Hartford Investment Management Co. raised its holdings in Verisign, Inc. (NASDAQ:VRSN) by 8.5% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 26,554 shares of the information services provider’s stock after purchasing an additional 2,069 shares during the quarter. Hartford Investment Management Co.’s holdings in Verisign were worth $4,821,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently modified their holdings of VRSN. Vanguard Group Inc lifted its holdings in Verisign by 4.5% during the 3rd quarter. Vanguard Group Inc now owns 11,368,270 shares of the information services provider’s stock worth $1,820,286,000 after buying an additional 485,685 shares during the last quarter. BlackRock Inc. lifted its holdings in Verisign by 2.5% during the 4th quarter. BlackRock Inc. now owns 8,848,684 shares of the information services provider’s stock worth $1,312,172,000 after buying an additional 215,361 shares during the last quarter. Oregon Public Employees Retirement Fund lifted its holdings in Verisign by 41,120.7% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,763,452 shares of the information services provider’s stock worth $25,000 after buying an additional 3,754,322 shares during the last quarter. Investec Asset Management LTD lifted its holdings in shares of Verisign by 1.6% in the 1st quarter. Investec Asset Management LTD now owns 2,631,523 shares of the information services provider’s stock valued at $477,779,000 after purchasing an additional 40,572 shares during the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Verisign by 7.6% in the 4th quarter. First Trust Advisors LP now owns 1,961,762 shares of the information services provider’s stock valued at $290,910,000 after purchasing an additional 138,858 shares during the last quarter. 94.40% of the stock is owned by institutional investors and hedge funds.
In other Verisign news, Director Timothy Tomlinson sold 378 shares of the stock in a transaction on Monday, April 29th. The stock was sold at an average price of $199.55, for a total transaction of $75,429.90. Following the sale, the director now owns 34,094 shares in the company, valued at approximately $6,803,457.70. The sale was disclosed in a legal filing with the SEC, which is available through this link. 1.20% of the stock is currently owned by corporate insiders.
VRSN has been the subject of several research reports. ValuEngine raised Verisign from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 12th. BidaskClub raised Verisign from a “buy” rating to a “strong-buy” rating in a report on Friday, March 22nd. Zacks Investment Research downgraded Verisign from a “buy” rating to a “hold” rating in a report on Monday, February 11th. Finally, Citigroup reaffirmed a “neutral” rating and set a $195.00 price objective (up from $175.00) on shares of Verisign in a research note on Tuesday, March 5th. Three research analysts have rated the stock with a hold rating, two have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $180.80.
NASDAQ VRSN traded up $2.13 on Wednesday, hitting $197.69. 266,040 shares of the company’s stock were exchanged, compared to its average volume of 601,596. Verisign, Inc. has a fifty-two week low of $126.52 and a fifty-two week high of $203.28. The stock has a market capitalization of $23.56 billion, a price-to-earnings ratio of 41.62 and a beta of 1.08.
Verisign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.31 earnings per share for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. The business had revenue of $306.41 million for the quarter, compared to analysts’ expectations of $302.63 million. Verisign had a negative return on equity of 43.07% and a net margin of 49.98%. The company’s revenue was up 2.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.07 EPS. As a group, research analysts predict that Verisign, Inc. will post 4.96 earnings per share for the current year.
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Verisign Company Profile
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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