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

Shares of Versant Corporation (NASDAQ:VSNT) gapped up before the market opened on Thursday after the company announced better than expected quarterly earnings. 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 changing hands.

The company reported $1.49 EPS for the quarter, beating the consensus estimate of $1.39 by $0.10. The firm had revenue of $1.64 billion for the quarter.

Versant Dividend Announcement

The firm also recently declared 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 was Wednesday, July 1st. Versant’s payout ratio is currently 75.38%.

Analysts Set New Price Targets

A number of analysts have recently issued reports on the stock. Weiss Ratings raised shares of Versant from a “sell (d+)” rating to a “hold (c)” rating in a report on Thursday, May 21st. Arete Research upgraded shares of Versant from a “sell” rating to a “neutral” rating and set a $40.00 target price for the company in a research note on Friday, July 17th. Seaport Research Partners reaffirmed a “buy” rating and issued a $46.00 price objective on shares of Versant in a report on Monday, May 18th. 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 report on Thursday, May 14th. Finally, JPMorgan Chase & Co. started coverage on shares of Versant in a research note on Tuesday, May 12th. They issued a “neutral” rating and a $43.00 price objective on the stock. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and six have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.80.

Hedge Funds Weigh In On Versant

Hedge funds have recently modified their holdings of the company. Citizens National Bank Trust Department purchased a new position in shares of Versant during the 1st quarter valued at $26,000. Root Financial Partners LLC bought a new stake in Versant during the first quarter valued at about $28,000. Parallel Advisors LLC purchased a new position in shares of Versant in the first quarter valued at about $32,000. Advocate Investing Services LLC bought a new position in shares of Versant in the first quarter worth about $33,000. Finally, Livforsakringsbolaget Skandia Omsesidigt purchased a new stake in shares of Versant during the first quarter worth about $35,000.

Versant Price Performance

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

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.