North Star Asset Management Inc. maintained its stake in VeriSign Inc. (NASDAQ:VRSN) during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 44,399 shares of the company’s stock at the end of the second quarter. North Star Asset Management Inc.’s holdings in VeriSign were worth $3,931,000 as of its most recent filing with the SEC.
Other hedge funds also recently added to or reduced their stakes in the company. Riverhead Capital Management LLC boosted its stake in VeriSign by 15.3% in the first quarter. Riverhead Capital Management LLC now owns 240,296 shares of the company’s stock valued at $21,276,000 after buying an additional 31,966 shares during the period. AXA boosted its position in shares of VeriSign by 496.3% in the first quarter. AXA now owns 319,000 shares of the company’s stock worth $28,244,000 after buying an additional 265,500 shares during the last quarter. Pictet Asset Management Ltd. boosted its position in shares of VeriSign by 2.7% in the first quarter. Pictet Asset Management Ltd. now owns 54,176 shares of the company’s stock worth $4,577,000 after buying an additional 1,400 shares during the last quarter. BB&T Securities LLC boosted its position in shares of VeriSign by 2.2% in the first quarter. BB&T Securities LLC now owns 4,508 shares of the company’s stock worth $399,000 after buying an additional 97 shares during the last quarter. Finally, ING Groep NV acquired a new position in shares of VeriSign during the first quarter worth about $478,000.
Shares of VeriSign Inc. (NASDAQ:VRSN) traded up 0.24% during trading on Monday, hitting $76.54. 224,998 shares of the stock were exchanged. VeriSign Inc. has a 52 week low of $70.26 and a 52 week high of $93.94. The stock has a market cap of $8.17 billion, a P/E ratio of 24.38 and a beta of 1.25. The firm’s 50 day moving average price is $76.72 and its 200-day moving average price is $83.31.
VeriSign (NASDAQ:VRSN) last issued its earnings results on Thursday, July 28th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. The company earned $286 million during the quarter, compared to analysts’ expectations of $284.34 million. VeriSign had a net margin of 37.47% and a negative return on equity of 37.96%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the company earned $0.74 EPS. On average, analysts predict that VeriSign Inc. will post $3.49 EPS for the current year.
A number of brokerages have issued reports on VRSN. Zacks Investment Research cut shares of VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Citigroup Inc. reaffirmed a “sell” rating and issued a $70.00 price objective on shares of VeriSign in a research note on Friday, September 23rd. JPMorgan Chase & Co. raised their price objective on shares of VeriSign from $84.00 to $88.00 and gave the company an “underweight” rating in a research note on Friday, July 29th. Finally, Cowen and Company reaffirmed a “market perform” rating and issued a $80.00 price objective on shares of VeriSign in a research note on Tuesday, September 6th.
In other news, Director Timothy Tomlinson sold 1,477 shares of the business’s stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $85.30, for a total value of $125,988.10. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.92% of the stock is currently owned by insiders.
VeriSign Company Profile
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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