Royal Bank of Canada Has $2.95 Million Stock Holdings in Versant Corporation $VSNT

Key Points

• Royal Bank of Canada dramatically increased its Versant stake by purchasing 79,802 additional shares, bringing its total to 79,805 shares valued at approximately $2.95 million, or 0.06% of the company.
• Wall Street analysts remain generally neutral, with six Hold ratings and an average price target of $43.20, compared with Versant’s recent share price of $39.65.
• Versant beat quarterly earnings expectations, reporting $1.49 in EPS versus the $1.39 consensus estimate, while revenue reached $1.64 billion.

Royal Bank of Canada boosted its holdings in shares of Versant Corporation (NASDAQ:VSNT - Free Report) by 2,660,066.7% in the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 79,805 shares of the company's stock after purchasing an additional 79,802 shares during the quarter. Royal Bank of Canada owned about 0.06% of Versant worth $2,954,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VSNT. Citizens National Bank Trust Department bought a new position in Versant in the 1st quarter worth approximately $26,000. Root Financial Partners LLC bought a new stake in shares of Versant in the first quarter valued at approximately $28,000. Parallel Advisors LLC bought a new stake in shares of Versant in the first quarter valued at approximately $32,000. Advocate Investing Services LLC bought a new stake in shares of Versant in the first quarter valued at approximately $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt acquired a new stake in shares of Versant in the first quarter worth $35,000.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on VSNT. TD Cowen boosted their target price on shares of Versant from $35.00 to $39.00 and gave the stock a "hold" rating in a research report on Friday, August 7th. Weiss Ratings downgraded shares of Versant from a "hold (c)" rating to a "hold (c-)" rating in a report on Tuesday. The Goldman Sachs Group raised their price target on shares of Versant from $37.00 to $42.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. JPMorgan Chase & Co. initiated 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. Finally, Arete Research raised shares of Versant from a "sell" rating to a "neutral" rating and set a $40.00 price objective for the company in a research report on Friday, July 17th. 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 MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $43.20.

Versant Price Performance

Shares of NASDAQ:VSNT opened at $39.65 on Friday. Versant Corporation has a 1-year low of $27.17 and a 1-year high of $59.00. The firm has a market capitalization of $5.50 billion and a PE ratio of 11.39. The business's 50 day moving average is $37.25 and its 200-day moving average is $37.02. The company has a current ratio of 2.38, a quick ratio of 2.38 and a debt-to-equity ratio of 0.35.

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

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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