Versant (NASDAQ:VSNT) Shares Gap Up After Strong Earnings

Versant Corporation (NASDAQ:VSNTGet Free Report)’s stock price gapped up before the market opened on Thursday following a better than expected earnings announcement. The stock had previously closed at $40.44, but opened at $43.25. Versant shares last traded at $44.26, with a volume of 802,518 shares traded.

The company reported $1.99 earnings per share for the quarter, beating analysts’ consensus estimates of $1.69 by $0.30. The firm had revenue of $1.69 billion during the quarter.

Versant Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, April 22nd. Stockholders of record on Wednesday, April 1st were issued a dividend of $0.375 per share. The ex-dividend date was Wednesday, April 1st.

Key Versant News

Here are the key news stories impacting Versant this week:

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Wall Street Zen upgraded shares of Versant to a “hold” rating in a report on Saturday, January 24th. The Goldman Sachs Group started coverage on shares of Versant in a research report on Tuesday, January 27th. They issued a “neutral” rating and a $34.00 price objective for the company. Seaport Research Partners started coverage on shares of Versant in a research note on Tuesday, March 31st. They issued a “buy” rating and a $45.00 target price on the stock. JPMorgan Chase & Co. began coverage on shares of Versant in a report on Tuesday. They set a “neutral” rating and a $43.00 target price on the stock. Finally, Zacks Research cut shares of Versant from a “strong-buy” rating to a “hold” rating in a research report on Monday, May 4th. One analyst has rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, Versant presently has an average rating of “Reduce” and an average target price of $38.80.

Get Our Latest Stock Report on VSNT

Insider Activity

In other news, Director Michael Aaron Conway purchased 1,350 shares of the stock in a transaction that occurred on Monday, March 9th. The stock was acquired at an average cost of $36.14 per share, with a total value of $48,789.00. Following the acquisition, the director owned 3,728 shares in the company, valued at approximately $134,729.92. This trade represents a 56.77% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gerald L. Hassell purchased 10,000 shares of the company’s stock in a transaction that occurred on Monday, March 9th. The shares were purchased at an average cost of $36.07 per share, for a total transaction of $360,700.00. Following the purchase, the director directly owned 12,680 shares in the company, valued at $457,367.60. This trade represents a 373.13% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Over the last three months, insiders bought 154,350 shares of company stock worth $5,679,039. 7.60% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the business. Citizens National Bank Trust Department purchased a new position in Versant in the first quarter valued at about $26,000. Root Financial Partners LLC purchased a new stake in Versant during the 1st quarter worth approximately $28,000. Parallel Advisors LLC acquired a new position in shares of Versant in the 1st quarter valued at approximately $32,000. Advocate Investing Services LLC acquired a new position in shares of Versant in the 1st quarter valued at approximately $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new position in shares of Versant during the 1st quarter valued at approximately $35,000.

Versant Stock Performance

The company has a debt-to-equity ratio of 0.09, a quick ratio of 4.02 and a current ratio of 4.02. The company has a 50-day moving average of $38.32.

Versant Company Profile

(Get Free Report)

Versant Corporation is a provider of data management software. The Company designs, develops, markets and supports database management system products that companies use to solve data management and data integration issues. It also provides related product support, training and consulting services to assist users of the Company’s products in developing and deploying software applications based on its products. The Company’s Versant Object Database product is used primarily by enterprises, which have data management requirements, such as technology providers, telecommunications carriers, Government defense agencies, defense contractors, healthcare companies and companies in the financial services and transportation industries.

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