PNC Financial Services Group Inc. Makes New Investment in Versant Corporation $VSNT

Key Points

• PNC Financial Services Group purchased 64,309 Versant shares worth approximately $2.38 million in the first quarter. Several other major institutional investors also initiated positions, including Dimensional Fund Advisors, Principal Financial Group and Bank of New York Mellon.
• Versant reported quarterly earnings of $1.99 per share, exceeding analysts’ $1.69 consensus estimate, on $1.69 billion in revenue. The company also paid a quarterly dividend of $0.375 per share.
• Shares opened at $36.95, down 0.8%, while analysts maintained a consensus “Hold” rating with an average price target of $41.80.

PNC Financial Services Group Inc. bought a new position in shares of Versant Corporation (NASDAQ:VSNT - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 64,309 shares of the company's stock, valued at approximately $2,381,000.

Other hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP purchased a new position in shares of Versant in the first quarter worth about $41,747,000. Principal Financial Group Inc. purchased a new stake in Versant during the 1st quarter valued at about $26,331,000. Bank of New York Mellon Corp acquired a new stake in Versant in the 1st quarter valued at about $24,475,000. Massachusetts Financial Services Co. MA acquired a new stake in Versant in the 4th quarter valued at about $24,134,000. Finally, California Public Employees Retirement System purchased a new position in Versant in the 1st quarter worth approximately $10,733,000.

Versant Stock Down 0.8%

Shares of NASDAQ VSNT opened at $36.95 on Thursday. The company has a market capitalization of $5.21 billion and a P/E ratio of 18.57. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.32 and a quick ratio of 2.32. The company has a 50 day simple moving average of $38.40 and a 200-day simple moving average of $36.69. Versant Corporation has a 1 year low of $27.17 and a 1 year 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 analysts' consensus estimates of $1.69 by $0.30. The business had revenue of $1.69 billion during the quarter. On average, equities research analysts predict that Versant Corporation will post 4.38 earnings per share for the current year.

Versant Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Wednesday, July 22nd. Investors 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 dividend payout ratio (DPR) is presently 75.38%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on VSNT shares. JPMorgan Chase & Co. began coverage on Versant in a report on Tuesday, May 12th. They set a "neutral" rating and a $43.00 target price on the stock. Zacks Research upgraded Versant from a "hold" rating to a "strong-buy" rating in a research report on Friday, July 17th. Weiss Ratings raised Versant from a "sell (d+)" rating to a "hold (c)" rating in a research note on Thursday, May 21st. Arete Research upgraded Versant from a "sell" rating to a "neutral" rating and set a $40.00 target price for the company in a report on Friday, July 17th. Finally, Seaport Research Partners reiterated a "buy" rating and set a $46.00 price target on shares of Versant in a report on Monday, May 18th. One research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the company's stock. According to MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $41.80.

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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