Verint Systems (NASDAQ:VRNT) Reaches New 1-Year Low Following Weak Earnings

Shares of Verint Systems Inc. (NASDAQ:VRNT) reached a new 52-week low on Thursday following a weaker than expected earnings announcement. The company traded as low as $18.93 and last traded at $19.21, with a volume of 853834 shares. 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). The company had revenue of $253.50 million for the quarter, compared to the consensus estimate of $276.82 million. Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. Verint Systems’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the business earned $1.07 EPS.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on VRNT shares. Needham & Company LLC reduced their target price on Verint Systems from $40.00 to $30.00 and set a “buy” rating on the stock in a research report on Thursday. StockNews.com raised shares of Verint Systems from a “hold” rating to a “buy” rating in a report on Wednesday, March 12th. Royal Bank of Canada restated an “outperform” rating and set a $36.00 price objective on shares of Verint Systems in a research report on Wednesday, January 15th. Finally, Jefferies Financial Group boosted their target price on shares of Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a report on Friday, December 6th. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, Verint Systems presently has a consensus rating of “Moderate Buy” and an average target price of $34.00.

Hedge Funds Weigh In On Verint Systems

Several hedge funds have recently added to or reduced their stakes in VRNT. Dimensional Fund Advisors LP grew its position in shares of Verint Systems by 15.8% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,479,163 shares of the technology company’s stock valued at $68,054,000 after buying an additional 338,454 shares during the last quarter. Global Alpha Capital Management Ltd. lifted its holdings in shares of Verint Systems by 39.5% in the 4th quarter. Global Alpha Capital Management Ltd. now owns 1,717,703 shares of the technology company’s stock valued at $47,151,000 after purchasing an additional 486,000 shares during the last quarter. Senvest Management LLC boosted its position in shares of Verint Systems by 9.1% in the 4th quarter. Senvest Management LLC now owns 1,577,332 shares of the technology company’s stock valued at $43,298,000 after purchasing an additional 132,102 shares during the period. State Street Corp increased its stake in Verint Systems by 1.5% in the third quarter. State Street Corp now owns 1,573,801 shares of the technology company’s stock valued at $39,864,000 after purchasing an additional 23,400 shares during the period. Finally, Fisher Asset Management LLC raised its stake in Verint Systems by 26.5% during the 3rd quarter. Fisher Asset Management LLC now owns 1,516,409 shares of the technology company’s stock valued at $38,411,000 after acquiring an additional 317,804 shares during the last quarter. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Verint Systems Price Performance

The firm has a market cap of $1.20 billion, a PE ratio of 20.43, a PEG ratio of 0.97 and a beta of 1.29. The company has a debt-to-equity ratio of 0.47, a current ratio of 1.32 and a quick ratio of 1.28. The company has a 50 day moving average price of $23.99 and a 200 day moving average price of $24.79.

About Verint Systems

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.