VeriSign, Inc. (VRSN) Shares Sold by Texas Permanent School Fund
Texas Permanent School Fund cut its position in VeriSign, Inc. (NASDAQ:VRSN) by 4.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,806 shares of the information services provider’s stock after selling 1,208 shares during the period. Texas Permanent School Fund’s holdings in VeriSign were worth $2,306,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Glen Harbor Capital Management LLC raised its stake in shares of VeriSign by 29.9% in the first quarter. Glen Harbor Capital Management LLC now owns 60,918 shares of the information services provider’s stock worth $5,307,000 after buying an additional 14,036 shares in the last quarter. Dock Street Asset Management Inc. raised its stake in shares of VeriSign by 42.1% in the first quarter. Dock Street Asset Management Inc. now owns 30,623 shares of the information services provider’s stock worth $2,668,000 after buying an additional 9,066 shares in the last quarter. Profund Advisors LLC raised its stake in shares of VeriSign by 9.3% in the first quarter. Profund Advisors LLC now owns 22,931 shares of the information services provider’s stock worth $1,998,000 after buying an additional 1,953 shares in the last quarter. Fisher Asset Management LLC bought a new stake in shares of VeriSign during the first quarter worth $231,000. Finally, Korea Investment CORP raised its stake in shares of VeriSign by 492.0% in the first quarter. Korea Investment CORP now owns 95,900 shares of the information services provider’s stock worth $8,354,000 after buying an additional 79,700 shares in the last quarter.
Shares of VeriSign, Inc. (VRSN) opened at 99.77 on Thursday. The company’s 50-day moving average is $97.21 and its 200 day moving average is $89.59. The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of 27.19 and a beta of 1.20. VeriSign, Inc. has a 1-year low of $74.01 and a 1-year high of $103.79.
VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, July 27th. The information services provider reported $1.05 earnings per share for the quarter, topping the consensus estimate of $0.99 by $0.06. VeriSign had a net margin of 39.92% and a negative return on equity of 36.99%. The business had revenue of $289 million for the quarter, compared to analyst estimates of $287.47 million. During the same quarter last year, the firm earned $0.91 EPS. VeriSign’s quarterly revenue was up .9% compared to the same quarter last year. On average, analysts expect that VeriSign, Inc. will post $3.97 EPS for the current fiscal year.
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A number of brokerages have recently weighed in on VRSN. Zacks Investment Research lowered shares of VeriSign from a “hold” rating to a “sell” rating in a research note on Wednesday, August 2nd. BidaskClub lowered shares of VeriSign from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Cowen and Company reaffirmed a “market perform” rating and issued a $94.00 price target on shares of VeriSign in a research note on Monday, July 3rd. Finally, Citigroup Inc. raised shares of VeriSign from a “sell” rating to a “neutral” rating in a research note on Wednesday, April 12th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has assigned a buy rating to the company’s stock. VeriSign currently has a consensus rating of “Hold” and a consensus target price of $87.75.
In related news, Director Timothy Tomlinson sold 1,240 shares of VeriSign stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $101.00, for a total transaction of $125,240.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.92% of the stock is owned by company insiders.
VeriSign Company Profile
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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