Mackay Shields LLC cut its holdings in Verisign, Inc. (NASDAQ:VRSN) by 18.9% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 65,614 shares of the information services provider’s stock after selling 15,295 shares during the period. Mackay Shields LLC’s holdings in Verisign were worth $12,377,000 at the end of the most recent reporting period.
Other institutional investors have also bought and sold shares of the company. Cornerstone Advisors Inc. grew its holdings in Verisign by 35.8% during the 2nd quarter. Cornerstone Advisors Inc. now owns 205 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 54 shares during the last quarter. Ballentine Partners LLC bought a new position in Verisign during the 2nd quarter valued at about $201,000. SG Americas Securities LLC grew its holdings in Verisign by 175.3% during the 2nd quarter. SG Americas Securities LLC now owns 29,580 shares of the information services provider’s stock valued at $6,187,000 after purchasing an additional 18,836 shares during the last quarter. Pendal Group Ltd grew its holdings in Verisign by 1,692.2% during the 2nd quarter. Pendal Group Ltd now owns 17,653 shares of the information services provider’s stock valued at $3,692,000 after purchasing an additional 16,668 shares during the last quarter. Finally, Calton & Associates Inc. grew its holdings in Verisign by 6.8% during the 2nd quarter. Calton & Associates Inc. now owns 2,867 shares of the information services provider’s stock valued at $600,000 after purchasing an additional 183 shares during the last quarter. Hedge funds and other institutional investors own 92.44% of the company’s stock.
Several equities analysts recently commented on VRSN shares. Robert W. Baird upped their price target on shares of Verisign from $210.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Zacks Investment Research upgraded shares of Verisign from a “hold” rating to a “buy” rating and set a $201.00 price target on the stock in a report on Sunday. BidaskClub cut shares of Verisign from a “buy” rating to a “hold” rating in a research report on Tuesday. Finally, ValuEngine cut shares of Verisign from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $212.00.
Verisign stock opened at $185.66 on Thursday. The stock has a market cap of $21.91 billion, a price-to-earnings ratio of 39.09 and a beta of 1.04. Verisign, Inc. has a 1 year low of $138.77 and a 1 year high of $221.78. The firm has a 50-day moving average of $187.01 and a two-hundred day moving average of $199.59.
Verisign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, October 24th. The information services provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. The company had revenue of $308.42 million during the quarter, compared to analysts’ expectations of $308.34 million. Verisign had a net margin of 52.60% and a negative return on equity of 44.38%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the previous year, the company earned $1.23 EPS. On average, research analysts predict that Verisign, Inc. will post 5.12 earnings per share for the current year.
In other Verisign news, Director Timothy Tomlinson sold 295 shares of the business’s stock in a transaction dated Tuesday, October 29th. The shares were sold at an average price of $190.57, for a total value of $56,218.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is owned by insiders.
VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.
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