Gulf International Bank UK Ltd Acquires 9,320 Shares of Verisign, Inc. (VRSN)

Gulf International Bank UK Ltd increased its holdings in Verisign, Inc. (NASDAQ:VRSN) by 31.7% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 38,705 shares of the information services provider’s stock after buying an additional 9,320 shares during the period. Gulf International Bank UK Ltd’s holdings in Verisign were worth $6,197,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. CIBC Asset Management Inc lifted its holdings in Verisign by 2.5% in the 2nd quarter. CIBC Asset Management Inc now owns 13,209 shares of the information services provider’s stock valued at $1,815,000 after purchasing an additional 328 shares in the last quarter. Liberty Mutual Group Asset Management Inc. lifted its holdings in Verisign by 12.1% in the 2nd quarter. Liberty Mutual Group Asset Management Inc. now owns 3,838 shares of the information services provider’s stock valued at $527,000 after purchasing an additional 413 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Verisign by 1.1% in the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 39,820 shares of the information services provider’s stock valued at $5,472,000 after purchasing an additional 429 shares in the last quarter. Eqis Capital Management Inc. lifted its holdings in Verisign by 8.0% in the 2nd quarter. Eqis Capital Management Inc. now owns 5,827 shares of the information services provider’s stock valued at $801,000 after purchasing an additional 430 shares in the last quarter. Finally, Willow Creek Wealth Management Inc. lifted its holdings in Verisign by 6.3% in the 2nd quarter. Willow Creek Wealth Management Inc. now owns 7,720 shares of the information services provider’s stock valued at $1,061,000 after purchasing an additional 455 shares in the last quarter. Institutional investors and hedge funds own 93.51% of the company’s stock.

VRSN has been the topic of a number of recent research reports. JPMorgan Chase & Co. upped their target price on shares of Verisign from $122.00 to $123.00 and gave the company an “underweight” rating in a report on Friday, July 27th. Robert W. Baird upgraded shares of Verisign from a “neutral” rating to an “outperform” rating and upped their target price for the company from $160.00 to $170.00 in a report on Friday, November 2nd. BidaskClub lowered shares of Verisign from a “buy” rating to a “hold” rating in a report on Wednesday, October 17th. Cowen restated a “hold” rating and issued a $155.00 target price on shares of Verisign in a report on Friday, July 27th. Finally, Citigroup upped their target price on shares of Verisign from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, November 2nd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Verisign has an average rating of “Hold” and an average target price of $154.40.

In other news, Director Kathleen A. Cote sold 2,384 shares of the stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $160.50, for a total transaction of $382,632.00. Following the transaction, the director now directly owns 37,594 shares in the company, valued at approximately $6,033,837. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 0.92% of the company’s stock.

Shares of VRSN stock opened at $160.10 on Friday. The stock has a market cap of $19.00 billion, a PE ratio of 43.51 and a beta of 0.98. Verisign, Inc. has a 1-year low of $105.40 and a 1-year high of $176.76.

Verisign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, October 25th. The information services provider reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.13. The business had revenue of $305.78 million for the quarter, compared to analyst estimates of $305.25 million. Verisign had a net margin of 41.82% and a negative return on equity of 38.09%. As a group, research analysts anticipate 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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Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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