Kevin Clark Sells 74,130 Shares of Versigent (NYSE:VGNT) Stock

Versigent (NYSE:VGNT) Director Kevin Clark sold 74,130 shares of Versigent stock in a transaction dated Wednesday, September 9th. The stock was sold at an average price of $45.67, for a total value of $3,385,517.10. Following the transaction, the director owned 124,849 shares of the company’s stock, valued at $5,701,853.83. The trade was a 37.26% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this link.

Versigent Stock Up 1.2%

NYSE:VGNT opened at $46.98 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.40 and a debt-to-equity ratio of 7.29. The company has a 50 day simple moving average of $44.42. The company has a market capitalization of $3.33 billion and a price-to-earnings ratio of 24.47. Versigent has a 12-month low of $26.34 and a 12-month high of $50.88.

Versigent (NYSE:VGNT) last released its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.58 by $0.34. The business had revenue of $2.44 billion during the quarter, compared to analyst estimates of $2.29 billion. Equities research analysts expect that Versigent will post 7.23 EPS for the current year.

Versigent Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 18th. Shareholders of record on Friday, September 4th will be issued a dividend of $0.13 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $0.52 annualized dividend and a yield of 1.1%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Integrated Wealth Concepts LLC bought a new stake in shares of Versigent in the second quarter valued at about $57,000. Sequoia Financial Advisors LLC acquired a new position in shares of Versigent in the second quarter valued at about $220,000. Kintegral Advisory LLC bought a new position in Versigent during the second quarter worth about $224,000. Engineers Gate Manager LP bought a new position in Versigent during the second quarter worth about $418,000. Finally, Corient Private Wealth LP acquired a new stake in Versigent in the 2nd quarter worth about $426,000.

Wall Street Analyst Weigh In

Several research firms have commented on VGNT. Argus upped their price objective on shares of Versigent from $50.00 to $54.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Zacks Research cut shares of Versigent from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Wells Fargo & Company lifted their target price on shares of Versigent from $48.00 to $56.00 and gave the stock an “overweight” rating in a report on Wednesday, August 5th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $54.00 price target on shares of Versigent in a research note on Wednesday, August 5th. Finally, Royal Bank Of Canada upgraded shares of Versigent from a “sector perform” rating to an “outperform” rating and raised their price objective for the stock from $41.00 to $52.00 in a research report on Wednesday, August 5th. Eleven research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $54.00.

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.