Versant (NASDAQ:VSNT) Stock Price Down 4.6% – Here’s What Happened

Versant Corporation (NASDAQ:VSNT)’s stock price dropped 4.6% on Friday . The company traded as low as $39.07 and last traded at $39.10. 460,179 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 2,891,733 shares. The stock had previously closed at $40.97.

Analyst Upgrades and Downgrades

VSNT has been the subject of a number of recent analyst reports. Seaport Research Partners reaffirmed a “buy” rating and set a $46.00 price target on shares of Versant in a report on Monday, May 18th. JPMorgan Chase & Co. assumed coverage on shares of Versant in a report on Tuesday, May 12th. They issued a “neutral” rating and a $43.00 price objective on the stock. The Goldman Sachs Group increased their target price on Versant from $37.00 to $42.00 and gave the company a “neutral” rating in a research note on Thursday, May 14th. Weiss Ratings upgraded Versant from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 25th. Finally, Arete Research raised 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 investment analyst has rated the stock with a Buy rating and seven have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $43.20.

Versant Trading Down 4.3%

The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.38 and a current ratio of 2.38. The business has a fifty day simple moving average of $37.52 and a 200 day simple moving average of $37.95. The stock has a market capitalization of $5.44 billion and a price-to-earnings ratio of 11.27.

Versant (NASDAQ:VSNT) last posted its earnings results on Thursday, August 6th. The company reported $1.49 earnings per share for the quarter, topping analysts’ consensus estimates of $1.39 by $0.10. The firm had revenue of $1.64 billion for the quarter. As a group, research analysts expect that Versant Corporation will post 4.04 EPS for the current year.

Versant Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, October 22nd. Investors of record on Thursday, October 1st will be paid a $0.375 dividend. This represents a $1.50 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, October 1st. Versant’s payout ratio is 43.10%.

Institutional Investors Weigh In On Versant

Hedge funds have recently made changes to their positions in the stock. Citizens National Bank Trust Department acquired a new position in Versant during the 1st quarter worth approximately $26,000. Root Financial Partners LLC acquired a new stake in shares of Versant during the 1st quarter valued at $28,000. Parallel Advisors LLC bought a new stake in Versant during the 1st quarter worth $32,000. HB Wealth Management LLC increased its holdings in Versant by 7.8% in the 2nd quarter. HB Wealth Management LLC now owns 11,985 shares of the company’s stock worth $432,000 after purchasing an additional 866 shares in the last quarter. Finally, Advocate Investing Services LLC acquired a new position in Versant in the 1st quarter worth about $33,000.

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.