Verint Systems (NASDAQ: VRNT), which provides cybersecurity solutions, disclosed on Thursday that it has raised its earnings forecast for the fiscal year 2023. The company forecasted that its profits per share for the quarter would be in the region of $2.50 to $2.50, which was lower than the estimate that had been established by the market as a whole, which was $2.51. In addition, the company has provided a revenue prediction of $901.60 million to $938.40 million, much lower than the general average sales estimate of $941.01 million.
On September 7, Verint Systems (NASDAQ: VRNT) (Get Rating) disseminated the findings of its most recent quarterly financial report to the public. The technological company reported $0.56 in earnings per share for the previous quarter, which was $0.03 more than the market analysts’ prediction, which was $0.53. The return on equity for the company was 12.80 percent, and the net margin for the company was 0.72 percent. The actual revenues for the company for the quarter came in at $223.63 million, which is lower than the average projection of $225.98 million that was expected for the period.
Earnings per share for the company came in at $0.34 over the same period as the prior year, compared to the previous year’s performance. Verint Systems reported a gain in revenue of 3.7%, more than the previous year’s increase. According to industry analysts specializing in market research forecasts, Verint Systems is expected to earn $1.52 per share during the current fiscal year. On Thursday, the NASDAQ VRNT market opened for trade for $35.37. During the previous year, Verint Systems reached a new all-time high of $56.39, while the company hit a new all-time low of $35.34. The debt-to-equity ratio comes in at 0.49, the current ratio comes in at 1.31, and the quick ratio comes in at 1.30. These numbers are presented in the order in which they should be used. The moving average of the company’s stock price for the previous 50 days is $45.10, while the moving average of its stock price over the last 200 days is $47.82.
Recently, various brokerage firms have made newly compiled research on VRNT available to the public.
Needham & Company LLC reissued a buy rating on shares of Verint Systems and set a target price of $61.00 for the company’s stock in a research report dated Wednesday, June 8. Needham & Company LLC also established a price objective of $61.00 for the stock. In a research note published on June 9, Evercore ISI stated that they would be decreasing their target price for Verint Systems shares to $65.00. The Royal Bank of Canada lowered its target price on Verint Systems shares from $61.00 to $58.00 in a research report made available to the general public on Thursday, September 8. Despite this modification, the bank has not changed its recommendation for the company; it is still outperforming its peers. The purchase of Verint Systems was changed to a recommendation to hold the stock in a research report published by StockNews.com on Tuesday, August 23. The study was made available to the public. Wedbush lowered its price target on Verint Systems shares from $65.00 to $56.00 in a report released on Thursday, September 8. Despite this change, they retained an outperforming rating for the company.
Three experts have given the stock a recommendation to buy, while two others have suggested investors maintain their current holdings of the security. According to the data given by Bloomberg, the general opinion about Verint Systems is that it is currently a “Moderate Buy,” and analysts anticipate that the company’s price target will average $59.40.
As was mentioned in other recent news about the company, CEO Dan Bodner is said to have sold 81,740 shares of the company’s stock on September 15. The total value of the shares was determined to be $3,116,746.20, equivalent to an average price of $38.13 per share when sold. When the deal is finalized, the company’s CEO will directly own 1,060,152 shares of the corporation. These shares have a value of $40,423,595.76. Following the link that has been supplied will take you to the legal file kept by the Securities and Exchange Commission (SEC). In this file, you will find information about the transaction that has been kept there. In addition, Peter Fante, an employee of the firm with inside knowledge, sold 6,289 shares of the company’s stock on Thursday, July 7.
This information was included in a separate piece of news. A total of $272,816.82 worth of shares were transacted at an average price of $43.38 per share, leading to a selling volume of $272,816.82.
After the conclusion of the transaction, the insider now owns 46,417 shares of the firm. Based on the current stock price, these shares are worth $2,013,569.46. The Securities and Exchange Commission (SEC) kept a legal file accessible online and contained information relevant to the transaction. This information can be viewed by anybody interested. Additionally, on September 15, 81,740 shares of the business’s stock were sold by Dan Bodner, who serves as the Chief Executive Officer of the company. Each share was sold for $38.13, and a total of $3,116,746.20 was realized from the transaction when all the stock was bought and sold. Following the deal’s conclusion, the CEO will have direct ownership of 1,060,152 shares of the firm, which have a value of $40,423,595.76. The disclosure regarding the sale may be found at this address. Within the past ninety days, business insiders have sold a total of 140,032 shares of stock, which brings the total value of those sales to $5,372,437.
At the moment, people who work for the company own 2.4% of the total value of the company.
In recent weeks, some hedge funds have adjusted the total number of VRNT shares they are currently holding in their portfolios. During the second quarter, Legal & General Group Plc elevated the total percentage of Verint Systems shares that it possessed to a level of 3.0% higher than previously. Legal & General Group Plc is now the owner of a total of 60,135 shares in the technology firm. This was accomplished by acquiring an extra 1,724 shares during the most recent quarter. The value of these shares as of right now is $2,547,000. ExodusPoint Capital Management LP increased the total amount of Verint Systems stock it owned by 27.4 percentage points during the second quarter compared to the previous quarter. Currently, ExodusPoint Capital Management LP is the owner of 18,330 shares of the stock held by the technological business. The current market value of these shares is $776,000. This is a direct result of the purchase of 3,940 extra shares during the most recent fiscal quarter. Goldman Sachs Group Inc. increased its entire shareholding of Verint Systems to a level that was 34.8% greater than it had been before the company’s second-quarter investment.
As a result of the purchase of an extra 242,014 shares during the most recent quarter, Goldman Sachs Group Inc. currently possesses a total of 936,664 shares of the stock held by the technology business. The current market value of these shares is $39,668,000. Because of this, the total number of shares that the firm possesses is now 936,664. During the second quarter, Prudential Financial Inc. brought the total number of shares it owned in Verint Systems to a level that was 14.0% greater than it had been previously. During the most recent fiscal quarter, Prudential Financial Inc. made an extra purchase of 31,990 shares of stock in the technology company. This brings the total number of shares that it has in the company to 260,231, with a value of $11,021,000. In the second quarter, AQR Capital Management LLC boosted the number of Verint Systems shares it owned by 30.0%, making this the last and most important point. The acquisition of 2,901 additional shares during the most recent quarter resulted in AQR Capital Management LLC becoming the owner of 12,557 shares in the technology company. The value of these shares is $532,000 (based on today’s closing price), thanks to the recent purchase of additional shares.