Sumitomo Mitsui Trust Group Inc. Acquires New Position in Versant Corporation $VSNT

Key Points

• Sumitomo Mitsui Trust Group disclosed a new first-quarter position in Versant Corporation, buying 30,449 shares valued at about $1.13 million.
• Other institutions also added or increased stakes, including Massachusetts Financial Services, Janney Montgomery Scott, and New York State Teachers Retirement System, suggesting continued institutional interest in the stock.
• Versant recently beat earnings expectations, reporting $1.99 EPS versus the $1.69 estimate, while analysts currently rate the stock a Hold on average with a consensus target price of $40.40.

Sumitomo Mitsui Trust Group Inc. acquired a new position in shares of Versant Corporation (NASDAQ:VSNT - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 30,449 shares of the company's stock, valued at approximately $1,127,000.

A number of other institutional investors also recently bought and sold shares of the company. Massachusetts Financial Services Co. MA purchased a new stake in shares of Versant in the 4th quarter valued at approximately $24,134,000. Janney Montgomery Scott LLC raised its position in shares of Versant by 3,591.6% during the 1st quarter. Janney Montgomery Scott LLC now owns 166,308 shares of the company's stock valued at $6,157,000 after buying an additional 161,803 shares during the period. New York State Teachers Retirement System purchased a new stake in shares of Versant during the 1st quarter valued at approximately $5,478,000. State of Tennessee Department of Treasury acquired a new position in Versant in the fourth quarter valued at approximately $3,460,000. Finally, SG Americas Securities LLC acquired a new position in Versant in the first quarter valued at approximately $2,813,000.

Analyst Ratings Changes

Several equities research analysts have issued reports on VSNT shares. The Goldman Sachs Group raised 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. Zacks Research lowered Versant from a "strong-buy" rating to a "hold" rating in a research note on Monday, May 4th. JPMorgan Chase & Co. began coverage on Versant in a report on Tuesday, May 12th. They set a "neutral" rating and a $43.00 price target for the company. Seaport Research Partners reissued a "buy" rating and set a $46.00 price objective on shares of Versant in a research report on Monday, May 18th. Finally, Weiss Ratings raised Versant from a "sell (d+)" rating to a "hold (c)" rating in a research report on Thursday, May 21st. One analyst has rated the stock with a Buy rating, six have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $40.40.

Versant Trading Up 3.5%

VSNT stock opened at $36.03 on Thursday. The company has a fifty day moving average price of $39.52. Versant Corporation has a 12-month low of $27.17 and a 12-month high of $59.00. 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 stock has a market cap of $5.08 billion and a P/E ratio of 18.11.

Versant (NASDAQ:VSNT - Get Free Report) last announced its earnings results on Thursday, May 14th. The company reported $1.99 EPS for the quarter, beating analysts' consensus estimates of $1.69 by $0.30. The firm had revenue of $1.69 billion for the quarter. Research analysts predict that Versant Corporation will post 4.38 EPS for the current fiscal year.

Versant Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, July 22nd. Stockholders of record on Wednesday, July 1st will be paid a $0.375 dividend. The ex-dividend date of this dividend is Wednesday, July 1st. Versant's dividend payout ratio (DPR) is presently 75.38%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.