Los Angeles Capital Management & Equity Research Inc. Has $4.11 Million Stake in VeriSign, Inc. (VRSN)
Los Angeles Capital Management & Equity Research Inc. reduced its position in VeriSign, Inc. (NASDAQ:VRSN) by 18.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 38,653 shares of the information services provider’s stock after selling 8,864 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in VeriSign were worth $4,112,000 as of its most recent SEC filing.
Several other institutional investors have also recently added to or reduced their stakes in the company. Toronto Dominion Bank increased its position in shares of VeriSign by 9.5% in the third quarter. Toronto Dominion Bank now owns 32,824 shares of the information services provider’s stock worth $3,492,000 after acquiring an additional 2,842 shares in the last quarter. Zweig DiMenna Associates LLC purchased a new position in shares of VeriSign in the third quarter worth approximately $489,000. Sei Investments Co. increased its position in shares of VeriSign by 95.5% in the third quarter. Sei Investments Co. now owns 21,905 shares of the information services provider’s stock worth $2,331,000 after acquiring an additional 10,699 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. increased its position in shares of VeriSign by 98.6% in the third quarter. Migdal Insurance & Financial Holdings Ltd. now owns 2,820 shares of the information services provider’s stock worth $297,000 after acquiring an additional 1,400 shares in the last quarter. Finally, Pitcairn Co. purchased a new position in shares of VeriSign in the third quarter worth approximately $585,000.
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Shares of VeriSign, Inc. (NASDAQ VRSN) opened at $115.59 on Tuesday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of -1.45. The company has a market cap of $11,210.00, a P/E ratio of 31.77 and a beta of 1.03. VeriSign, Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $115.49.
VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $1.00 EPS for the quarter, topping the consensus estimate of $0.97 by $0.03. The business had revenue of $292.40 million during the quarter, compared to analysts’ expectations of $290.90 million. VeriSign had a net margin of 39.79% and a negative return on equity of 36.88%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same period last year, the company posted $0.93 earnings per share. analysts anticipate that VeriSign, Inc. will post 3.65 EPS for the current year.
Several research analysts have recently weighed in on the stock. Robert W. Baird set a $105.00 target price on shares of VeriSign and gave the stock a “hold” rating in a research report on Friday, October 6th. Citigroup Inc. lifted their target price on shares of VeriSign from $101.00 to $111.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Cowen and Company reissued a “hold” rating and issued a $103.00 target price on shares of VeriSign in a research report on Sunday, October 29th. Zacks Investment Research downgraded shares of VeriSign from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Finally, BidaskClub raised shares of VeriSign from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $106.33.
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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