Dupont Capital Management Corp lessened its stake in shares of Verisign, Inc. (NASDAQ:VRSN) by 35.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 32,403 shares of the information services provider’s stock after selling 18,138 shares during the period. Dupont Capital Management Corp’s holdings in Verisign were worth $5,188,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of VRSN. Braun Bostich & Associates Inc. raised its stake in shares of Verisign by 1,283.3% during the second quarter. Braun Bostich & Associates Inc. now owns 913 shares of the information services provider’s stock valued at $125,000 after acquiring an additional 847 shares in the last quarter. Sandy Spring Bank raised its stake in shares of Verisign by 100.0% during the second quarter. Sandy Spring Bank now owns 1,000 shares of the information services provider’s stock valued at $137,000 after acquiring an additional 500 shares in the last quarter. Piedmont Investment Advisors LLC bought a new stake in shares of Verisign during the second quarter valued at approximately $149,000. Advisory Services Network LLC raised its stake in shares of Verisign by 954.9% during the third quarter. Advisory Services Network LLC now owns 960 shares of the information services provider’s stock valued at $154,000 after acquiring an additional 869 shares in the last quarter. Finally, Cerebellum GP LLC bought a new stake in shares of Verisign during the third quarter valued at approximately $181,000. 93.51% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts recently commented on VRSN shares. JPMorgan Chase & Co. boosted their price objective on shares of Verisign from $123.00 to $125.00 and gave the stock an “average” rating in a research note on Monday, September 24th. BidaskClub downgraded shares of Verisign from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. Robert W. Baird reissued a “hold” rating and issued a $160.00 price objective on shares of Verisign in a research note on Friday, July 27th. Cowen reissued a “hold” rating and issued a $155.00 price objective on shares of Verisign in a research note on Friday, July 27th. Finally, Citigroup boosted their price objective on shares of Verisign from $152.00 to $155.00 and gave the stock a “neutral” rating in a research note on Friday, November 2nd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $154.40.
Shares of NASDAQ:VRSN opened at $160.10 on Friday. The company has a market capitalization of $19.00 billion, a P/E ratio of 43.51 and a beta of 0.98. Verisign, Inc. has a 52 week low of $105.40 and a 52 week high of $176.76.
Verisign (NASDAQ:VRSN) last issued its quarterly earnings data 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 during the quarter, compared to the consensus estimate of $305.25 million. Verisign had a net margin of 41.82% and a negative return on equity of 38.09%. On average, analysts forecast that Verisign, Inc. will post 4.37 EPS for the current fiscal year.
In related news, Director Kathleen A. Cote sold 2,384 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 37,594 shares of the company’s stock, valued at $6,033,837. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.92% of the company’s stock.
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.
Further Reading: Price to Earnings Ratio (PE) Basics
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