Verisign, Inc. (VRSN) Shares Bought by Geode Capital Management LLC
Geode Capital Management LLC raised its position in Verisign, Inc. (NASDAQ:VRSN) by 6.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 969,593 shares of the information services provider’s stock after buying an additional 56,723 shares during the period. Geode Capital Management LLC’s holdings in Verisign were worth $110,726,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of VRSN. DekaBank Deutsche Girozentrale boosted its holdings in shares of Verisign by 18.9% during the 3rd quarter. DekaBank Deutsche Girozentrale now owns 49,940 shares of the information services provider’s stock worth $5,001,000 after purchasing an additional 7,948 shares during the last quarter. Gruss Capital Management LP boosted its holdings in shares of Verisign by 10.2% during the 3rd quarter. Gruss Capital Management LP now owns 920,000 shares of the information services provider’s stock worth $97,879,000 after purchasing an additional 85,000 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of Verisign by 112.1% during the 3rd quarter. Janus Henderson Group PLC now owns 52,997 shares of the information services provider’s stock worth $5,638,000 after purchasing an additional 28,008 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in shares of Verisign by 18.1% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,065 shares of the information services provider’s stock worth $5,220,000 after purchasing an additional 7,522 shares during the last quarter. Finally, Vident Investment Advisory LLC acquired a new position in shares of Verisign during the 3rd quarter worth approximately $417,000.
VRSN has been the topic of several recent research reports. ValuEngine upgraded Verisign from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Zacks Investment Research upgraded Verisign from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. JPMorgan Chase & Co. boosted their target price on Verisign to $106.00 and gave the stock an “underweight” rating in a report on Monday, February 26th. Finally, BidaskClub upgraded Verisign from a “hold” rating to a “buy” rating in a report on Saturday, February 10th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $106.25.
Verisign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, February 8th. The information services provider reported $0.96 EPS for the quarter, missing analysts’ consensus estimates of $0.97 by ($0.01). Verisign had a net margin of 39.25% and a negative return on equity of 36.88%. The business had revenue of $295.50 million during the quarter, compared to analyst estimates of $294.93 million. During the same quarter in the prior year, the company posted $0.92 earnings per share. The company’s revenue was up 3.2% on a year-over-year basis. equities analysts anticipate that Verisign, Inc. will post 4.19 EPS for the current fiscal year.
Verisign declared that its board has approved a share repurchase plan on Thursday, February 8th that allows the company to repurchase $586.00 million in outstanding shares. This repurchase authorization allows the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board believes its stock is undervalued.
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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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