Tiemann Investment Advisors LLC lessened its position in shares of Verisign, Inc. (NASDAQ:VRSN) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,420 shares of the information services provider’s stock after selling 70 shares during the period. Tiemann Investment Advisors LLC’s holdings in Verisign were worth $258,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Stifel Financial Corp increased its stake in Verisign by 31.9% in the 4th quarter. Stifel Financial Corp now owns 81,624 shares of the information services provider’s stock worth $12,107,000 after acquiring an additional 19,737 shares during the last quarter. Nomura Asset Management Co. Ltd. increased its stake in Verisign by 16.1% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 19,398 shares of the information services provider’s stock worth $2,876,000 after acquiring an additional 2,685 shares during the last quarter. Close Asset Management Ltd increased its stake in Verisign by 14,555.3% in the 1st quarter. Close Asset Management Ltd now owns 16,707 shares of the information services provider’s stock worth $3,034,000 after acquiring an additional 16,593 shares during the last quarter. TD Asset Management Inc. increased its stake in Verisign by 0.8% in the 1st quarter. TD Asset Management Inc. now owns 76,511 shares of the information services provider’s stock worth $13,891,000 after acquiring an additional 637 shares during the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in Verisign by 0.4% in the 1st quarter. State Board of Administration of Florida Retirement System now owns 144,400 shares of the information services provider’s stock worth $26,217,000 after acquiring an additional 590 shares during the last quarter. 91.65% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director Timothy Tomlinson sold 378 shares of the company’s stock in a transaction dated Monday, April 29th. The stock was sold at an average price of $199.55, for a total value of $75,429.90. Following the completion of the transaction, the director now directly owns 34,094 shares in the company, valued at approximately $6,803,457.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.20% of the stock is currently owned by corporate insiders.
Verisign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.31 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.25 by $0.06. Verisign had a negative return on equity of 43.07% and a net margin of 49.98%. The firm had revenue of $306.41 million during the quarter, compared to analysts’ expectations of $302.63 million. During the same period in the prior year, the business earned $1.07 EPS. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. Research analysts expect that Verisign, Inc. will post 4.96 EPS for the current fiscal year.
A number of equities analysts have weighed in on the company. Zacks Investment Research upgraded Verisign from a “hold” rating to a “buy” rating and set a $224.00 target price on the stock in a research note on Tuesday, April 30th. BidaskClub upgraded Verisign from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Finally, Citigroup restated a “neutral” rating and issued a $195.00 target price (up from $175.00) on shares of Verisign in a research note on Tuesday, March 5th. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the stock. Verisign presently has a consensus rating of “Buy” and a consensus target price of $180.80.
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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.
Further Reading: Return On Assets
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