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

Verint Systems Inc. (NASDAQ:VRNT)’s stock price reached a new 52-week low during 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). The firm had revenue of $253.50 million during the quarter, compared to analyst estimates 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 was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.07 EPS.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the stock. Evercore ISI reduced their target price on shares of Verint Systems from $34.00 to $23.00 and set an “in-line” rating on the stock in a research 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 for the company in a research report on Thursday. StockNews.com downgraded Verint Systems from a “buy” rating to a “hold” rating in a research note on Thursday. Royal Bank of Canada cut their price target on Verint Systems from $36.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday. Finally, Jefferies Financial Group raised their price objective on Verint Systems from $28.00 to $34.00 and gave the company a “hold” rating in a research note on Friday, December 6th. Four equities research analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, Verint Systems has an average rating of “Moderate Buy” and an average price target of $31.67.

Hedge Funds Weigh In On Verint Systems

Hedge funds have recently bought and sold shares of the company. Marshall Wace LLP acquired a new position in shares of Verint Systems in the 4th quarter worth approximately $22,528,000. Arrowstreet Capital Limited Partnership boosted its holdings in Verint Systems by 491.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 764,498 shares of the technology company’s stock worth $20,985,000 after purchasing an additional 635,334 shares during the period. Invenomic Capital Management LP bought a new stake in Verint Systems during the fourth quarter valued at $14,653,000. Global Alpha Capital Management Ltd. lifted its position 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 worth $47,151,000 after buying an additional 486,000 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA boosted its holdings in shares of Verint Systems by 48.5% in the 4th quarter. Massachusetts Financial Services Co. MA now owns 1,263,502 shares of the technology company’s stock valued at $34,683,000 after buying an additional 412,655 shares during the period. 94.95% of the stock is currently owned by institutional investors and hedge funds.

Verint Systems Trading Down 13.4 %

The stock has a market cap of $1.17 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 0.97 and a beta of 1.29. The firm’s 50 day moving average is $23.88 and its two-hundred day moving average is $24.74. The company has a quick ratio of 1.28, a current ratio of 1.32 and a debt-to-equity ratio of 0.47.

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.