Verint Systems (NASDAQ:VRNT) Sets New 12-Month Low Following Weak Earnings

Verint Systems Inc. (NASDAQ:VRNT - Get Free Report)'s stock price hit 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 traded. The stock had previously closed at $21.62.

The technology company reported $0.99 EPS for the quarter, missing the consensus estimate of $1.27 by ($0.28). The company had revenue of $253.50 million during the quarter, compared to analysts' expectations of $276.82 million. Verint Systems had a net margin of 8.49% and a return on equity of 15.79%. The business'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 earnings per share.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on VRNT shares. Jefferies Financial Group boosted their price objective 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. Needham & Company LLC cut their price objective on Verint Systems from $40.00 to $30.00 and set a "buy" rating on the stock in a report on Thursday. Royal Bank of Canada decreased their target price on Verint Systems from $36.00 to $29.00 and set an "outperform" rating for the company in a report on Thursday. Wedbush cut their price target on shares of Verint Systems from $38.00 to $30.00 and set an "outperform" rating on the stock in a report on Friday. Finally, StockNews.com cut shares of Verint Systems from a "buy" rating to a "hold" rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $30.33.

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Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the stock. Mackenzie Financial Corp grew its stake in shares of Verint Systems by 142.6% during the 4th quarter. Mackenzie Financial Corp now owns 97,757 shares of the technology company's stock worth $2,683,000 after purchasing an additional 57,465 shares during the period. Sherbrooke Park Advisers LLC purchased a new stake in Verint Systems during the fourth quarter worth $768,000. ProShare Advisors LLC grew its position in Verint Systems by 32.4% during the fourth quarter. ProShare Advisors LLC now owns 22,769 shares of the technology company's stock valued at $625,000 after buying an additional 5,571 shares during the period. Man Group plc purchased a new position in Verint Systems in the fourth quarter valued at $221,000. Finally, Millennium Management LLC raised its position in shares of Verint Systems by 62.1% in the fourth quarter. Millennium Management LLC now owns 516,438 shares of the technology company's stock worth $14,176,000 after acquiring an additional 197,893 shares during the period. 94.95% of the stock is currently owned by hedge funds and other institutional investors.

Verint Systems Stock Performance

The company has a debt-to-equity ratio of 0.47, a quick ratio of 1.28 and a current ratio of 1.32. The firm has a market capitalization of $1.11 billion, a PE ratio of 18.88, a price-to-earnings-growth ratio of 0.97 and a beta of 1.29. The firm's 50 day moving average price is $23.75 and its 200-day moving average price is $24.67.

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.