Jefferies Group LLC Purchases New Holdings in Verisign, Inc. (VRSN)

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Jefferies Group LLC purchased a new stake in Verisign, Inc. (NASDAQ:VRSN) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 38,637 shares of the information services provider’s stock, valued at approximately $6,187,000.

Other large investors have also recently made changes to their positions in the company. CIBC Asset Management Inc lifted its holdings in shares of Verisign by 2.5% during the 2nd quarter. CIBC Asset Management Inc now owns 13,209 shares of the information services provider’s stock worth $1,815,000 after acquiring an additional 328 shares during the last quarter. Liberty Mutual Group Asset Management Inc. lifted its holdings in shares of Verisign by 12.1% during the 2nd quarter. Liberty Mutual Group Asset Management Inc. now owns 3,838 shares of the information services provider’s stock worth $527,000 after acquiring an additional 413 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Verisign by 1.1% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,820 shares of the information services provider’s stock worth $5,472,000 after acquiring an additional 429 shares during the last quarter. Brown Advisory Inc. lifted its holdings in shares of Verisign by 5.1% during the 2nd quarter. Brown Advisory Inc. now owns 9,723 shares of the information services provider’s stock worth $1,337,000 after acquiring an additional 473 shares during the last quarter. Finally, Sandy Spring Bank lifted its holdings in shares of 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. 92.19% of the stock is owned by hedge funds and other institutional investors.

VRSN has been the subject of a number of research analyst reports. JPMorgan Chase & Co. lifted their price objective on shares of Verisign from $123.00 to $125.00 and gave the stock an “average” rating in a report on Monday, September 24th. Robert W. Baird raised shares of Verisign from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $160.00 to $170.00 in a report on Friday, November 2nd. Citigroup lifted their price objective on shares of Verisign from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, November 2nd. BidaskClub raised shares of Verisign from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 30th. Finally, Zacks Investment Research reaffirmed a “hold” rating on shares of Verisign in a report on Saturday, November 17th. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $154.40.

In related news, Director Kathleen A. Cote sold 2,384 shares of Verisign stock in a transaction on Monday, November 5th. The shares were sold at an average price of $160.50, for a total value of $382,632.00. Following the transaction, the director now owns 37,594 shares in the company, valued at approximately $6,033,837. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.92% of the stock is owned by company insiders.

Shares of NASDAQ:VRSN opened at $153.95 on Friday. The firm has a market capitalization of $19.03 billion, a P/E ratio of 38.58 and a beta of 0.99. Verisign, Inc. has a 52 week low of $105.40 and a 52 week high of $176.76.

Verisign (NASDAQ:VRSN) last issued its earnings results on Thursday, October 25th. The information services provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. The company had revenue of $305.78 million for the quarter, compared to analysts’ expectations of $305.25 million. Verisign had a net margin of 41.82% and a negative return on equity of 38.09%. As a group, analysts forecast that Verisign, Inc. will post 4.37 earnings per share for the current year.

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Verisign Profile

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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Want to see what other hedge funds are holding VRSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verisign, Inc. (NASDAQ:VRSN).

Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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