AMP Capital Investors Ltd Sells 1,890 Shares of Verisign, Inc. (VRSN)
AMP Capital Investors Ltd cut its stake in shares of Verisign, Inc. (NASDAQ:VRSN) by 4.1% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 44,568 shares of the information services provider’s stock after selling 1,890 shares during the period. AMP Capital Investors Ltd’s holdings in Verisign were worth $4,740,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Grove Bank & Trust raised its stake in Verisign by 186.5% in the third quarter. Grove Bank & Trust now owns 1,060 shares of the information services provider’s stock valued at $113,000 after buying an additional 690 shares during the period. Migdal Insurance & Financial Holdings Ltd. raised its stake in Verisign by 21.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,420 shares of the information services provider’s stock valued at $133,000 after buying an additional 255 shares during the period. Acrospire Investment Management LLC raised its stake in Verisign by 128.6% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the information services provider’s stock valued at $149,000 after buying an additional 900 shares during the period. Global X Management Co. LLC raised its stake in Verisign by 13.4% in the second quarter. Global X Management Co. LLC now owns 1,632 shares of the information services provider’s stock valued at $152,000 after buying an additional 193 shares during the period. Finally, Hikari Power Ltd bought a new stake in Verisign in the second quarter valued at approximately $207,000.
Several analysts have issued reports on VRSN shares. BidaskClub upgraded Verisign from a “buy” rating to a “strong-buy” rating in a research note on Saturday, August 26th. Robert W. Baird restated a “hold” rating and issued a $105.00 price objective on shares of Verisign in a research note on Thursday, August 31st. Citigroup upped their price objective on Verisign from $101.00 to $111.00 and gave the company a “neutral” rating in a research note on Friday, October 27th. Cowen restated a “hold” rating and issued a $103.00 price objective on shares of Verisign in a research note on Sunday, October 29th. Finally, Zacks Investment Research lowered Verisign from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus price target of $106.33.
Verisign (NASDAQ:VRSN) last announced its earnings results on Thursday, October 26th. The information services provider reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.03. The company had revenue of $292.40 million for the quarter, compared to analyst estimates of $290.90 million. Verisign had a negative return on equity of 36.88% and a net margin of 39.79%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. research analysts expect that Verisign, Inc. will post 3.65 EPS for the current year.
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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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