PNC Financial Services Group Inc. Has $563,000 Position in VeriSign Inc. (VRSN)
PNC Financial Services Group Inc. cut its stake in shares of VeriSign Inc. (NASDAQ:VRSN) by 3.5% during the second quarter, Holdings Channel reports. The institutional investor owned 6,517 shares of the company’s stock after selling 235 shares during the period. PNC Financial Services Group Inc.’s holdings in VeriSign were worth $563,000 as of its most recent SEC filing.
Other institutional investors have also recently added to or reduced their stakes in the company. IFP Advisors Inc boosted its position in VeriSign by 21.2% in the first quarter. IFP Advisors Inc now owns 1,432 shares of the company’s stock valued at $127,000 after buying an additional 250 shares in the last quarter. Quadrant Capital Group LLC boosted its position in VeriSign by 1.0% in the second quarter. Quadrant Capital Group LLC now owns 1,656 shares of the company’s stock valued at $140,000 after buying an additional 17 shares in the last quarter. MU Investments Co. Ltd. purchased a new position in VeriSign during the second quarter valued at $161,000. Bessemer Group Inc. boosted its position in VeriSign by 1.1% in the first quarter. Bessemer Group Inc. now owns 2,304 shares of the company’s stock valued at $204,000 after buying an additional 24 shares in the last quarter. Finally, Fisher Asset Management LLC boosted its position in VeriSign by 1.2% in the second quarter. Fisher Asset Management LLC now owns 2,527 shares of the company’s stock valued at $215,000 after buying an additional 31 shares in the last quarter.
VeriSign Inc. (NASDAQ:VRSN) traded up 0.36% during trading on Friday, reaching $78.76. 456,201 shares of the company’s stock were exchanged. The firm’s 50-day moving average price is $77.81 and its 200-day moving average price is $84.10. VeriSign Inc. has a 12 month low of $67.04 and a 12 month high of $93.94. The firm has a market cap of $8.41 billion, a price-to-earnings ratio of 25.09 and a beta of 1.26.
VeriSign (NASDAQ:VRSN) last issued its earnings results on Thursday, July 28th. The company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. VeriSign had a negative return on equity of 37.96% and a net margin of 37.47%. The company had revenue of $286 million for the quarter, compared to analyst estimates of $284.34 million. During the same period in the prior year, the firm earned $0.74 earnings per share. VeriSign’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities research analysts anticipate that VeriSign Inc. will post $3.49 EPS for the current year.
Several equities analysts recently weighed in on the stock. Zacks Investment Research cut shares of VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. JPMorgan Chase & Co. lifted their price objective on shares of VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a research report on Friday, July 29th. Finally, Cowen and Company reaffirmed a “market perform” rating and set a $80.00 price objective on shares of VeriSign in a research report on Tuesday, September 6th.
In other news, Director Timothy Tomlinson sold 1,477 shares of the company’s stock in a transaction that occurred on Tuesday, August 2nd. The stock was sold at an average price of $85.30, for a total transaction of $125,988.10. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.92% of the company’s stock.
VeriSign Company Profile
VeriSign, Inc is a provider of domain name registry services and Internet security, enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world (Registry Services). The Company operates in Registry Services and Security Services segment. Its product suite also includes Security Services consisting of Distributed Denial of Service (DDoS) Protection Services, Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services.
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