Asset Management One Co. Ltd. Decreases Position in Verisign, Inc. (VRSN)
Asset Management One Co. Ltd. lowered its holdings in Verisign, Inc. (NASDAQ:VRSN) by 1.6% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 157,887 shares of the information services provider’s stock after selling 2,557 shares during the period. Asset Management One Co. Ltd. owned approximately 0.16% of Verisign worth $16,789,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Grove Bank & Trust boosted its holdings in Verisign by 186.5% in the 3rd quarter. Grove Bank & Trust now owns 1,060 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 690 shares during the period. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Verisign by 21.9% in 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 holdings in Verisign by 128.6% in 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 holdings in Verisign by 13.4% in 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. Finally, Hikari Power Ltd bought a new stake in Verisign in the 2nd quarter valued at about $207,000.
Shares of Verisign, Inc. (NASDAQ VRSN) opened at $113.78 on Thursday. Verisign, Inc. has a twelve month low of $75.71 and a twelve month high of $118.28. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of -1.45. The firm has a market cap of $11,268.53, a P/E ratio of 31.93 and a beta of 1.03.
Verisign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, October 26th. The information services provider reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.03. Verisign had a net margin of 39.79% and a negative return on equity of 36.88%. The company had revenue of $292.40 million during the quarter, compared to the consensus estimate of $290.90 million. During the same quarter in the prior year, the firm posted $0.93 EPS. The firm’s quarterly revenue was up 1.7% on a year-over-year basis. research analysts forecast that Verisign, Inc. will post 3.65 earnings per share for the current year.
A number of analysts have recently weighed in on VRSN shares. Citigroup upped their price target on shares of Verisign from $101.00 to $111.00 and gave the stock a “neutral” rating in a report on Friday, October 27th. Cowen reaffirmed a “hold” rating and set a $103.00 price target on shares of Verisign in a report on Sunday, October 29th. Robert W. Baird set a $105.00 price target on shares of Verisign and gave the stock a “hold” rating in a report on Friday, October 6th. Zacks Investment Research downgraded shares of Verisign from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Finally, BidaskClub raised shares of Verisign from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has assigned a strong buy rating to the stock. The company has an average rating of “Hold” and an average price target of $106.33.
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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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