Verint Systems Inc. Forecasted to Post FY2020 Earnings of $2.77 Per Share (VRNT)
Verint Systems Inc. (NASDAQ:VRNT) – Wedbush boosted their FY2020 earnings estimates for shares of Verint Systems in a report released on Tuesday, May 21st. Wedbush analyst D. Ives now expects that the technology company will earn $2.77 per share for the year, up from their prior estimate of $2.74. Wedbush currently has a “Outperform” rating and a $70.00 target price on the stock. Wedbush also issued estimates for Verint Systems’ Q1 2021 earnings at $0.47 EPS and FY2021 earnings at $3.30 EPS.
Several other equities analysts also recently issued reports on VRNT. BidaskClub raised shares of Verint Systems from a “sell” rating to a “hold” rating in a research note on Tuesday, January 29th. Zacks Investment Research downgraded shares of Verint Systems from a “strong-buy” rating to a “hold” rating in a research note on Saturday, February 16th. TheStreet raised shares of Verint Systems from a “c+” rating to a “b+” rating in a research note on Tuesday, February 19th. Jefferies Financial Group lifted their target price on shares of Verint Systems from $53.00 to $66.00 and gave the stock a “buy” rating in a research note on Thursday, March 28th. Finally, JPMorgan Chase & Co. set a $63.00 target price on shares of Verint Systems and gave the stock an “overweight” rating in a research note on Thursday, March 28th. One equities research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. Verint Systems currently has a consensus rating of “Buy” and an average price target of $65.00.
Verint Systems (NASDAQ:VRNT) last released its quarterly earnings results on Wednesday, March 27th. The technology company reported $0.86 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.78 by $0.08. The firm had revenue of $330.20 million during the quarter, compared to the consensus estimate of $332.54 million. Verint Systems had a net margin of 5.37% and a return on equity of 12.77%. The company’s revenue for the quarter was up 3.6% on a year-over-year basis. During the same quarter last year, the firm earned $1.05 earnings per share.
In related news, CFO Douglas Robinson sold 8,252 shares of Verint Systems stock in a transaction on Monday, April 15th. The shares were sold at an average price of $62.46, for a total transaction of $515,419.92. Following the completion of the transaction, the chief financial officer now owns 169,078 shares of the company’s stock, valued at $10,560,611.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Elan Moriah sold 11,559 shares of Verint Systems stock in a transaction on Monday, April 15th. The stock was sold at an average price of $62.46, for a total transaction of $721,975.14. Following the transaction, the insider now directly owns 82,108 shares of the company’s stock, valued at approximately $5,128,465.68. The disclosure for this sale can be found here. Insiders have sold 107,724 shares of company stock valued at $6,756,296 in the last three months. 1.40% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Norges Bank acquired a new stake in Verint Systems in the fourth quarter worth $34,750,000. SQN Investors LP acquired a new stake in Verint Systems in the first quarter worth $45,784,000. Victory Capital Management Inc. grew its holdings in Verint Systems by 58.9% in the fourth quarter. Victory Capital Management Inc. now owns 2,010,944 shares of the technology company’s stock worth $85,083,000 after purchasing an additional 745,179 shares during the period. Clal Insurance Enterprises Holdings Ltd grew its holdings in Verint Systems by 52.1% in the first quarter. Clal Insurance Enterprises Holdings Ltd now owns 1,901,882 shares of the technology company’s stock worth $113,847,000 after purchasing an additional 651,314 shares during the period. Finally, Fort Washington Investment Advisors Inc. OH grew its holdings in Verint Systems by 56.6% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 690,694 shares of the technology company’s stock worth $29,223,000 after purchasing an additional 249,617 shares during the period.
Verint Systems Company Profile
Verint Systems Inc provides actionable intelligence solutions worldwide. The company's Customer Engagement Solutions segment offers automated quality management, automated verification, branch surveillance and investigation, case management, chat engagement, coaching/learning, compliance recording, customer communities, desktop and process analytics, and digital feedback solutions.
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