KBC Group NV raised its position in shares of Verisign, Inc. (NASDAQ:VRSN) by 6.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,193 shares of the information services provider’s stock after purchasing an additional 812 shares during the period. KBC Group NV’s holdings in Verisign were worth $2,759,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Liberty Wealth Management LLC purchased a new stake in shares of Verisign during the 2nd quarter valued at $25,000. Cornerstone Advisors Inc. increased its holdings in Verisign by 208.2% in the 1st quarter. Cornerstone Advisors Inc. now owns 151 shares of the information services provider’s stock worth $27,000 after acquiring an additional 102 shares in the last quarter. Berman Capital Advisors LLC raised its stake in Verisign by 68.0% in the 1st quarter. Berman Capital Advisors LLC now owns 247 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 100 shares during the last quarter. Rational Advisors LLC grew its holdings in shares of Verisign by 233.9% in the first quarter. Rational Advisors LLC now owns 414 shares of the information services provider’s stock valued at $75,000 after purchasing an additional 290 shares during the period. Finally, Meridian Wealth Management LLC acquired a new stake in shares of Verisign during the 1st quarter worth about $127,000. Hedge funds and other institutional investors own 91.49% of the company’s stock.
Shares of NASDAQ VRSN traded down $4.49 during midday trading on Tuesday, hitting $197.39. 18,926 shares of the company’s stock were exchanged, compared to its average volume of 439,222. The stock’s 50 day moving average price is $207.44 and its 200-day moving average price is $198.22. The firm has a market cap of $24.57 billion, a P/E ratio of 41.56 and a beta of 1.08. Verisign, Inc. has a twelve month low of $131.28 and a twelve month high of $221.78.
Verisign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $1.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.18 by $0.06. Verisign had a negative return on equity of 43.63% and a net margin of 51.38%. The firm had revenue of $306.29 million during the quarter, compared to analysts’ expectations of $306.57 million. During the same quarter last year, the firm earned $1.18 earnings per share. The business’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities research analysts predict that Verisign, Inc. will post 4.98 earnings per share for the current fiscal year.
VRSN has been the subject of a number of research reports. ValuEngine cut Verisign from a “strong-buy” rating to a “buy” rating in a research note on Thursday, August 1st. Robert W. Baird lifted their price objective on Verisign from $210.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Two analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus target price of $204.75.
In other news, Director Timothy Tomlinson sold 575 shares of Verisign stock in a transaction dated 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 sale, the director now directly owns 34,251 shares in the company, valued at approximately $7,312,588.50. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.20% of the stock is owned by company insiders.
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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