Rhumbline Advisers Boosts Position in Verisign, Inc. (VRSN)

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Rhumbline Advisers boosted its stake in Verisign, Inc. (NASDAQ:VRSN) by 3.7% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 225,173 shares of the information services provider’s stock after purchasing an additional 7,935 shares during the period. Rhumbline Advisers owned about 0.19% of Verisign worth $36,055,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of VRSN. First Trust Advisors LP grew its stake in shares of Verisign by 3.1% in the third quarter. First Trust Advisors LP now owns 1,822,904 shares of the information services provider’s stock worth $291,883,000 after acquiring an additional 54,837 shares in the last quarter. Northern Trust Corp grew its stake in shares of Verisign by 9.3% in the second quarter. Northern Trust Corp now owns 1,339,152 shares of the information services provider’s stock worth $184,027,000 after acquiring an additional 113,409 shares in the last quarter. American Century Companies Inc. grew its stake in shares of Verisign by 1.5% in the third quarter. American Century Companies Inc. now owns 1,056,680 shares of the information services provider’s stock worth $169,196,000 after acquiring an additional 15,724 shares in the last quarter. Janus Henderson Group PLC grew its stake in shares of Verisign by 0.8% in the second quarter. Janus Henderson Group PLC now owns 947,061 shares of the information services provider’s stock worth $130,145,000 after acquiring an additional 7,063 shares in the last quarter. Finally, Schroder Investment Management Group grew its stake in shares of Verisign by 4.8% in the second quarter. Schroder Investment Management Group now owns 839,617 shares of the information services provider’s stock worth $64,137,000 after acquiring an additional 38,232 shares in the last quarter. Hedge funds and other institutional investors own 94.50% of the company’s stock.

Several research firms have commented on VRSN. Citigroup boosted their price target on shares of Verisign from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, November 2nd. JPMorgan Chase & Co. lifted their price objective on shares of Verisign from $123.00 to $125.00 and gave the stock an “average” rating in a research report on Monday, September 24th. BidaskClub raised shares of Verisign from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 30th. Zacks Investment Research reaffirmed a “hold” rating on shares of Verisign in a research report on Saturday. Finally, Robert W. Baird reaffirmed a “hold” rating and set a $160.00 price objective on shares of Verisign in a research report on Friday, July 27th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $154.40.

In other news, Director Kathleen A. Cote sold 2,384 shares of Verisign stock in a transaction on Monday, November 5th. The shares were sold at an average price of $160.50, for a total transaction of $382,632.00. Following the completion of the sale, the director now directly owns 37,594 shares of the company’s stock, valued at approximately $6,033,837. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 1.35% of the stock is currently owned by insiders.

Verisign stock opened at $155.75 on Monday. The firm has a market cap of $18.83 billion, a PE ratio of 42.32 and a beta of 0.98. Verisign, Inc. has a 12-month low of $105.40 and a 12-month high of $176.76.

Verisign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, October 25th. The information services provider reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.13. The business had revenue of $305.78 million during the quarter, compared to analysts’ expectations of $305.25 million. Verisign had a net margin of 41.82% and a negative return on equity of 38.09%. As a group, research analysts anticipate that Verisign, Inc. will post 4.37 earnings per share for the current year.

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Verisign Company 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.

Further Reading: How are Outstanding Shares Different from Authorized Shares?

Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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