Conning Inc. boosted its position in VeriSign Inc. (NASDAQ:VRSN) by 3.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,504 shares of the company’s stock after buying an additional 80 shares during the period. Conning Inc.’s holdings in VeriSign were worth $216,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the company. IFP Advisors Inc increased its position in shares of VeriSign by 21.2% in the first quarter. IFP Advisors Inc now owns 1,432 shares of the company’s stock worth $127,000 after buying an additional 250 shares in the last quarter. BlackRock Inc. increased its position in shares of VeriSign by 15.6% in the first quarter. BlackRock Inc. now owns 339,647 shares of the company’s stock worth $30,072,000 after buying an additional 45,789 shares in the last quarter. BlackRock Group LTD increased its position in shares of VeriSign by 10.7% in the first quarter. BlackRock Group LTD now owns 1,099,123 shares of the company’s stock worth $97,315,000 after buying an additional 106,023 shares in the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of VeriSign by 14.4% in the first quarter. BlackRock Institutional Trust Company N.A. now owns 3,133,620 shares of the company’s stock worth $277,451,000 after buying an additional 393,377 shares in the last quarter. Finally, BlackRock Japan Co. Ltd increased its position in shares of VeriSign by 37.6% in the first quarter. BlackRock Japan Co. Ltd now owns 189,138 shares of the company’s stock worth $16,746,000 after buying an additional 51,718 shares in the last quarter.
VeriSign Inc. (NASDAQ:VRSN) traded down 1.19% during trading on Friday, hitting $76.36. 578,333 shares of the stock traded hands. The company’s 50 day moving average price is $76.72 and its 200 day moving average price is $83.31. VeriSign Inc. has a 12 month low of $70.26 and a 12 month high of $93.94. The company has a market cap of $8.15 billion, a P/E ratio of 24.33 and a beta of 1.25.
VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, July 28th. The company reported $0.91 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.05. VeriSign had a negative return on equity of 37.96% and a net margin of 37.47%. The company earned $286 million during the quarter, compared to analysts’ expectations of $284.34 million. During the same period last year, the business posted $0.74 EPS. VeriSign’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts anticipate that VeriSign Inc. will post $3.49 EPS for the current fiscal year.
A number of equities analysts have commented on VRSN shares. Zacks Investment Research downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th. JPMorgan Chase & Co. boosted their target price on shares of VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a report on Friday, July 29th. Cowen and Company restated a “market perform” rating and set a $80.00 price objective on shares of VeriSign in a report on Tuesday, September 6th. Finally, Citigroup Inc. restated a “sell” rating and set a $70.00 price objective on shares of VeriSign in a report on Friday, September 23rd.
In related news, Director Timothy Tomlinson sold 1,477 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $85.30, for a total transaction of $125,988.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.92% of the company’s stock.
VeriSign, Inc is a provider of domain name registry services and Internet security, enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world (Registry Services). The Company operates in Registry Services and Security Services segment. Its product suite also includes Security Services consisting of Distributed Denial of Service (DDoS) Protection Services, Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services.
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