Bank of America Corp DE Makes New Investment in Versant Corporation $VSNT

Key Points

• Bank of America purchased 683,884 Versant shares worth approximately $25.3 million, representing about 0.48% of the company. Several other institutional investors also initiated positions during the first quarter.
• Versant reported quarterly EPS of $1.49, exceeding analyst expectations of $1.39, on revenue of $1.64 billion. Analysts expect full-year EPS of approximately $4.04.
• VSNT shares opened at $39.23, while analysts maintain a consensus “Hold” rating and an average price target of $43.20; individual targets range from $40 to $46.

Bank of America Corp DE purchased a new position in shares of Versant Corporation (NASDAQ:VSNT - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 683,884 shares of the company's stock, valued at approximately $25,317,000. Bank of America Corp DE owned about 0.48% of Versant at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently modified their holdings of VSNT. Janus Henderson Group PLC bought a new position in shares of Versant during the 1st quarter valued at approximately $2,544,000. Bull Harbor Capital LLC purchased a new stake in shares of Versant in the first quarter worth $352,000. South Dakota Investment Council purchased a new position in shares of Versant during the 1st quarter valued at $1,382,000. Amundi purchased a new position in shares of Versant during the 1st quarter valued at $1,359,000. Finally, EverSource Wealth Advisors LLC bought a new position in Versant in the 1st quarter worth $112,000.

Versant Price Performance

NASDAQ:VSNT opened at $39.23 on Tuesday. The firm has a market capitalization of $5.44 billion and a price-to-earnings ratio of 11.27. Versant Corporation has a 1 year low of $27.17 and a 1 year high of $59.00. The business has a 50 day simple moving average of $37.21 and a 200-day simple moving average of $37.10. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.38 and a quick ratio of 2.38.

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

Analysts Set New Price Targets

VSNT has been the topic of a number of recent analyst reports. Seaport Research Partners reissued a "buy" rating and set a $46.00 price target on shares of Versant in a report on Monday, May 18th. JPMorgan Chase & Co. initiated coverage on Versant in a report on Tuesday, May 12th. They issued a "neutral" rating and a $43.00 price target on the stock. Zacks Research upgraded shares of Versant from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. Arete Research raised shares of Versant from a "sell" rating to a "neutral" rating and set a $40.00 target price on the stock in a report on Friday, July 17th. Finally, Weiss Ratings downgraded shares of Versant from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday, August 11th. One equities research analyst has rated the stock with a Strong Buy rating, one has given a Buy rating and six have given a Hold rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $43.20.

Versant Company 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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