Allianz Asset Management GmbH Buys Shares of 446,099 Versant Corporation $VSNT

Key Points

• Allianz Asset Management bought 446,099 shares of Versant in the second quarter, worth approximately $16.1 million and representing about 0.32% of the company. Several other major institutions also initiated or expanded positions.
• Versant reported quarterly earnings of $1.49 per share, exceeding analysts’ $1.39 estimate, on revenue of $1.64 billion. Analysts expect full-year EPS of approximately $4.04.
• Versant declared a quarterly dividend of $0.375, or $1.50 annually, yielding about 3.9%. Analysts maintain a consensus “Hold” rating with an average price target of $43.20, compared with a recent share price of $38.25.

Allianz Asset Management GmbH purchased a new stake in Versant Corporation (NASDAQ:VSNT - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund purchased 446,099 shares of the company's stock, valued at approximately $16,064,000. Allianz Asset Management GmbH owned approximately 0.32% of Versant as of its most recent filing with the SEC.

Other hedge funds have also recently modified their holdings of the company. California State Teachers Retirement System lifted its position in Versant by 3,358.7% during the second quarter. California State Teachers Retirement System now owns 5,971,970 shares of the company's stock valued at $215,051,000 after acquiring an additional 5,799,303 shares during the last quarter. Dimensional Fund Advisors LP purchased a new position in shares of Versant in the 1st quarter valued at approximately $41,747,000. Principal Financial Group Inc. purchased a new position in shares of Versant in the 1st quarter valued at approximately $26,331,000. Bank of America Corp DE acquired a new stake in Versant in the 1st quarter worth approximately $25,317,000. Finally, Bank of New York Mellon Corp acquired a new stake in Versant in the 1st quarter worth approximately $24,475,000.

Versant Price Performance

NASDAQ:VSNT opened at $38.25 on Wednesday. The firm's fifty day moving average is $37.67 and its two-hundred day moving average is $38.15. The firm has a market cap of $5.31 billion and a price-to-earnings ratio of 10.99. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.38 and a current ratio of 2.38. Versant Corporation has a one year low of $27.17 and a one year high of $59.00.

Versant (NASDAQ:VSNT - Get Free Report) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.10. The company had revenue of $1.64 billion for the quarter. Research analysts expect that Versant Corporation will post 4.04 EPS for the current year.

Versant Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 22nd. Shareholders of record on Thursday, October 1st will be given a $0.375 dividend. This represents a $1.50 annualized dividend and a yield of 3.9%. The ex-dividend date is Thursday, October 1st. Versant's dividend payout ratio is currently 43.10%.

Analysts Set New Price Targets

A number of research analysts have issued reports on VSNT shares. TD Cowen upped their price target on shares of Versant from $35.00 to $39.00 and gave the company a "hold" rating in a research note on Friday, August 7th. The Goldman Sachs Group lifted their price objective on shares of Versant from $37.00 to $42.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. JPMorgan Chase & Co. started coverage on shares of Versant in a report on Tuesday, May 12th. They set a "neutral" rating and a $43.00 price objective on the stock. Arete Research raised Versant from a "sell" rating to a "neutral" rating and set a $40.00 target price on the stock in a research report on Friday, July 17th. Finally, Weiss Ratings upgraded Versant from a "hold (c-)" rating to a "hold (c)" rating in a research note on Tuesday, August 25th. One investment analyst has rated the stock with a Buy rating and seven have assigned a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average target price of $43.20.

About Versant

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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