Bank of New York Mellon Corp Buys Shares of 661,128 Versant Corporation $VSNT

Key Points

• Bank of New York Mellon bought 661,128 Versant shares worth approximately $24.5 million, representing about 0.47% of the company. Several other institutional investors also initiated or increased positions.
• Analyst sentiment remains cautious: Versant has a consensus “Hold” rating and an average price target of $41.80, compared with the stock’s reported price of $37.24.
• Versant exceeded quarterly earnings expectations, reporting $1.99 in EPS versus the $1.69 consensus estimate, and paid a quarterly dividend of $0.375 per share.

Bank of New York Mellon Corp purchased a new stake in Versant Corporation (NASDAQ:VSNT - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 661,128 shares of the company's stock, valued at approximately $24,475,000. Bank of New York Mellon Corp owned approximately 0.47% of Versant as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Hsbc Holdings PLC purchased a new position in shares of Versant during the 1st quarter worth $6,518,000. Principal Financial Group Inc. acquired a new position in shares of Versant during the 1st quarter valued at about $26,331,000. Oregon Public Employees Retirement Fund purchased a new position in shares of Versant during the 1st quarter worth about $1,230,000. Sequoia Financial Advisors LLC purchased a new position in shares of Versant during the 1st quarter worth about $1,043,000. Finally, Massachusetts Financial Services Co. MA acquired a new stake in shares of Versant in the fourth quarter worth approximately $24,134,000.

Wall Street Analyst Weigh In

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

Versant Stock Performance

NASDAQ:VSNT opened at $37.24 on Wednesday. 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 firm has a market capitalization of $5.26 billion and a price-to-earnings ratio of 18.71. The firm's fifty day simple moving average is $38.49 and its 200 day simple moving average is $36.67. Versant Corporation has a twelve month low of $27.17 and a twelve month high of $59.00.

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

Versant Dividend Announcement

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

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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