Denali Advisors LLC boosted its position in shares of Verisign, Inc. (NASDAQ:VRSN) by 54.5% in the third quarter, Holdings Channel reports. The fund owned 64,900 shares of the information services provider’s stock after acquiring an additional 22,900 shares during the period. Denali Advisors LLC’s holdings in Verisign were worth $10,392,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors have also recently added to or reduced their stakes in the company. Braun Bostich & Associates Inc. lifted its position in Verisign by 1,283.3% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 913 shares of the information services provider’s stock worth $125,000 after acquiring an additional 847 shares during the last quarter. Sandy Spring Bank lifted its position in Verisign by 100.0% during the 2nd quarter. Sandy Spring Bank now owns 1,000 shares of the information services provider’s stock worth $137,000 after acquiring an additional 500 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in Verisign during the 2nd quarter worth $149,000. Stillwater Investment Management LLC acquired a new position in Verisign during the 3rd quarter worth $208,000. Finally, Rampart Investment Management Company LLC acquired a new position in Verisign during the 1st quarter worth $161,000. 93.30% of the stock is owned by hedge funds and other institutional investors.
A number of research firms have weighed in on VRSN. BidaskClub lowered shares of Verisign from a “strong-buy” rating to a “buy” rating in a research report on Tuesday. JPMorgan Chase & Co. boosted their target price on shares of Verisign from $123.00 to $125.00 and gave the stock an “average” rating in a research report on Monday, September 24th. Robert W. Baird reissued a “hold” rating and set a $160.00 target price on shares of Verisign in a research report on Friday, July 27th. Finally, Cowen reissued a “hold” rating and set a $155.00 target price on shares of Verisign in a research report on Friday, July 27th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. Verisign has an average rating of “Hold” and a consensus price target of $139.00.
Verisign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, July 26th. The information services provider reported $1.18 EPS for the quarter, beating the Zacks’ consensus estimate of $1.14 by $0.04. The business had revenue of $302.40 million during the quarter, compared to analyst estimates of $302.47 million. Verisign had a net margin of 40.38% and a negative return on equity of 37.20%. The firm’s revenue for the quarter was up 4.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.05 earnings per share. Equities analysts predict that Verisign, Inc. will post 4.31 EPS for the current year.
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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