VeriSign Inc. (VRSN) Shares Bought by Westpac Banking Corp
Westpac Banking Corp raised its position in shares of VeriSign Inc. (NASDAQ:VRSN) by 24.4% during the second quarter, Holdings Channel reports. The firm owned 6,520 shares of the company’s stock after buying an additional 1,280 shares during the period. Westpac Banking Corp’s holdings in VeriSign were worth $564,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also modified their holdings of the stock. Global X Management Co. LLC raised its position in VeriSign by 76.1% in the second quarter. Global X Management Co. LLC now owns 1,166 shares of the company’s stock worth $101,000 after buying an additional 504 shares during the last quarter. Mizuho Asset Management Co. Ltd. raised its position in VeriSign by 112.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,327 shares of the company’s stock worth $115,000 after buying an additional 701 shares during the period. IFP Advisors Inc raised its position in VeriSign by 21.2% in the first quarter. IFP Advisors Inc now owns 1,432 shares of the company’s stock worth $127,000 after buying an additional 250 shares during the period. Quadrant Capital Group LLC raised 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 worth $140,000 after buying an additional 17 shares during the period. Finally, MU Investments Co. Ltd. bought a new position in VeriSign during the second quarter worth $161,000.
Shares of VeriSign Inc. (NASDAQ:VRSN) opened at 78.04 on Wednesday. VeriSign Inc. has a 12 month low of $70.26 and a 12 month high of $93.94. The firm’s 50-day moving average price is $76.54 and its 200-day moving average price is $83.48. The firm has a market capitalization of $8.33 billion, a price-to-earnings ratio of 24.86 and a beta of 1.25.
VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.91 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.05. The company had revenue of $286 million for the quarter, compared to analyst estimates of $284.34 million. VeriSign had a negative return on equity of 37.96% and a net margin of 37.47%. The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.74 earnings per share. On average, equities analysts anticipate that VeriSign Inc. will post $3.49 earnings per share for the current year.
A number of research firms recently weighed in on VRSN. Zacks Investment Research lowered VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Cowen and Company reiterated a “market perform” rating and issued a $80.00 price target on shares of VeriSign in a research report on Tuesday, September 6th. JPMorgan Chase & Co. increased their price target on VeriSign from $84.00 to $88.00 and gave the company an “underweight” rating in a research report on Friday, July 29th. Finally, Citigroup Inc. reiterated a “sell” rating and issued a $70.00 price target on shares of VeriSign in a research report on Friday, September 23rd.
In other news, Director Timothy Tomlinson sold 1,477 shares of the business’s stock in a transaction on Tuesday, August 2nd. The stock was sold at an average price of $85.30, for a total transaction of $125,988.10. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible 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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