Panagora Asset Management Inc. cut its holdings in shares of Verisign, Inc. (NASDAQ:VRSN) by 18.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,531 shares of the information services provider’s stock after selling 1,733 shares during the quarter. Panagora Asset Management Inc.’s holdings in Verisign were worth $1,575,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of VRSN. Cornerstone Advisors Inc. increased its holdings in shares of Verisign by 35.8% during the 2nd quarter. Cornerstone Advisors Inc. now owns 205 shares of the information services provider’s stock worth $43,000 after purchasing an additional 54 shares during the period. First Republic Investment Management Inc. grew its position in Verisign by 3.4% during the first quarter. First Republic Investment Management Inc. now owns 1,737 shares of the information services provider’s stock worth $315,000 after buying an additional 57 shares in the last quarter. Fisher Asset Management LLC increased its stake in Verisign by 2.3% during the second quarter. Fisher Asset Management LLC now owns 2,587 shares of the information services provider’s stock valued at $541,000 after acquiring an additional 57 shares during the period. Magnus Financial Group LLC increased its stake in Verisign by 3.8% during the second quarter. Magnus Financial Group LLC now owns 1,782 shares of the information services provider’s stock valued at $373,000 after acquiring an additional 66 shares during the period. Finally, AGF Investments LLC increased its stake in Verisign by 102.9% during the second quarter. AGF Investments LLC now owns 138 shares of the information services provider’s stock valued at $29,000 after acquiring an additional 70 shares during the period. Institutional investors own 91.49% of the company’s stock.

Shares of NASDAQ:VRSN traded down $3.45 during midday trading on Wednesday, reaching $193.26. 191,016 shares of the company’s stock were exchanged, compared to its average volume of 445,913. The company’s 50 day simple moving average is $207.07 and its two-hundred day simple moving average is $198.33. The firm has a market capitalization of $23.28 billion, a PE ratio of 40.69 and a beta of 1.08. Verisign, Inc. has a 12 month low of $131.28 and a 12 month high of $221.78.

Verisign (NASDAQ:VRSN) last posted its earnings results on Thursday, July 25th. The information services provider reported $1.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.18 by $0.06. Verisign had a net margin of 51.38% and a negative return on equity of 43.63%. The business had revenue of $306.29 million for the quarter, compared to analysts’ expectations of $306.57 million. During the same quarter in the previous year, the firm posted $1.18 earnings per share. The firm’s revenue for the quarter was up 1.3% on a year-over-year basis. As a group, equities research analysts expect that Verisign, Inc. will post 4.98 EPS for the current year.

In other Verisign news, Director Timothy Tomlinson sold 575 shares of Verisign stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $213.50, for a total transaction of $122,762.50. Following the sale, the director now directly owns 34,251 shares of the company’s stock, valued at $7,312,588.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.20% of the stock is owned by company insiders.

A number of brokerages have commented on VRSN. Robert W. Baird raised their price objective on Verisign from $210.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. ValuEngine cut Verisign from a “strong-buy” rating to a “buy” rating in a research report on Thursday, August 1st. Two research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Verisign currently has an average rating of “Buy” and an average price target of $204.75.

Verisign Profile

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

Featured Story: Institutional Investors

Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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