State Board of Administration of Florida Retirement System Decreases Stake in VeriSign, Inc. (VRSN)
State Board of Administration of Florida Retirement System cut its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 0.8% in the 3rd quarter, according to its most recent 13F filing with the SEC. The firm owned 152,345 shares of the information services provider’s stock after selling 1,220 shares during the period. State Board of Administration of Florida Retirement System owned about 0.15% of VeriSign worth $16,208,000 as of its most recent filing with the SEC.
Several other hedge funds and other institutional investors have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. boosted its stake in VeriSign by 21.9% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,420 shares of the information services provider’s stock valued at $133,000 after purchasing an additional 255 shares during the period. Acrospire Investment Management LLC boosted its stake in VeriSign by 128.6% during the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the information services provider’s stock valued at $149,000 after purchasing an additional 900 shares during the period. Global X Management Co. LLC boosted its stake in VeriSign by 13.4% during the 2nd quarter. Global X Management Co. LLC now owns 1,632 shares of the information services provider’s stock valued at $152,000 after purchasing an additional 193 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its stake in VeriSign by 2.1% during the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,086 shares of the information services provider’s stock valued at $194,000 after purchasing an additional 42 shares during the period. Finally, Hikari Power Ltd acquired a new position in VeriSign during the 2nd quarter valued at about $207,000.
Shares of VeriSign, Inc. (NASDAQ VRSN) opened at $109.42 on Friday. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of -1.45. VeriSign, Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $110.82. The company has a market cap of $10,839.75, a P/E ratio of 30.72 and a beta of 1.03.
VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, October 26th. The information services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. VeriSign had a net margin of 39.79% and a negative return on equity of 36.88%. The business had revenue of $292.40 million for the quarter, compared to the consensus estimate of $290.90 million. During the same period in the previous year, the firm earned $0.93 EPS. The business’s revenue for the quarter was up 1.7% on a year-over-year basis. analysts predict that VeriSign, Inc. will post 3.65 earnings per share for the current fiscal year.
In related news, Director Kathleen A. Cote sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $99.94, for a total value of $149,910.00. Following the sale, the director now directly owns 38,294 shares in the company, valued at approximately $3,827,102.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.92% of the stock is owned by insiders.
A number of analysts have commented on the stock. Cowen and Company restated a “hold” rating and set a $103.00 price target on shares of VeriSign in a research report on Sunday, October 29th. Zacks Investment Research downgraded shares of VeriSign from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. BidaskClub downgraded shares of VeriSign from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Robert W. Baird set a $105.00 price target on shares of VeriSign and gave the stock a “hold” rating in a research report on Friday, October 6th. Finally, Citigroup Inc. boosted their price target on shares of VeriSign from $101.00 to $111.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has given a strong buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $106.33.
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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