In a recent transaction, Peter Fante, the Chief Administrative Officer of Verint Systems Inc. (NASDAQ:VRNT), sold 6,330 shares of the company's common stock. The transaction, which took place on September 16, 2024, was executed at a weighted average price of $25.85 per share, with individual sale prices ranging from $24.86 to $26.83. This sale resulted in a total value of approximately $163,630.
The sale of shares by Fante was conducted to satisfy applicable tax withholding obligations that arose from the vesting of previously disclosed awards of restricted stock units. Following the transaction, Fante's holdings in Verint Systems Inc. decreased to 91,334 shares of common stock.
Investors and followers of Verint Systems Inc. may be interested in these transactions as they reflect the actions of a high-level executive within the company. It's worth noting that the details provided, including the range of sale prices, underscore the transparency of the process and the compliance with regulatory requirements.
Verint Systems Inc., a company incorporated in Delaware and operating in the computer integrated systems design industry, is headquartered in Melville, NY. The company's fiscal year ends on January 31, and it is recognized under the Services-Computer Integrated Systems Design [7373] category for standard industrial classification.
For those interested in the specifics of the transaction, Peter Fante has indicated a willingness to provide full information regarding the number of shares sold at each separate price to the Securities and Exchange Commission staff, the issuer, or any security holder of the issuer upon request.
In other recent news, Verint Systems Inc. reported noteworthy growth in artificial intelligence (AI) bookings and bundled Software as a Service (SaaS) revenue in the second quarter of 2025. The company experienced a 40% year-over-year increase in new AI bookings and a 15% rise in AI-driven bundled SaaS revenue. Despite a slowdown in bundled SaaS growth, TD Cowen, an analyst firm, maintains a Buy rating for Verint Systems and remains optimistic about the company's potential in the AI space.
Verint Systems reaffirmed its financial guidance for the fiscal year 2025 and set targets for the fiscal year 2027, aiming for a 'rule-of-40' performance, which implies a combined revenue growth and EBITDA margin that equals 40%. Following these recent developments, Verint completed a $200 million share buyback and announced a new buyback program of the same value.
Lower than expected AI conversions were noted, however, this has not impacted overall revenue due to expansion in unbundled SaaS. Verint's focus on AI in the customer engagement sector has attracted new customers and solidified its industry position. These recent developments underscore Verint's commitment to AI innovation and financial growth.
InvestingPro Insights
Verint Systems Inc. (NASDAQ:VRNT) has shown some noteworthy financial metrics and market movements that may interest investors following the recent insider transaction. As of the last twelve months leading up to Q2 2025, Verint Systems achieved a gross profit margin of 71.36%, indicating a strong ability to retain earnings from its revenue. The company's operating income margin stood at 12.16%, reflecting its operational efficiency.
Despite the recent sale by Chief Administrative Officer Peter Fante, Verint Systems Inc. is currently trading at a price that is 69.32% of its 52-week high, with a closing price of $26.36 as of the previous session. The market capitalization of the company stands at $1.64 billion USD, which may be a point of analysis for those assessing the company's size and investment potential.
Among the InvestingPro Tips for Verint Systems, two particularly stand out in relation to the article. Firstly, Verint has a perfect Piotroski Score of 9, which suggests strong financial health. Secondly, management has been aggressively buying back shares, which can be a sign of confidence in the company's future prospects and could potentially offset the sale made by Fante. Investors might find these actions reassuring, especially when considering executive transactions within the company.
For more detailed analysis and additional InvestingPro Tips, investors can explore the full suite of insights available for Verint Systems Inc. on InvestingPro, which includes a total of 12 tips to help inform investment decisions.
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