Schwab Charles Investment Management Inc. Reduces Stake in VeriSign, Inc. (VRSN)

Schwab Charles Investment Management Inc. lowered its stake in VeriSign, Inc. (NASDAQ:VRSN) by 3.6% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 555,315 shares of the information services provider’s stock after selling 21,032 shares during the quarter. Schwab Charles Investment Management Inc. owned approximately 0.56% of VeriSign worth $59,080,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Grove Bank & Trust raised its holdings in VeriSign by 186.5% in the 3rd quarter. Grove Bank & Trust now owns 1,060 shares of the information services provider’s stock valued at $113,000 after buying an additional 690 shares during the last quarter. Fort L.P. raised its holdings in VeriSign by 5.7% in the 3rd quarter. Fort L.P. now owns 54,573 shares of the information services provider’s stock valued at $5,806,000 after buying an additional 2,926 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new position in VeriSign in the 3rd quarter valued at approximately $238,000. Schroder Investment Management Group raised its holdings in VeriSign by 8.0% in the 3rd quarter. Schroder Investment Management Group now owns 729,747 shares of the information services provider’s stock valued at $77,076,000 after buying an additional 54,001 shares during the last quarter. Finally, Achmea Investment Management B.V. bought a new position in VeriSign in the 3rd quarter valued at approximately $247,000.

VeriSign, Inc. (NASDAQ VRSN) opened at $112.56 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of -1.45. VeriSign, Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $118.28. The stock has a market cap of $11,331.62, a P/E ratio of 32.11 and a beta of 1.03.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, October 26th. The information services provider reported $1.00 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.97 by $0.03. VeriSign had a net margin of 39.79% and a negative return on equity of 36.88%. The firm had revenue of $292.40 million during the quarter, compared to analyst estimates of $290.90 million. During the same quarter last year, the business earned $0.93 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. sell-side analysts forecast that VeriSign, Inc. will post 3.65 earnings per share for the current year.

A number of research analysts recently issued reports on the stock. Robert W. Baird set a $105.00 price objective on shares of VeriSign and gave the company a “hold” rating in a report on Friday, October 6th. Cowen reiterated a “hold” rating and issued a $103.00 price objective on shares of VeriSign in a report on Sunday, October 29th. BidaskClub upgraded shares of VeriSign from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Zacks Investment Research lowered shares of VeriSign from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Finally, Citigroup raised their price objective on shares of VeriSign from $101.00 to $111.00 and gave the company a “neutral” rating in a report on Friday, October 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. VeriSign currently has a consensus rating of “Hold” and a consensus target price of $106.33.

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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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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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