Zurich Insurance Group Ltd FI purchased a new position in VeriSign, Inc. (NASDAQ:VRSN) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 19,291 shares of the information services provider’s stock, valued at approximately $1,793,000.
Several other institutional investors and hedge funds also recently modified their holdings of VRSN. BlackRock Inc. boosted its position in shares of VeriSign by 1,765.9% in the 1st quarter. BlackRock Inc. now owns 7,706,691 shares of the information services provider’s stock worth $671,330,000 after purchasing an additional 7,293,666 shares in the last quarter. Renaissance Technologies LLC boosted its position in shares of VeriSign by 22.9% in the 2nd quarter. Renaissance Technologies LLC now owns 5,045,476 shares of the information services provider’s stock worth $469,027,000 after purchasing an additional 941,100 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of VeriSign by 3.4% in the 2nd quarter. Vanguard Group Inc. now owns 8,782,015 shares of the information services provider’s stock worth $816,376,000 after purchasing an additional 292,054 shares in the last quarter. Investec Asset Management LTD boosted its position in shares of VeriSign by 11.0% in the 2nd quarter. Investec Asset Management LTD now owns 2,486,365 shares of the information services provider’s stock worth $231,132,000 after purchasing an additional 247,127 shares in the last quarter. Finally, First Trust Advisors LP boosted its position in shares of VeriSign by 17.5% in the 2nd quarter. First Trust Advisors LP now owns 1,168,079 shares of the information services provider’s stock worth $108,585,000 after purchasing an additional 173,907 shares in the last quarter.
VeriSign, Inc. (NASDAQ VRSN) opened at 109.92 on Friday. The company has a market capitalization of $10.98 billion, a PE ratio of 29.96 and a beta of 1.19. The company has a 50-day moving average price of $104.00 and a 200 day moving average price of $95.42. VeriSign, Inc. has a 52-week low of $74.46 and a 52-week high of $109.97.
VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, July 27th. The information services provider reported $1.05 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.06. VeriSign had a net margin of 39.92% and a negative return on equity of 36.99%. The business had revenue of $289.00 million for the quarter, compared to analyst estimates of $287.47 million. During the same period in the previous year, the company earned $0.91 earnings per share. The business’s revenue for the quarter was up .9% on a year-over-year basis. Equities research analysts anticipate that VeriSign, Inc. will post $3.97 earnings per share for the current year.
In other VeriSign news, Director Timothy Tomlinson sold 1,240 shares of VeriSign stock in a transaction on Tuesday, August 1st. The shares were sold at an average price of $101.00, for a total value of $125,240.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Kathleen A. Cote sold 1,500 shares of VeriSign stock in a transaction on Tuesday, August 22nd. The stock was sold at an average price of $99.94, for a total transaction of $149,910.00. Following the completion of the transaction, the director now directly owns 38,294 shares in the company, valued at $3,827,102.36. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by insiders.
VRSN has been the topic of a number of analyst reports. BidaskClub raised VeriSign from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 22nd. Cowen and Company reissued a “market perform” rating and issued a $94.00 price target on shares of VeriSign in a research report on Monday, July 3rd. Zacks Investment Research cut VeriSign from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Finally, Robert W. Baird reaffirmed a “hold” rating and issued a $105.00 price objective on shares of VeriSign in a research report on Thursday, August 31st. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $99.50.
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VeriSign Company Profile
VeriSign, Inc is a provider of domain name registry services and Internet security. The Company operates through Registry Services and Security Services segment. Registry Services ensure the security, stability and resiliency of Internet infrastructure and services, including the .com and .net domains, and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS).
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