GAM Holding AG cut its holdings in Verisign, Inc. (NASDAQ:VRSN) by 13.5% in the third quarter, Holdings Channel reports. The institutional investor owned 6,945 shares of the information services provider’s stock after selling 1,080 shares during the quarter. GAM Holding AG’s holdings in Verisign were worth $1,112,000 as of its most recent SEC filing.
A number of other institutional investors have also added to or reduced their stakes in VRSN. Prudential Financial Inc. raised its stake in shares of Verisign by 400.1% in the third quarter. Prudential Financial Inc. now owns 536,626 shares of the information services provider’s stock worth $85,925,000 after purchasing an additional 429,322 shares during the last quarter. Glenmede Trust Co. NA purchased a new position in shares of Verisign in the second quarter worth about $24,397,000. BlackRock Inc. raised its stake in shares of Verisign by 2.0% in the third quarter. BlackRock Inc. now owns 8,633,323 shares of the information services provider’s stock worth $1,382,366,000 after purchasing an additional 172,033 shares during the last quarter. WINTON GROUP Ltd raised its stake in shares of Verisign by 2,470.2% in the third quarter. WINTON GROUP Ltd now owns 178,730 shares of the information services provider’s stock worth $28,618,000 after purchasing an additional 171,776 shares during the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Verisign by 88.9% in the third quarter. Wells Fargo & Company MN now owns 337,058 shares of the information services provider’s stock worth $53,969,000 after purchasing an additional 158,628 shares during the last quarter. Institutional investors own 92.19% of the company’s stock.
Several research analysts have recently issued reports on the company. BidaskClub upgraded Verisign from a “sell” rating to a “hold” rating in a research note on Saturday, December 1st. Zacks Investment Research restated a “hold” rating on shares of Verisign in a research note on Saturday, November 17th. Citigroup raised their price objective on Verisign from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, November 2nd. Robert W. Baird upgraded Verisign from a “neutral” rating to an “outperform” rating and raised their price objective for the stock from $160.00 to $170.00 in a research note on Friday, November 2nd. Finally, JPMorgan Chase & Co. upgraded Verisign from an “underweight” rating to a “neutral” rating and raised their price objective for the stock from $125.00 to $160.00 in a research note on Friday, November 2nd. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $154.40.
Shares of NASDAQ:VRSN opened at $153.95 on Friday. Verisign, Inc. has a 52-week low of $105.40 and a 52-week high of $176.76. The stock has a market capitalization of $18.56 billion, a PE ratio of 41.83 and a beta of 0.99.
Verisign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, October 25th. The information services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.13. Verisign had a negative return on equity of 38.09% and a net margin of 41.82%. The firm had revenue of $305.78 million during the quarter, compared to analysts’ expectations of $305.25 million. As a group, research analysts anticipate that Verisign, Inc. will post 4.37 EPS for the current year.
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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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