Utah Retirement Systems lowered its position in VeriSign, Inc. (NASDAQ:VRSN) by 4.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,640 shares of the information services provider’s stock after selling 700 shares during the period. Utah Retirement Systems’ holdings in VeriSign were worth $1,449,000 as of its most recent SEC filing.
A number of other hedge funds also recently added to or reduced their stakes in VRSN. Investec Asset Management LTD boosted its position in shares of VeriSign by 0.7% in the first quarter. Investec Asset Management LTD now owns 2,239,238 shares of the information services provider’s stock worth $195,060,000 after buying an additional 15,451 shares during the last quarter. Norges Bank purchased a new position in VeriSign during the fourth quarter worth $91,110,000. First Trust Advisors LP raised its position in VeriSign by 6.5% in the first quarter. First Trust Advisors LP now owns 994,172 shares of the information services provider’s stock worth $86,602,000 after buying an additional 60,487 shares in the last quarter. Two Sigma Advisers LP raised its position in VeriSign by 51.0% in the third quarter. Two Sigma Advisers LP now owns 873,780 shares of the information services provider’s stock worth $68,365,000 after buying an additional 295,000 shares in the last quarter. Finally, Schroder Investment Management Group raised its position in VeriSign by 9.9% in the first quarter. Schroder Investment Management Group now owns 645,052 shares of the information services provider’s stock worth $56,242,000 after buying an additional 58,128 shares in the last quarter.
VeriSign, Inc. (NASDAQ:VRSN) traded down 0.86% during mid-day trading on Tuesday, hitting $92.84. 164,036 shares of the company were exchanged. The stock’s 50 day moving average is $90.71 and its 200-day moving average is $85.09. VeriSign, Inc. has a 12-month low of $74.01 and a 12-month high of $93.92. The company has a market cap of $9.42 billion, a price-to-earnings ratio of 26.23 and a beta of 1.24.
VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, April 27th. The information services provider reported $0.86 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.86. VeriSign had a negative return on equity of 36.75% and a net margin of 39.13%. The firm had revenue of $288.60 million during the quarter, compared to the consensus estimate of $284.70 million. During the same quarter in the prior year, the firm posted $0.85 EPS. The business’s revenue was up 2.4% on a year-over-year basis. Equities research analysts predict that VeriSign, Inc. will post $3.95 EPS for the current year.
Several equities analysts recently commented on VRSN shares. Zacks Investment Research raised shares of VeriSign from a “hold” rating to a “buy” rating and set a $100.00 price target for the company in a research report on Tuesday, May 2nd. Citigroup Inc. upgraded shares of VeriSign from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 12th. Cowen and Company boosted their price objective on shares of VeriSign from $89.00 to $94.00 and gave the stock a “market perform” rating in a research note on Monday, April 3rd. Finally, Robert W. Baird restated a “neutral” rating and issued a $85.00 target price on shares of VeriSign in a research note on Tuesday, February 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $87.80.
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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