Insider Selling: Versigent (NYSE:VGNT) Director Sells $2,118,677.96 in Stock

Versigent (NYSE:VGNT) Director Kevin Clark sold 47,761 shares of the firm’s stock in a transaction dated Thursday, October 8th. The stock was sold at an average price of $44.36, for a total value of $2,118,677.96. Following the sale, the director owned 27,571 shares of the company’s stock, valued at $1,223,049.56. The trade was a 63.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Versigent Price Performance

VGNT traded up $0.15 on Friday, reaching $44.31. 543,823 shares of the company traded hands, compared to its average volume of 1,622,576. Versigent has a 52-week low of $26.34 and a 52-week high of $50.88. The company has a current ratio of 1.40, a quick ratio of 1.09 and a debt-to-equity ratio of 7.29. The stock has a market cap of $3.14 billion and a P/E ratio of 23.08. The business has a 50 day moving average price of $46.31.

Versigent (NYSE:VGNT) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.58 by $0.34. The firm had revenue of $2.44 billion for the quarter, compared to analysts’ expectations of $2.29 billion. As a group, equities research analysts forecast that Versigent will post 7.23 earnings per share for the current fiscal year.

Versigent Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 18th. Investors of record on Friday, September 4th were paid a $0.13 dividend. This represents a $0.52 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Friday, September 4th.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on VGNT shares. Royal Bank Of Canada upgraded shares of Versigent from a “sector perform” rating to an “outperform” rating and raised their target price for the company from $41.00 to $52.00 in a research note on Wednesday, August 5th. Zacks Research cut Versigent from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $54.00 price objective on shares of Versigent in a report on Wednesday, August 5th. Evercore reaffirmed an “outperform” rating and issued a $65.00 target price on shares of Versigent in a report on Monday, August 10th. Finally, UBS Group cut their price target on shares of Versigent from $58.00 to $55.00 and set a “buy” rating for the company in a report on Thursday, July 9th. Eleven equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $53.92.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Allianz Asset Management GmbH acquired a new position in shares of Versigent during the second quarter valued at $20,602,000. HBK Investments L P bought a new position in shares of Versigent during the second quarter worth $14,439,000. Steamboat Capital Partners LLC bought a new position in Versigent during the second quarter worth about $10,385,000. WINTON GROUP Ltd acquired a new position in shares of Versigent in the 2nd quarter valued at approximately $8,397,000. Finally, Nan Shan Life Insurance Co. Ltd. acquired a new position in shares of Versigent in the second quarter valued at approximately $5,400,000.

Versigent Company Profile

Versigent PLC is involved in the design, manufacturing and delivery of low and high voltage power electrical architectures. Versigent PLC is based in SCHAFFHAUSEN, Switzerland.