Verisign, Inc. (VRSN) Shares Bought by BlueMountain Capital Management LLC

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BlueMountain Capital Management LLC boosted its stake in shares of Verisign, Inc. (NASDAQ:VRSN) by 258.9% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 42,346 shares of the information services provider’s stock after acquiring an additional 30,546 shares during the quarter. BlueMountain Capital Management LLC’s holdings in Verisign were worth $5,819,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. CIBC Asset Management Inc lifted its position in shares of Verisign by 2.5% during the second quarter. CIBC Asset Management Inc now owns 13,209 shares of the information services provider’s stock worth $1,815,000 after purchasing an additional 328 shares in the last quarter. Liberty Mutual Group Asset Management Inc. lifted its position in shares of Verisign by 12.1% during the second quarter. Liberty Mutual Group Asset Management Inc. now owns 3,838 shares of the information services provider’s stock worth $527,000 after purchasing an additional 413 shares in the last quarter. Fiera Capital Corp lifted its position in shares of Verisign by 15.5% during the first quarter. Fiera Capital Corp now owns 3,172 shares of the information services provider’s stock worth $376,000 after purchasing an additional 425 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of Verisign by 1.1% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,820 shares of the information services provider’s stock worth $5,472,000 after purchasing an additional 429 shares in the last quarter. Finally, Eqis Capital Management Inc. lifted its position in shares of Verisign by 8.0% during the second quarter. Eqis Capital Management Inc. now owns 5,827 shares of the information services provider’s stock worth $801,000 after purchasing an additional 430 shares in the last quarter. 93.29% of the stock is owned by institutional investors.

Several brokerages have recently issued reports on VRSN. BidaskClub raised shares of Verisign from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 30th. JPMorgan Chase & Co. increased their price target on shares of Verisign from $122.00 to $123.00 and gave the stock an “underweight” rating in a research report on Friday, July 27th. Robert W. Baird reaffirmed a “hold” rating and issued a $160.00 target price on shares of Verisign in a report on Friday, July 27th. Finally, Cowen reaffirmed a “hold” rating and issued a $155.00 target price on shares of Verisign in a report on Friday, July 27th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, one has issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $138.60.

Shares of NASDAQ:VRSN opened at $156.38 on Thursday. The company has a market capitalization of $19.34 billion, a P/E ratio of 42.81 and a beta of 0.90. Verisign, Inc. has a fifty-two week low of $102.06 and a fifty-two week high of $160.08. The company has a debt-to-equity ratio of -1.29, a quick ratio of 1.33 and a current ratio of 1.33.

Verisign (NASDAQ:VRSN) last issued its earnings results on Thursday, July 26th. The information services provider reported $1.18 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.14 by $0.04. The firm had revenue of $302.40 million for the quarter, compared to analysts’ expectations of $302.47 million. Verisign had a net margin of 40.38% and a negative return on equity of 37.20%. The firm’s revenue was up 4.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 earnings per share. analysts predict that Verisign, Inc. will post 4.3 earnings per share for the current fiscal year.

Verisign Profile

VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.

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Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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