Verisign, Inc. (VRSN) Shares Sold by GAM Holding AG

GAM Holding AG lessened its holdings in Verisign, Inc. (NASDAQ:VRSN) by 13.5% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund 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 filing with the Securities & Exchange Commission.

A number of other institutional investors have also made changes to their positions in VRSN. CIBC Asset Management Inc grew its position in shares of 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 in the last quarter. Liberty Mutual Group Asset Management Inc. grew its position in shares of 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 in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its position in shares of 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 in the last quarter. Brown Advisory Inc. grew its position in shares of Verisign by 5.1% during the 2nd quarter. Brown Advisory Inc. now owns 9,723 shares of the information services provider’s stock worth $1,337,000 after buying an additional 473 shares in the last quarter. Finally, Sandy Spring Bank grew its position in shares of Verisign by 100.0% during the 2nd quarter. Sandy Spring Bank now owns 1,000 shares of the information services provider’s stock worth $137,000 after buying an additional 500 shares in the last quarter. 92.19% of the stock is currently owned by institutional investors.

In related news, Director Kathleen A. Cote sold 2,384 shares of the firm’s stock in a transaction dated Monday, November 5th. The stock was sold at an average price of $160.50, for a total transaction of $382,632.00. Following the sale, the director now owns 37,594 shares of the company’s stock, valued at $6,033,837. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 0.92% of the stock is owned by company insiders.

A number of equities analysts have recently issued reports on the company. Citigroup increased their price target on Verisign from $152.00 to $155.00 and gave the stock a “neutral” rating in a research report on Friday, November 2nd. JPMorgan Chase & Co. increased their price target on Verisign from $123.00 to $125.00 and gave the stock an “average” rating in a research report on Monday, September 24th. BidaskClub raised Verisign from a “buy” rating to a “strong-buy” rating in a research report on Thursday, August 30th. Zacks Investment Research reissued a “hold” rating on shares of Verisign in a research report on Saturday, November 17th. Finally, Robert W. Baird raised Verisign from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $160.00 to $170.00 in a research report on Friday, November 2nd. Five equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $154.40.

VRSN opened at $153.95 on Friday. Verisign, Inc. has a 12-month low of $105.40 and a 12-month high of $176.76. The firm has a market cap of $18.56 billion, a PE ratio of 41.83 and a beta of 0.99.

Verisign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, October 25th. The information services provider reported $1.23 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.10 by $0.13. Verisign had a negative return on equity of 38.09% and a net margin of 41.82%. The business had revenue of $305.78 million for the quarter, compared to the consensus estimate of $305.25 million. On average, research analysts forecast that Verisign, Inc. will post 4.37 earnings per share for the current fiscal year.

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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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