AMP Capital Investors Ltd lifted its position in shares of Verisign, Inc. (NASDAQ:VRSN) by 2.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 101,370 shares of the information services provider’s stock after purchasing an additional 2,738 shares during the period. AMP Capital Investors Ltd owned 0.08% of Verisign worth $16,132,000 as of its most recent filing with the Securities and Exchange Commission.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Braun Bostich & Associates Inc. grew its position in Verisign by 1,283.3% during the second quarter. Braun Bostich & Associates Inc. now owns 913 shares of the information services provider’s stock worth $125,000 after buying an additional 847 shares in the last quarter. Sandy Spring Bank grew its position in Verisign by 100.0% during the second quarter. Sandy Spring Bank now owns 1,000 shares of the information services provider’s stock worth $137,000 after buying an additional 500 shares in the last quarter. Piedmont Investment Advisors LLC acquired a new stake in Verisign during the second quarter worth approximately $149,000. Advisory Services Network LLC grew its position in Verisign by 954.9% during the third quarter. Advisory Services Network LLC now owns 960 shares of the information services provider’s stock worth $154,000 after buying an additional 869 shares in the last quarter. Finally, Cerebellum GP LLC acquired a new stake in Verisign during the third quarter worth approximately $181,000. Institutional investors own 94.50% of the company’s stock.
A number of equities research analysts recently issued reports on the company. JPMorgan Chase & Co. raised Verisign from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $125.00 to $160.00 in a research report on Friday, November 2nd. Citigroup increased their price target on Verisign from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, November 2nd. BidaskClub downgraded Verisign from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, October 9th. Robert W. Baird raised Verisign from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $160.00 to $170.00 in a research report on Friday, November 2nd. Finally, Zacks Investment Research reissued a “hold” rating on shares of Verisign in a research report on Saturday, November 17th. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Verisign has a consensus rating of “Hold” and an average target price of $154.40.
Shares of VRSN stock opened at $156.06 on Monday. The firm has a market capitalization of $18.87 billion, a price-to-earnings ratio of 42.41 and a beta of 0.98. Verisign, Inc. has a fifty-two week low of $105.40 and a fifty-two week high of $176.76.
Verisign (NASDAQ:VRSN) last issued its earnings results on Thursday, October 25th. The information services provider reported $1.23 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.13. The firm had revenue of $305.78 million for the quarter, compared to the consensus estimate of $305.25 million. Verisign had a negative return on equity of 38.09% and a net margin of 41.82%. Equities research analysts expect that Verisign, Inc. will post 4.37 earnings per share for the current year.
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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.
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