Amalgamated Bank boosted its position in Verisign, Inc. (NASDAQ:VRSN) by 8.2% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 11,251 shares of the information services provider’s stock after acquiring an additional 851 shares during the quarter. Amalgamated Bank’s holdings in Verisign were worth $1,288,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other large investors also recently added to or reduced their stakes in the business. Mackenzie Financial Corp purchased a new position in Verisign in the fourth quarter valued at about $519,000. Standard Life Aberdeen plc raised its position in Verisign by 451.5% in the fourth quarter. Standard Life Aberdeen plc now owns 107,366 shares of the information services provider’s stock valued at $12,290,000 after purchasing an additional 87,899 shares during the period. OppenheimerFunds Inc. purchased a new position in Verisign in the fourth quarter valued at about $210,000. State of Tennessee Treasury Department raised its position in Verisign by 65.9% in the fourth quarter. State of Tennessee Treasury Department now owns 38,788 shares of the information services provider’s stock valued at $4,439,000 after purchasing an additional 15,407 shares during the period. Finally, Edgestream Partners L.P. purchased a new position in Verisign in the fourth quarter valued at about $397,000.
Several research analysts have commented on the company. ValuEngine raised Verisign from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. JPMorgan Chase & Co. raised their price objective on Verisign to $106.00 and gave the company an “underweight” rating in a research report on Monday, February 26th. BidaskClub raised Verisign from a “hold” rating to a “buy” rating in a research report on Saturday, February 10th. Finally, Zacks Investment Research raised Verisign from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company’s stock. Verisign presently has an average rating of “Hold” and a consensus target price of $106.25.
Verisign (NASDAQ:VRSN) last announced its earnings results on Thursday, February 8th. The information services provider reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.01). Verisign had a negative return on equity of 36.88% and a net margin of 39.25%. The business had revenue of $295.50 million for the quarter, compared to analysts’ expectations of $294.93 million. During the same period in the previous year, the firm posted $0.92 earnings per share. The firm’s revenue was up 3.2% compared to the same quarter last year. research analysts predict that Verisign, Inc. will post 4.19 EPS for the current year.
Verisign announced that its Board of Directors has initiated a share buyback program on Thursday, February 8th that allows the company to buyback $586.00 million in outstanding shares. This buyback authorization allows the information services provider to purchase shares of its stock through open market purchases. Shares buyback programs are usually an indication that the company’s board believes its shares are undervalued.
Verisign Company Profile
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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