Strategic Global Advisors LLC Takes Position in Verisign, Inc. (NASDAQ:VRSN)

Strategic Global Advisors LLC purchased a new stake in shares of Verisign, Inc. (NASDAQ:VRSN) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 2,641 shares of the information services provider’s stock, valued at approximately $552,000.

Several other hedge funds have also recently bought and sold shares of VRSN. Liberty Wealth Management LLC bought a new position in shares of Verisign during the second quarter valued at approximately $25,000. Cornerstone Advisors Inc. raised its position in shares of Verisign by 208.2% during the 1st quarter. Cornerstone Advisors Inc. now owns 151 shares of the information services provider’s stock worth $27,000 after purchasing an additional 102 shares during the period. AGF Investments LLC lifted its holdings in shares of Verisign by 102.9% in the 2nd quarter. AGF Investments LLC now owns 138 shares of the information services provider’s stock worth $29,000 after purchasing an additional 70 shares during the last quarter. Capital Investment Advisory Services LLC bought a new stake in shares of Verisign in the 2nd quarter worth approximately $29,000. Finally, Advisory Services Network LLC boosted its position in Verisign by 98.9% during the 2nd quarter. Advisory Services Network LLC now owns 181 shares of the information services provider’s stock valued at $38,000 after purchasing an additional 90 shares during the period. 91.49% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts recently commented on the company. ValuEngine downgraded Verisign from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird raised their target price on Verisign from $210.00 to $240.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Two investment analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Verisign currently has a consensus rating of “Buy” and a consensus target price of $204.75.

NASDAQ:VRSN traded down $5.72 during mid-day trading on Wednesday, hitting $190.99. The stock had a trading volume of 52,287 shares, compared to its average volume of 445,913. The company has a 50 day simple moving average of $207.07 and a 200-day simple moving average of $198.33. The stock has a market capitalization of $23.28 billion, a price-to-earnings ratio of 40.29 and a beta of 1.08. Verisign, Inc. has a 52 week low of $131.28 and a 52 week high of $221.78.

Verisign (NASDAQ:VRSN) last posted its earnings results on Thursday, July 25th. The information services provider reported $1.24 EPS for the quarter, topping the consensus estimate of $1.18 by $0.06. Verisign had a net margin of 51.38% and a negative return on equity of 43.63%. The firm had revenue of $306.29 million during the quarter, compared to analysts’ expectations of $306.57 million. During the same quarter in the prior year, the firm earned $1.18 EPS. Verisign’s quarterly revenue was up 1.3% on a year-over-year basis. Equities research analysts anticipate that Verisign, Inc. will post 4.98 EPS for the current year.

In other news, Director Timothy Tomlinson sold 575 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $213.50, for a total transaction of $122,762.50. Following the completion of the transaction, the director now directly owns 34,251 shares in the company, valued at $7,312,588.50. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 1.20% of the company’s stock.

About Verisign

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

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Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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