First Republic Investment Management Inc. Buys New Holdings in Verisign, Inc. (VRSN)

First Republic Investment Management Inc. bought a new stake in Verisign, Inc. (NASDAQ:VRSN) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 2,264 shares of the information services provider’s stock, valued at approximately $240,000.

Several other large investors have also made changes to their positions in the company. Suntrust Banks Inc. raised its holdings in shares of Verisign by 0.5% in the second quarter. Suntrust Banks Inc. now owns 10,455 shares of the information services provider’s stock valued at $971,000 after buying an additional 54 shares during the last quarter. Scotia Capital Inc. raised its holdings in Verisign by 0.6% during the second quarter. Scotia Capital Inc. now owns 12,000 shares of the information services provider’s stock worth $1,115,000 after purchasing an additional 75 shares in the last quarter. Thrivent Financial For Lutherans raised its holdings in Verisign by 2.5% during the second quarter. Thrivent Financial For Lutherans now owns 3,340 shares of the information services provider’s stock worth $310,000 after purchasing an additional 80 shares in the last quarter. Conning Inc. raised its holdings in Verisign by 3.1% during the second quarter. Conning Inc. now owns 2,674 shares of the information services provider’s stock worth $249,000 after purchasing an additional 80 shares in the last quarter. Finally, Global X Management Co. LLC raised its holdings in Verisign by 13.4% during the second quarter. Global X Management Co. LLC now owns 1,632 shares of the information services provider’s stock worth $152,000 after purchasing an additional 193 shares in the last quarter.

Verisign, Inc. (NASDAQ VRSN) opened at $116.10 on Tuesday. The stock has a market cap of $11,340.00, a PE ratio of 32.13 and a beta of 1.03. Verisign, Inc. has a 1-year low of $75.71 and a 1-year high of $118.28. 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 (NASDAQ:VRSN) last posted 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. The firm had revenue of $292.40 million during the quarter, compared to analysts’ expectations of $290.90 million. Verisign had a net margin of 39.79% and a negative return on equity of 36.88%. The firm’s revenue for the quarter was up 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $0.93 earnings per share. analysts predict that Verisign, Inc. will post 3.65 EPS for the current fiscal year.

VRSN has been the subject of several analyst reports. Robert W. Baird set a $105.00 price target on shares of Verisign and gave the stock a “hold” rating in a report on Friday, October 6th. BidaskClub raised shares of Verisign from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Zacks Investment Research cut shares of Verisign from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Cowen reissued a “hold” rating and set a $103.00 price target on shares of Verisign in a report on Sunday, October 29th. Finally, Citigroup increased their price target on shares of Verisign from $101.00 to $111.00 and gave the stock 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 given a strong buy rating to the company. Verisign currently has a consensus rating of “Hold” and a consensus price target 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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