Illinois Municipal Retirement Fund Cuts Holdings in VeriSign, Inc. (NASDAQ:VRSN)


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Illinois Municipal Retirement Fund reduced its position in VeriSign, Inc. (NASDAQ:VRSN) by 11.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,712 shares of the information services provider’s stock after selling 2,252 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in VeriSign were worth $3,520,000 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. BlackRock Inc. raised its position in VeriSign by 4.1% in the fourth quarter. BlackRock Inc. now owns 9,160,998 shares of the information services provider’s stock valued at $1,982,438,000 after purchasing an additional 360,063 shares during the period. Principal Financial Group Inc. grew its stake in shares of VeriSign by 20.0% during the fourth quarter. Principal Financial Group Inc. now owns 3,037,491 shares of the information services provider’s stock valued at $657,313,000 after acquiring an additional 505,747 shares in the last quarter. Ninety One UK Ltd grew its stake in shares of VeriSign by 1.4% during the fourth quarter. Ninety One UK Ltd now owns 2,934,445 shares of the information services provider’s stock valued at $635,014,000 after acquiring an additional 41,124 shares in the last quarter. Price T Rowe Associates Inc. MD grew its stake in shares of VeriSign by 12.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,022,706 shares of the information services provider’s stock valued at $437,688,000 after acquiring an additional 230,634 shares in the last quarter. Finally, First Trust Advisors LP grew its stake in shares of VeriSign by 6.3% during the fourth quarter. First Trust Advisors LP now owns 1,790,844 shares of the information services provider’s stock valued at $387,539,000 after acquiring an additional 106,160 shares in the last quarter. 90.33% of the stock is currently owned by institutional investors.

In other news, EVP Thomas C. Indelicarto sold 613 shares of the stock in a transaction that occurred on Wednesday, February 10th. The shares were sold at an average price of $202.47, for a total transaction of $124,114.11. Following the sale, the executive vice president now directly owns 54,589 shares of the company’s stock, valued at $11,052,634.83. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO D James Bidzos sold 6,000 shares of the stock in a transaction that occurred on Wednesday, February 17th. The shares were sold at an average price of $200.44, for a total transaction of $1,202,640.00. Insiders have sold 34,778 shares of company stock worth $7,080,168 over the last ninety days. Insiders own 1.35% of the company’s stock.

NASDAQ VRSN opened at $221.25 on Tuesday. The stock has a market cap of $24.92 billion, a P/E ratio of 32.83 and a beta of 0.87. The company’s 50-day simple moving average is $203.87 and its 200 day simple moving average is $201.78. VeriSign, Inc. has a twelve month low of $184.60 and a twelve month high of $222.49.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, April 22nd. The information services provider reported $1.33 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.29 by $0.04. The firm had revenue of $323.62 million for the quarter, compared to analysts’ expectations of $322.82 million. VeriSign had a net margin of 63.32% and a negative return on equity of 54.86%. The company’s quarterly revenue was up 3.6% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.42 earnings per share. As a group, equities analysts predict that VeriSign, Inc. will post 5.26 EPS for the current year.

VRSN has been the subject of a number of research reports. Citigroup lifted their price target on VeriSign from $235.00 to $245.00 in a research note on Friday, April 23rd. TheStreet downgraded VeriSign from a “b-” rating to a “c+” rating in a research note on Tuesday, January 26th. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell lifted their target price on VeriSign from $235.00 to $245.00 in a research note on Friday, April 23rd. Finally, Zacks Investment Research downgraded VeriSign from a “hold” rating to a “sell” rating and set a $213.00 target price for the company. in a research note on Monday, February 15th.

VeriSign Company Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. It enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which support global e-commerce.

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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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