Hello,
Upon checking it properly, I see that the SEP client installed on the machine is SEP 12.1 with Latest definitions, where as the SEPM has never been updated with the same.
Suggestions:
You need to check the Following.
1) Is the Client Communicating with SEPM??
Click on HELP,
Click on Troubleshooting,
Under General Information, what do you see next to "server"?
2) Did you restart the Client machine after Installing the SEP?
Please Restart the machine
3) Troubleshooting Docs:
Troubleshooting communication problems between the management server and the client
http://www.symantec.com/docs/HOWTO55017
Symantec Endpoint Protection Manager 12.1 Communication Troubleshooting
http://www.symantec.com/docs/TECH160964
Hope that helps!!