VeriSign, Inc. (VRSN) Position Lifted by Investec Asset Management LTD

Investec Asset Management LTD increased its position in VeriSign, Inc. (NASDAQ:VRSN) by 11.0% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,486,365 shares of the information services provider’s stock after acquiring an additional 247,127 shares during the quarter. VeriSign comprises about 1.1% of Investec Asset Management LTD’s investment portfolio, making the stock its 28th biggest position. Investec Asset Management LTD owned about 2.49% of VeriSign worth $231,132,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Whittier Trust Co. of Nevada Inc. raised its holdings in VeriSign by 2.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,086 shares of the information services provider’s stock worth $194,000 after acquiring an additional 42 shares during the period. Pacer Advisors Inc. raised its holdings in VeriSign by 3.4% in the 1st quarter. Pacer Advisors Inc. now owns 1,654 shares of the information services provider’s stock worth $144,000 after acquiring an additional 55 shares during the period. Meeder Asset Management Inc. raised its holdings in VeriSign by 0.5% in the 2nd quarter. Meeder Asset Management Inc. now owns 10,268 shares of the information services provider’s stock worth $954,000 after acquiring an additional 56 shares during the period. Conning Inc. raised its holdings in VeriSign by 3.1% in the 2nd quarter. Conning Inc. now owns 2,674 shares of the information services provider’s stock worth $249,000 after acquiring an additional 80 shares during the period. Finally, Thrivent Financial For Lutherans raised its holdings in VeriSign by 2.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 3,340 shares of the information services provider’s stock worth $310,000 after acquiring an additional 80 shares during the period.

VeriSign, Inc. (VRSN) traded up 0.97% on Friday, hitting $104.39. 1,536,098 shares of the stock traded hands. VeriSign, Inc. has a 52 week low of $74.46 and a 52 week high of $105.00. The firm’s 50 day moving average is $101.05 and its 200 day moving average is $93.16. The stock has a market cap of $10.43 billion, a price-to-earnings ratio of 28.45 and a beta of 1.18.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, July 27th. The information services provider reported $1.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.99 by $0.06. The company had revenue of $289.00 million during the quarter, compared to analysts’ expectations of $287.47 million. VeriSign had a net margin of 39.92% and a negative return on equity of 36.99%. VeriSign’s quarterly revenue was up .9% compared to the same quarter last year. During the same quarter last year, the company posted $0.91 EPS. Equities analysts anticipate that VeriSign, Inc. will post $3.97 earnings per share for the current year.

In other news, Director Kathleen A. Cote sold 1,500 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $99.94, for a total transaction of $149,910.00. Following the completion of the sale, the director now owns 38,294 shares in the company, valued at approximately $3,827,102.36. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Timothy Tomlinson sold 1,240 shares of the firm’s stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $101.00, for a total transaction of $125,240.00. The disclosure for this sale can be found here. Company insiders own 0.92% of the company’s stock.

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VRSN has been the topic of several recent analyst reports. BidaskClub upgraded shares of VeriSign from a “buy” rating to a “strong-buy” rating in a report on Thursday, June 22nd. Cowen and Company reiterated a “market perform” rating and issued a $94.00 target price on shares of VeriSign in a report on Monday, July 3rd. Zacks Investment Research downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a report on Friday, June 2nd. Finally, Robert W. Baird reiterated a “hold” rating and issued a $105.00 target price on shares of VeriSign in a report on Thursday, August 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $92.75.

VeriSign 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).

Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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