First Citizens Bank & Trust Co. decreased its position in shares of Verisign, Inc. (NASDAQ:VRSN) by 10.1% during the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,968 shares of the information services provider’s stock after selling 1,002 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Verisign were worth $1,692,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Nuveen Asset Management LLC grew its holdings in Verisign by 10,503.4% during the 2nd quarter. Nuveen Asset Management LLC now owns 807,026 shares of the information services provider’s stock valued at $168,798,000 after purchasing an additional 799,415 shares during the last quarter. AQR Capital Management LLC boosted its position in Verisign by 56.4% in the 2nd quarter. AQR Capital Management LLC now owns 1,406,387 shares of the information services provider’s stock valued at $290,194,000 after buying an additional 506,936 shares during the period. Renaissance Technologies LLC boosted its position in Verisign by 4.9% in the 2nd quarter. Renaissance Technologies LLC now owns 7,688,276 shares of the information services provider’s stock valued at $1,608,080,000 after buying an additional 357,400 shares during the period. Wells Fargo & Company MN boosted its position in Verisign by 163.6% in the 2nd quarter. Wells Fargo & Company MN now owns 573,625 shares of the information services provider’s stock valued at $119,980,000 after buying an additional 356,010 shares during the period. Finally, BlackRock Inc. boosted its position in Verisign by 2.2% in the 2nd quarter. BlackRock Inc. now owns 9,860,382 shares of the information services provider’s stock valued at $2,062,398,000 after buying an additional 214,629 shares during the period. Institutional investors own 92.44% of the company’s stock.
Several equities research analysts have recently weighed in on the stock. ValuEngine cut shares of Verisign from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Zacks Investment Research raised shares of Verisign from a “hold” rating to a “buy” rating and set a $201.00 price target for the company in a research report on Sunday, November 3rd. BidaskClub cut shares of Verisign from a “buy” rating to a “hold” rating in a research report on Tuesday, November 5th. Finally, Robert W. Baird upped their price target on shares of Verisign from $210.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $212.00.
In other news, Director Timothy Tomlinson sold 295 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $190.57, for a total transaction of $56,218.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.20% of the company’s stock.
Verisign stock traded down $2.10 during mid-day trading on Friday, reaching $183.79. 599,400 shares of the company traded hands, compared to its average volume of 602,245. The company has a market capitalization of $21.90 billion, a price-to-earnings ratio of 38.69 and a beta of 1.04. The firm’s fifty day moving average is $186.78 and its two-hundred day moving average is $199.57. Verisign, Inc. has a fifty-two week low of $138.77 and a fifty-two week high of $221.78.
Verisign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, October 24th. The information services provider reported $1.36 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.31 by $0.05. Verisign had a net margin of 52.60% and a negative return on equity of 44.38%. The business had revenue of $308.42 million for the quarter, compared to analysts’ expectations of $308.34 million. During the same period in the prior year, the company posted $1.23 EPS. The business’s revenue for the quarter was up .9% on a year-over-year basis. Research analysts anticipate that Verisign, Inc. will post 5.12 EPS for the current year.
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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