Huntington National Bank acquired a new position in shares of Verisign, Inc. (NASDAQ:VRSN) in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund acquired 800 shares of the information services provider’s stock, valued at approximately $145,000.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in VRSN. Oregon Public Employees Retirement Fund boosted its stake in shares of Verisign by 41,120.7% in 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 purchasing an additional 3,754,322 shares during the period. Athena Capital Advisors LLC purchased a new position in shares of Verisign in the fourth quarter valued at $39,000. Bessemer Group Inc. boosted its stake in shares of Verisign by 43.5% in the fourth quarter. Bessemer Group Inc. now owns 277 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 84 shares during the period. Signet Investment Advisory Group Inc. purchased a new position in shares of Verisign in the fourth quarter valued at $44,000. Finally, Sage Capital Advisors llc purchased a new position in shares of Verisign in the fourth quarter valued at $62,000. Institutional investors own 94.04% of the company’s stock.
Several brokerages have recently weighed in on VRSN. BidaskClub upgraded shares of Verisign from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Citigroup reaffirmed a “neutral” rating and issued a $195.00 price target (up from $175.00) on shares of Verisign in a report on Tuesday, March 5th. ValuEngine raised shares of Verisign from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 12th. Finally, Zacks Investment Research cut shares of Verisign from a “buy” rating to a “hold” rating in a report on Monday, February 11th. Four investment analysts have rated the stock with a hold rating, one has issued a buy rating and two have given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $175.00.
In other Verisign news, Director Timothy Tomlinson sold 580 shares of the 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 SEC, which is available through the SEC website. 1.35% of the stock is currently owned by corporate insiders.
VRSN opened at $189.05 on Tuesday. The firm has a market capitalization of $22.70 billion, a P/E ratio of 39.80 and a beta of 1.07. Verisign, Inc. has a 12-month low of $116.15 and a 12-month high of $191.20.
Verisign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, February 7th. The information services provider reported $1.58 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.21 by $0.37. The firm had revenue of $307.45 million for the quarter, compared to analysts’ expectations of $308.64 million. Verisign had a net margin of 47.94% and a negative return on equity of 42.50%. The firm’s quarterly revenue was up 4.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.96 earnings per share. Equities analysts predict that Verisign, Inc. will post 4.75 EPS for the current fiscal year.
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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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