Dorsey Wright & Associates Acquires Shares of 12,754 Verisign, Inc. (VRSN)

Dorsey Wright & Associates acquired a new position in shares of Verisign, Inc. (NASDAQ:VRSN) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 12,754 shares of the information services provider’s stock, valued at approximately $2,042,000.

A number of other hedge funds have also recently bought and sold shares of the business. CIBC Asset Management Inc increased its position in 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 buying an additional 328 shares during the period. Liberty Mutual Group Asset Management Inc. increased its position in 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 buying an additional 413 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank increased its position in 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 buying an additional 429 shares during the period. Eqis Capital Management Inc. increased its position in Verisign by 8.0% during the 2nd quarter. Eqis Capital Management Inc. now owns 5,827 shares of the information services provider’s stock worth $801,000 after buying an additional 430 shares during the period. Finally, Willow Creek Wealth Management Inc. increased its position in Verisign by 6.3% during the 2nd quarter. Willow Creek Wealth Management Inc. now owns 7,720 shares of the information services provider’s stock worth $1,061,000 after buying an additional 455 shares during the period. Hedge funds and other institutional investors own 93.30% of the company’s stock.

Shares of NASDAQ VRSN opened at $143.98 on Friday. The company has a current ratio of 1.33, a quick ratio of 1.33 and a debt-to-equity ratio of -1.29. Verisign, Inc. has a 52 week low of $105.40 and a 52 week high of $164.19. The firm has a market capitalization of $19.52 billion, a P/E ratio of 39.13 and a beta of 0.89.

Verisign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, July 26th. The information services provider reported $1.18 EPS for the quarter, topping the Zacks’ consensus estimate of $1.14 by $0.04. Verisign had a negative return on equity of 37.20% and a net margin of 40.38%. The company had revenue of $302.40 million for the quarter, compared to analysts’ expectations of $302.47 million. During the same quarter last year, the business earned $1.05 earnings per share. Verisign’s revenue was up 4.8% on a year-over-year basis. As a group, equities analysts anticipate that Verisign, Inc. will post 4.31 EPS for the current year.

Several research analysts have weighed in on VRSN shares. BidaskClub upgraded Verisign from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 30th. JPMorgan Chase & Co. increased their price objective on Verisign from $122.00 to $123.00 and gave the stock an “underweight” rating in a research report on Friday, July 27th. Cowen reiterated a “hold” rating and set a $155.00 price objective on shares of Verisign in a research report on Friday, July 27th. Finally, Robert W. Baird reiterated a “hold” rating and set a $160.00 price objective on shares of Verisign in a research report on Friday, July 27th. Five investment analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. Verisign has an average rating of “Hold” and a consensus target price of $139.00.

Verisign Company 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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Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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