Aviva PLC Reduces Stake in VeriSign, Inc. (VRSN)
Aviva PLC decreased its position in VeriSign, Inc. (NASDAQ:VRSN) by 3.0% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 62,107 shares of the information services provider’s stock after selling 1,910 shares during the period. Aviva PLC owned about 0.06% of VeriSign worth $5,775,000 at the end of the most recent reporting period.
Several other hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. boosted its stake in VeriSign by 1,765.9% in the first quarter. BlackRock Inc. now owns 7,706,691 shares of the information services provider’s stock worth $671,330,000 after buying an additional 7,293,666 shares in the last quarter. Eqis Capital Management Inc. bought a new stake in VeriSign during the second quarter worth approximately $350,000. SG Americas Securities LLC boosted its stake in VeriSign by 37.0% in the first quarter. SG Americas Securities LLC now owns 27,559 shares of the information services provider’s stock worth $2,401,000 after buying an additional 7,443 shares in the last quarter. Virtu Financial LLC bought a new stake in VeriSign during the second quarter worth approximately $211,000. Finally, Vanguard Group Inc. boosted its stake in VeriSign by 0.7% in the first quarter. Vanguard Group Inc. now owns 8,489,961 shares of the information services provider’s stock worth $739,561,000 after buying an additional 58,352 shares in the last quarter.
VeriSign, Inc. (NASDAQ VRSN) opened at 103.75 on Friday. The firm has a market capitalization of $10.37 billion, a price-to-earnings ratio of 28.28 and a beta of 1.20. VeriSign, Inc. has a 52-week low of $74.46 and a 52-week high of $103.91. The company’s 50-day moving average is $99.81 and its 200-day moving average is $91.66.
VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, July 27th. The information services provider reported $1.05 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.99 by $0.06. VeriSign had a net margin of 39.92% and a negative return on equity of 36.99%. The firm had revenue of $289 million during the quarter, compared to the consensus estimate of $287.47 million. During the same period last year, the firm posted $0.91 EPS. The firm’s revenue for the quarter was up .9% on a year-over-year basis. Equities analysts predict that VeriSign, Inc. will post $3.97 earnings per share for the current year.
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VRSN has been the subject of a number of research reports. Zacks Investment Research raised shares of VeriSign from a “hold” rating to a “buy” rating and set a $101.00 target price for the company in a research note on Tuesday, May 30th. BidaskClub raised shares of VeriSign from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Finally, Cowen and Company reissued a “market perform” rating and set a $94.00 target price on shares of VeriSign in a research note on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a strong buy rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $87.75.
In other VeriSign news, Director Timothy Tomlinson sold 1,240 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The shares were sold at an average price of $101.00, for a total transaction of $125,240.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Kathleen A. Cote sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $99.94, for a total transaction of $149,910.00. Following the transaction, the director now owns 38,294 shares of the company’s stock, valued at $3,827,102.36. The disclosure for this sale can be found here. Company insiders own 0.92% of the company’s stock.
VeriSign, Inc is a provider of domain name registry services and Internet security. The Company operates through Registry Services and Security Services segment. Registry Services ensure the security, stability and resiliency of Internet infrastructure and services, including the .com and .net domains, and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS).
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