Versant (NASDAQ:VSNT) Shares Gap Up Following Strong Earnings

Key Points

• Versant shares surged after a strong earnings report, opening at $40.06 versus the prior close of $35.79 and later trading near $39.71. Quarterly earnings per share were $1.49, exceeding analyst expectations of $1.39, while revenue reached $1.64 billion.
• The company paid a quarterly dividend of $0.375 per share, representing a 75.38% payout ratio.
• Analyst sentiment remains cautious overall: despite upgrades from some firms, Versant has an average rating of “Hold” and an average price target of $41.80.

Versant Corporation (NASDAQ:VSNT - Get Free Report)'s stock price gapped up before the market opened on Thursday following a stronger than expected earnings report. The stock had previously closed at $35.79, but opened at $40.06. Versant shares last traded at $39.71, with a volume of 684,495 shares traded.

The company reported $1.49 earnings per share for the quarter, beating analysts' consensus estimates of $1.39 by $0.10. The firm had revenue of $1.64 billion for the quarter.

Versant Dividend Announcement

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

Analyst Ratings Changes

VSNT has been the subject of several recent research reports. Arete Research raised shares of Versant from a "sell" rating to a "neutral" rating and set a $40.00 price target for the company in a research note on Friday, July 17th. JPMorgan Chase & Co. initiated coverage on Versant in a research note on Tuesday, May 12th. They issued a "neutral" rating and a $43.00 target price for the company. Seaport Research Partners restated a "buy" rating and set a $46.00 target price on shares of Versant in a report on Monday, May 18th. Zacks Research upgraded Versant from a "hold" rating to a "strong-buy" rating in a report on Friday, July 17th. Finally, The Goldman Sachs Group raised their price target on Versant from $37.00 to $42.00 and gave the stock a "neutral" rating in a research report on Thursday, May 14th. 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. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average target price of $41.80.

Hedge Funds Weigh In On Versant

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

Versant Stock Performance

The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.32 and a current ratio of 2.32. The stock has a market capitalization of $5.70 billion and a P/E ratio of 20.29. The business has a 50-day moving average price of $37.74 and a 200 day moving average price of $36.78.

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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