Victory Capital Management Inc. raised its position in shares of Verisign, Inc. (NASDAQ:VRSN) by 11.6% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,533 shares of the information services provider’s stock after purchasing an additional 3,180 shares during the quarter. Victory Capital Management Inc.’s holdings in Verisign were worth $3,494,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently bought and sold shares of VRSN. APG Asset Management N.V. grew its stake in Verisign by 76.3% during the 4th quarter. APG Asset Management N.V. now owns 2,054,186 shares of the information services provider’s stock valued at $195,770,000 after purchasing an additional 888,710 shares during the last quarter. Bank of Montreal Can grew its stake in Verisign by 187.6% during the 4th quarter. Bank of Montreal Can now owns 653,586 shares of the information services provider’s stock valued at $74,797,000 after purchasing an additional 426,334 shares during the last quarter. Principal Financial Group Inc. grew its stake in Verisign by 5.7% during the 3rd quarter. Principal Financial Group Inc. now owns 3,457,625 shares of the information services provider’s stock valued at $367,857,000 after purchasing an additional 187,012 shares during the last quarter. PGGM Investments purchased a new stake in Verisign during the 4th quarter valued at about $19,821,000. Finally, Teacher Retirement System of Texas lifted its holdings in shares of Verisign by 238.4% in the 3rd quarter. Teacher Retirement System of Texas now owns 204,185 shares of the information services provider’s stock valued at $21,723,000 after buying an additional 143,853 shares during the period.
Several equities analysts have recently issued reports on VRSN shares. Citigroup boosted their price objective on Verisign from $101.00 to $111.00 and gave the company a “neutral” rating in a report on Friday, October 27th. Cowen reissued a “hold” rating and issued a $103.00 price objective on shares of Verisign in a report on Sunday, October 29th. BidaskClub raised Verisign from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. Finally, Zacks Investment Research raised Verisign from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. Four analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $106.33.
Verisign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, February 8th. The information services provider reported $0.96 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.01). The company had revenue of $295.50 million during the quarter, compared to analyst estimates of $294.93 million. Verisign had a net margin of 39.25% and a negative return on equity of 36.88%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same period last year, the firm earned $0.92 EPS. sell-side analysts expect that Verisign, Inc. will post 4.02 earnings per share for the current year.
Verisign declared that its Board of Directors has initiated a stock buyback plan on Thursday, February 8th that authorizes the company to repurchase $586.00 million in shares. This repurchase authorization authorizes the information services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often an indication that the company’s leadership believes its stock is undervalued.
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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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