Systems by 3.0% in the first quarter. State Street Corp now owns 1,193,023 shares of the technology company’s stock worth $51,744,000 after buying an additional 34,260 shares in the last quarter. Institutional investors own 96.33% of the company’s stock.
Verint Systems (VRNT) traded up 0.39% during mid-day trading on Friday, hitting $39.10. The company’s stock had a trading volume of 428,028 shares. The firm’s market cap is $2.45 billion. The firm has a 50 day moving average of $40.92 and a 200-day moving average of $39.49. Verint Systems has a 52-week low of $33.40 and a 52-week high of $44.70.
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About Verint Systems
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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