Nordea Investment Management AB boosted its stake in shares of Verisign, Inc. (NASDAQ:VRSN) by 38.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 89,133 shares of the information services provider’s stock after buying an additional 24,559 shares during the period. Nordea Investment Management AB owned 0.09% of Verisign worth $7,764,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Sumitomo Mitsui Trust Holdings Inc. raised its position in Verisign by 1.5% in the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 327,436 shares of the information services provider’s stock valued at $25,619,000 after buying an additional 4,832 shares during the period. APG Asset Management N.V. raised its position in Verisign by 27.0% in the third quarter. APG Asset Management N.V. now owns 266,570 shares of the information services provider’s stock valued at $20,856,000 after buying an additional 56,676 shares during the period. Quantbot Technologies LP bought a new position in Verisign during the third quarter valued at about $1,185,000. NEXT Financial Group Inc bought a new position in Verisign during the third quarter valued at about $492,000. Finally, First Trust Advisors LP raised its stake in shares of Verisign by 3.7% in the third quarter. First Trust Advisors LP now owns 1,033,767 shares of the information services provider’s stock worth $80,882,000 after buying an additional 36,980 shares during the last quarter.
Shares of Verisign, Inc. (NASDAQ:VRSN) traded up 0.72% on Friday, reaching $89.19. The company’s stock had a trading volume of 737,773 shares. The stock has a 50-day moving average price of $88.76 and a 200-day moving average price of $83.40. Verisign, Inc. has a 1-year low of $74.01 and a 1-year high of $91.80. The company has a market capitalization of $9.05 billion, a price-to-earnings ratio of 25.19 and a beta of 1.20.
Verisign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, April 27th. The information services provider reported $0.86 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.86. The company had revenue of $288.60 million for the quarter, compared to analysts’ expectations of $284.70 million. Verisign had a negative return on equity of 36.88% and a net margin of 38.58%. The firm’s quarterly revenue was up 2.4% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.85 earnings per share. On average, equities research analysts forecast that Verisign, Inc. will post $3.94 EPS for the current year.
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A number of brokerages have recently weighed in on VRSN. Zacks Investment Research upgraded Verisign from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Tuesday, May 2nd. Citigroup Inc raised Verisign from a “sell” rating to a “neutral” rating in a report on Wednesday, April 12th. Cowen and Company lifted their target price on Verisign from $89.00 to $94.00 and gave the stock a “market perform” rating in a report on Monday, April 3rd. Finally, Robert W. Baird reaffirmed a “neutral” rating and set a $85.00 target price on shares of Verisign in a report on Tuesday, February 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $87.40.
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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