Allspring Global Investments Holdings LLC Makes New Investment in Versant Corporation $VSNT

Key Points

• Allspring Global Investments opened a new position in Versant Corporation during the first quarter, buying 140,453 shares worth about $5.22 million.
• Versant reported better-than-expected earnings for the quarter, posting EPS of $1.99 versus the $1.69 consensus estimate, on revenue of $1.69 billion.
• Analysts are still cautious overall: the stock has a Hold consensus rating with an average price target of $41.80, even as some firms recently raised targets or upgraded the shares.

Allspring Global Investments Holdings LLC purchased a new position in shares of Versant Corporation (NASDAQ:VSNT - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 140,453 shares of the company's stock, valued at approximately $5,222,000. Allspring Global Investments Holdings LLC owned approximately 0.10% of Versant at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Principal Financial Group Inc. purchased a new position in Versant during the first quarter valued at approximately $26,331,000. Bank of New York Mellon Corp bought a new stake in Versant during the 1st quarter valued at $24,475,000. Massachusetts Financial Services Co. MA purchased a new position in shares of Versant in the 4th quarter valued at $24,134,000. Hsbc Holdings PLC purchased a new stake in shares of Versant during the 1st quarter worth $6,518,000. Finally, Janney Montgomery Scott LLC boosted its position in Versant by 3,591.6% during the first quarter. Janney Montgomery Scott LLC now owns 166,308 shares of the company's stock valued at $6,157,000 after purchasing an additional 161,803 shares in the last quarter.

Versant Trading Down 1.7%

Shares of NASDAQ:VSNT opened at $35.56 on Friday. The company has a current ratio of 2.32, a quick ratio of 2.32 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $5.02 billion and a PE ratio of 17.87. The business has a 50 day moving average of $38.88 and a two-hundred day moving average of $36.67. Versant Corporation has a 12-month low of $27.17 and a 12-month high of $59.00.

Versant (NASDAQ:VSNT - Get Free Report) last posted its earnings results on Thursday, May 14th. The company reported $1.99 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.69 by $0.30. The firm had revenue of $1.69 billion during the quarter. As a group, analysts forecast that Versant Corporation will post 4.38 EPS for the current year.

Versant Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st were given a $0.375 dividend. The ex-dividend date was Wednesday, July 1st. Versant's payout ratio is 75.38%.

Analyst Ratings Changes

Several research analysts recently commented on VSNT shares. Seaport Research Partners reiterated a "buy" rating and set a $46.00 price objective on shares of Versant in a research note on Monday, May 18th. The Goldman Sachs Group boosted their target price on Versant from $37.00 to $42.00 and gave the stock a "neutral" rating in a research note on Thursday, May 14th. Weiss Ratings raised Versant from a "sell (d+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. Zacks Research raised Versant from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. initiated coverage on Versant in a research note on Tuesday, May 12th. They issued a "neutral" rating and a $43.00 price target for the company. One analyst has rated the stock with a Strong Buy rating, one has issued a Buy rating and six have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $41.80.

Versant Profile

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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