Neuberger Berman Group LLC Grows Position in VeriSign, Inc. (VRSN)
Neuberger Berman Group LLC increased its stake in VeriSign, Inc. (NASDAQ:VRSN) by 6.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,385 shares of the information services provider’s stock after buying an additional 619 shares during the period. Neuberger Berman Group LLC’s holdings in VeriSign were worth $965,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in the stock. Fjarde AP Fonden Fourth Swedish National Pension Fund raised its stake in VeriSign by 9.3% in the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 21,141 shares of the information services provider’s stock worth $1,965,000 after buying an additional 1,804 shares in the last quarter. Andra AP fonden raised its stake in VeriSign by 71.0% in the second quarter. Andra AP fonden now owns 22,400 shares of the information services provider’s stock worth $2,082,000 after buying an additional 9,300 shares in the last quarter. Victory Capital Management Inc. raised its stake in VeriSign by 18.4% in the second quarter. Victory Capital Management Inc. now owns 18,665 shares of the information services provider’s stock worth $1,735,000 after buying an additional 2,905 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in VeriSign by 1.7% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 290,142 shares of the information services provider’s stock worth $26,972,000 after buying an additional 4,948 shares in the last quarter. Finally, Virginia Retirement Systems ET AL bought a new position in VeriSign in the second quarter worth about $7,409,000.
VeriSign, Inc. (NASDAQ:VRSN) opened at 105.08 on Tuesday. The company has a market cap of $10.50 billion, a P/E ratio of 28.64 and a beta of 1.18. VeriSign, Inc. has a 52 week low of $74.46 and a 52 week high of $105.30. The firm’s 50 day moving average is $101.13 and its 200-day moving average is $93.46.
VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, July 27th. The information services provider reported $1.05 earnings per share for the quarter, topping the 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 $289.00 million during the quarter, compared to analysts’ expectations of $287.47 million. During the same quarter in the prior year, the company earned $0.91 EPS. The company’s revenue was up .9% compared to the same quarter last year. On average, analysts predict that VeriSign, Inc. will post $3.97 earnings per share for the current fiscal year.
A number of equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of VeriSign from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BidaskClub downgraded shares of VeriSign from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Robert W. Baird reissued a “hold” rating and issued a $105.00 price target on shares of VeriSign in a research note on Thursday, August 31st. Finally, Cowen and Company reissued a “market perform” rating and issued a $94.00 price target on shares of VeriSign in a research note on Monday, July 3rd. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company’s stock. VeriSign has an average rating of “Hold” and a consensus price target of $92.75.
In other news, Director Kathleen A. Cote sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $99.94, for a total value of $149,910.00. Following the completion of the sale, the director now owns 38,294 shares of the company’s stock, valued at approximately $3,827,102.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Timothy Tomlinson sold 1,240 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $101.00, for a total transaction of $125,240.00. The disclosure for this sale can be found here. 0.92% of the stock is currently owned by corporate insiders.
VeriSign Company Profile
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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