Charter Trust Co. grew its position in shares of Verisign, Inc. (NASDAQ:VRSN) by 26.3% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,072 shares of the information services provider’s stock after acquiring an additional 640 shares during the quarter. Charter Trust Co.’s holdings in Verisign were worth $492,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in VRSN. Braun Bostich & Associates Inc. boosted its position in Verisign by 1,283.3% during the 2nd quarter. Braun Bostich & Associates Inc. now owns 913 shares of the information services provider’s stock worth $125,000 after acquiring an additional 847 shares during the last quarter. Sandy Spring Bank boosted its position in Verisign by 100.0% during the 2nd quarter. Sandy Spring Bank now owns 1,000 shares of the information services provider’s stock worth $137,000 after acquiring an additional 500 shares during the last quarter. Piedmont Investment Advisors LLC acquired a new position in Verisign during the 2nd quarter worth approximately $149,000. Advisory Services Network LLC boosted its position in Verisign by 954.9% during the 3rd quarter. Advisory Services Network LLC now owns 960 shares of the information services provider’s stock worth $154,000 after acquiring an additional 869 shares during the last quarter. Finally, Cerebellum GP LLC acquired a new position in Verisign during the 3rd quarter worth approximately $181,000. 92.19% of the stock is owned by hedge funds and other institutional investors.
VRSN has been the subject of a number of recent research reports. Zacks Investment Research reaffirmed a “hold” rating on shares of Verisign in a research report on Saturday, November 17th. Robert W. Baird raised Verisign from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $160.00 to $170.00 in a research report on Friday, November 2nd. BidaskClub downgraded Verisign from a “hold” rating to a “sell” rating in a research report on Friday, November 16th. JPMorgan Chase & Co. upped their price target on Verisign from $123.00 to $125.00 and gave the stock an “average” rating in a research report on Monday, September 24th. Finally, Citigroup upped their price target on Verisign from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, November 2nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Verisign currently has an average rating of “Hold” and a consensus target price of $154.40.
Verisign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, October 25th. The information services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.10 by $0.13. The company had revenue of $305.78 million during the quarter, compared to the consensus estimate of $305.25 million. Verisign had a negative return on equity of 38.09% and a net margin of 41.82%. Analysts forecast that Verisign, Inc. will post 4.37 earnings per share for the current year.
In other news, Director Kathleen A. Cote sold 2,384 shares of the stock in a transaction that occurred on Monday, November 5th. The stock was sold at an average price of $160.50, for a total value of $382,632.00. Following the completion of the sale, the director now owns 37,594 shares of the company’s stock, valued at approximately $6,033,837. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.92% of the company’s stock.
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VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.
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