MainStreet Investment Advisors LLC bought a new stake in shares of Verisign, Inc. (NASDAQ:VRSN) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund bought 8,146 shares of the information services provider’s stock, valued at approximately $932,000.
Several other institutional investors also recently added to or reduced their stakes in VRSN. LPL Financial LLC grew its stake in shares of Verisign by 113.2% in the 4th quarter. LPL Financial LLC now owns 4,835 shares of the information services provider’s stock worth $553,000 after acquiring an additional 2,567 shares in the last quarter. Millennium Management LLC grew its stake in shares of Verisign by 29.5% in the 4th quarter. Millennium Management LLC now owns 112,879 shares of the information services provider’s stock worth $12,918,000 after acquiring an additional 25,719 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of Verisign by 12.1% in the 4th quarter. TIAA CREF Investment Management LLC now owns 333,169 shares of the information services provider’s stock worth $38,128,000 after acquiring an additional 35,847 shares in the last quarter. Teachers Advisors LLC grew its stake in shares of Verisign by 42.8% in the 4th quarter. Teachers Advisors LLC now owns 193,601 shares of the information services provider’s stock worth $22,156,000 after acquiring an additional 58,056 shares in the last quarter. Finally, Guggenheim Capital LLC grew its stake in shares of Verisign by 17.4% in the 4th quarter. Guggenheim Capital LLC now owns 742,482 shares of the information services provider’s stock worth $84,970,000 after acquiring an additional 110,026 shares in the last quarter.
Several equities analysts recently weighed in on VRSN shares. BidaskClub lowered shares of Verisign from a “buy” rating to a “hold” rating in a research report on Thursday, January 11th. ValuEngine upgraded shares of Verisign from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. Zacks Investment Research upgraded shares of Verisign from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Verisign to $106.00 and gave the company an “underweight” rating in a report on Monday, February 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $106.25.
Shares of Verisign, Inc. (NASDAQ VRSN) opened at $125.31 on Friday. The company has a market cap of $11,946.80, a PE ratio of 33.96 and a beta of 0.89. Verisign, Inc. has a fifty-two week low of $86.16 and a fifty-two week high of $126.50. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of -1.41.
Verisign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, February 8th. The information services provider reported $0.96 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.97 by ($0.01). Verisign had a net margin of 39.25% and a negative return on equity of 36.88%. The business had revenue of $295.50 million for the quarter, compared to analysts’ expectations of $294.93 million. During the same period last year, the company earned $0.92 earnings per share. Verisign’s revenue for the quarter was up 3.2% compared to the same quarter last year. equities research analysts anticipate that Verisign, Inc. will post 4.19 EPS for the current year.
Verisign announced that its Board of Directors has initiated a share repurchase program on Thursday, February 8th that permits the company to repurchase $586.00 million in outstanding shares. This repurchase authorization permits the information services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
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VeriSign, Inc is a provider of domain name registry services and Internet security. The Company operates through Registry Services and Security Services segment. Registry Services ensure the security, stability and resiliency of Internet infrastructure and services, including the .com and .net domains, and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS).
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