Delta Investment Management LLC bought a new position in Verisign, Inc. (NASDAQ:VRSN) in the 1st quarter, HoldingsChannel.com reports. The fund bought 12,755 shares of the information services provider’s stock, valued at approximately $2,315,000. Verisign makes up 2.0% of Delta Investment Management LLC’s portfolio, making the stock its 23rd biggest holding.
Several other institutional investors have also modified their holdings of VRSN. Oregon Public Employees Retirement Fund increased its stake in Verisign by 41,120.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,763,452 shares of the information services provider’s stock valued at $25,000 after acquiring an additional 3,754,322 shares during the period. Norges Bank acquired a new position in shares of Verisign in the 4th quarter worth approximately $186,459,000. Vanguard Group Inc boosted its holdings in shares of Verisign by 4.5% in the 3rd quarter. Vanguard Group Inc now owns 11,368,270 shares of the information services provider’s stock worth $1,820,286,000 after acquiring an additional 485,685 shares in the last quarter. Cantillon Capital Management LLC boosted its holdings in shares of Verisign by 41.3% in the 4th quarter. Cantillon Capital Management LLC now owns 1,562,701 shares of the information services provider’s stock worth $231,733,000 after acquiring an additional 456,587 shares in the last quarter. Finally, FMR LLC raised its position in Verisign by 28.3% in the 4th quarter. FMR LLC now owns 1,524,909 shares of the information services provider’s stock worth $226,129,000 after purchasing an additional 336,265 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.
Several research firms recently weighed in on VRSN. Zacks Investment Research upgraded shares of Verisign from a “hold” rating to a “buy” rating and set a $224.00 price objective for the company in a research report on Tuesday, April 30th. BidaskClub upgraded shares of Verisign from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Citigroup restated a “neutral” rating and issued a $195.00 price objective (up previously from $175.00) on shares of Verisign in a research report on Tuesday, March 5th. Finally, ValuEngine upgraded shares of Verisign from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 12th. Three investment analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $180.80.
In other Verisign news, Director Timothy Tomlinson sold 580 shares of the company’s stock in a transaction on Tuesday, February 19th. The shares were sold at an average price of $175.12, for a total transaction of $101,569.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 1.20% of the company’s stock.
VRSN stock traded up $2.76 during trading on Wednesday, hitting $194.01. The company had a trading volume of 4,951 shares, compared to its average volume of 559,313. Verisign, Inc. has a 12 month low of $125.13 and a 12 month high of $203.28. The stock has a market capitalization of $22.55 billion, a PE ratio of 40.75 and a beta of 1.08.
Verisign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.31 earnings per share for the quarter, topping the consensus estimate of $1.25 by $0.06. Verisign had a net margin of 49.98% and a negative return on equity of 43.07%. The firm had revenue of $306.41 million during the quarter, compared to analysts’ expectations of $302.63 million. During the same quarter in the previous year, the company posted $1.07 EPS. Verisign’s revenue was up 2.4% on a year-over-year basis. On average, equities research analysts anticipate that Verisign, Inc. will post 4.96 earnings per share for the current year.
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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