Verint Systems (NASDAQ:VRNT) Hits New 52-Week Low Following Weak Earnings

Verint Systems Inc. (NASDAQ:VRNT)’s stock price reached a new 52-week low during mid-day trading on Thursday after the company announced weaker than expected quarterly earnings. The company traded as low as $18.93 and last traded at $19.21, with a volume of 853834 shares changing hands. The stock had previously closed at $21.62.

The technology company reported $0.99 earnings per share for the quarter, missing analysts’ consensus estimates of $1.27 by ($0.28). Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. The business had revenue of $253.50 million during the quarter, compared to analysts’ expectations of $276.82 million. During the same period in the prior year, the firm posted $1.07 EPS. Verint Systems’s revenue for the quarter was down 4.4% compared to the same quarter last year.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on VRNT shares. Evercore ISI reduced their target price on Verint Systems from $34.00 to $23.00 and set an “in-line” rating for the company in a report on Thursday. Needham & Company LLC decreased their price objective on shares of Verint Systems from $40.00 to $30.00 and set a “buy” rating on the stock in a report on Thursday. Jefferies Financial Group upped their target price on shares of Verint Systems from $28.00 to $34.00 and gave the stock a “hold” rating in a research report on Friday, December 6th. StockNews.com downgraded shares of Verint Systems from a “buy” rating to a “hold” rating in a research report on Thursday. Finally, Royal Bank of Canada lowered their price target on Verint Systems from $36.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $31.67.

Institutional Trading of Verint Systems

Large investors have recently modified their holdings of the business. Clark Capital Management Group Inc. raised its position in shares of Verint Systems by 0.4% during the 4th quarter. Clark Capital Management Group Inc. now owns 142,398 shares of the technology company’s stock worth $3,909,000 after purchasing an additional 515 shares during the last quarter. PNC Financial Services Group Inc. raised its holdings in shares of Verint Systems by 45.7% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,955 shares of the technology company’s stock worth $54,000 after acquiring an additional 613 shares during the last quarter. Philadelphia Trust Co. raised its holdings in shares of Verint Systems by 0.9% in the fourth quarter. Philadelphia Trust Co. now owns 106,800 shares of the technology company’s stock worth $2,932,000 after acquiring an additional 1,000 shares during the last quarter. Swiss National Bank lifted its position in shares of Verint Systems by 1.2% in the fourth quarter. Swiss National Bank now owns 121,900 shares of the technology company’s stock valued at $3,346,000 after acquiring an additional 1,400 shares in the last quarter. Finally, KBC Group NV boosted its stake in shares of Verint Systems by 75.0% during the fourth quarter. KBC Group NV now owns 3,380 shares of the technology company’s stock valued at $93,000 after acquiring an additional 1,449 shares during the last quarter. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Verint Systems Trading Down 13.4 %

The business has a 50-day moving average of $23.88 and a 200 day moving average of $24.74. The stock has a market cap of $1.17 billion, a PE ratio of 19.93, a PEG ratio of 0.97 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32.

Verint Systems Company Profile

Verint Systems Inc provides customer engagement solutions worldwide. It offers forecasting and scheduling, channels and routing, knowledge management, fraud and security solutions, quality and compliance, analytics and insights, real-time assistance, self-services, financial compliance, and voice pf the consumer solutions.