Victory Capital Management Inc. raised its position in shares of VeriSign Inc. (NASDAQ:VRSN) by 3.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 8,186 shares of the company’s stock after buying an additional 302 shares during the period. Victory Capital Management Inc.’s holdings in VeriSign were worth $708,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ameriprise Financial Inc. increased its position in shares of VeriSign by 3.4% in the second quarter. Ameriprise Financial Inc. now owns 3,258,516 shares of the company’s stock worth $281,732,000 after buying an additional 106,978 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of VeriSign by 14.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,133,620 shares of the company’s stock worth $277,451,000 after buying an additional 393,377 shares in the last quarter. Investec Asset Management LTD boosted its stake in VeriSign by 34.4% in the first quarter. Investec Asset Management LTD now owns 1,655,246 shares of the company’s stock worth $146,555,000 after buying an additional 423,210 shares during the last quarter. BlackRock Group LTD boosted its stake in VeriSign by 10.7% in the first quarter. BlackRock Group LTD now owns 1,099,123 shares of the company’s stock worth $97,315,000 after buying an additional 106,023 shares during the last quarter. Finally, Bridger Management LLC purchased a new stake in VeriSign during the first quarter worth about $36,446,000.
Shares of VeriSign Inc. (NASDAQ:VRSN) traded up 0.50% during mid-day trading on Tuesday, hitting $78.62. The company’s stock had a trading volume of 297,047 shares. VeriSign Inc. has a 1-year low of $67.04 and a 1-year high of $93.94. The company has a 50-day moving average price of $77.46 and a 200-day moving average price of $83.92. The stock has a market cap of $8.39 billion, a PE ratio of 25.05 and a beta of 1.26.
VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, July 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. VeriSign had a net margin of 37.47% and a negative return on equity of 37.96%. The business had revenue of $286 million for the quarter, compared to analysts’ expectations of $284.34 million. During the same period in the prior year, the company posted $0.74 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts predict that VeriSign Inc. will post $3.49 EPS for the current fiscal year.
VRSN has been the subject of a number of research reports. Cowen and Company reissued a “market perform” rating and set a $80.00 price objective on shares of VeriSign in a research report on Tuesday, September 6th. JPMorgan Chase & Co. lifted their price objective on VeriSign from $84.00 to $88.00 and gave the company an “underweight” rating in a research report on Friday, July 29th. Citigroup Inc. reissued a “sell” rating and set a $70.00 price objective on shares of VeriSign in a research report on Friday. Finally, Zacks Investment Research cut VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th.
In other VeriSign news, Director Timothy Tomlinson sold 1,477 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $85.30, for a total value of $125,988.10. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 0.92% of the stock is currently owned by company insiders.
VeriSign, Inc is a provider of domain name registry services and Internet security, enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world (Registry Services). The Company operates in Registry Services and Security Services segment. Its product suite also includes Security Services consisting of Distributed Denial of Service (DDoS) Protection Services, Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services.
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