Insider Selling: Versigent (NYSE:VGNT) Director Sells 49,517 Shares of Stock

Versigent (NYSE:VGNT) Director Kevin Clark sold 49,517 shares of the business’s stock in a transaction on Wednesday, October 7th. The shares were sold at an average price of $45.00, for a total transaction of $2,228,265.00. Following the sale, the director directly owned 75,332 shares of the company’s stock, valued at $3,389,940. This represents a 39.66% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

Versigent Stock Up 0.4%

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

Versigent (NYSE:VGNT) last announced its quarterly earnings data on Tuesday, August 4th. The company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.58 by $0.34. The company had revenue of $2.44 billion for the quarter, compared to the consensus estimate of $2.29 billion. Sell-side analysts forecast that Versigent will post 7.23 earnings per share for the current year.

Versigent Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 18th. Stockholders of record on Friday, September 4th were paid a dividend of $0.13 per share. 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.

Analyst Upgrades and Downgrades

VGNT has been the topic of several research analyst reports. UBS Group dropped their price objective on Versigent from $58.00 to $55.00 and set a “buy” rating on the stock in a research note on Thursday, July 9th. Zacks Research lowered Versigent from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Argus upped their target price on Versigent from $50.00 to $54.00 and gave the stock a “buy” rating in a report on Thursday, August 13th. Wells Fargo & Company increased their price target on Versigent from $48.00 to $56.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 5th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $54.00 price target on shares of Versigent in a research note on Wednesday, August 5th. Eleven research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Versigent has an average rating of “Moderate Buy” and an average target price of $53.92.

Hedge Funds Weigh In On Versigent

A number of hedge funds and other institutional investors have recently modified their holdings of VGNT. GAMMA Investing LLC increased its holdings in Versigent by 54.8% during the third quarter. GAMMA Investing LLC now owns 2,249 shares of the company’s stock valued at $101,000 after buying an additional 796 shares during the period. Farther Finance Advisors LLC boosted its position in Versigent by 53.1% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,052 shares of the company’s stock valued at $47,000 after acquiring an additional 365 shares in the last quarter. HBK Investments L P purchased a new position in shares of Versigent in the 2nd quarter valued at $14,439,000. Sequoia Financial Advisors LLC purchased a new position in shares of Versigent in the 2nd quarter valued at $220,000. Finally, IPG Investment Advisors LLC bought a new position in shares of Versigent in the 2nd quarter worth $871,000.

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.