Amundi Pioneer Asset Management Inc. acquired a new stake in Verisign, Inc. (NASDAQ:VRSN) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 48,031 shares of the information services provider’s stock, valued at approximately $5,496,000.
A number of other institutional investors and hedge funds also recently bought and sold shares of the business. WINTON GROUP Ltd increased its position in Verisign by 6.4% in the 4th quarter. WINTON GROUP Ltd now owns 20,051 shares of the information services provider’s stock valued at $2,295,000 after acquiring an additional 1,211 shares in the last quarter. Geode Capital Management LLC increased its position in Verisign by 6.2% in the 4th quarter. Geode Capital Management LLC now owns 969,593 shares of the information services provider’s stock valued at $110,726,000 after acquiring an additional 56,723 shares in the last quarter. Investec Asset Management LTD increased its position in Verisign by 1.2% in the 4th quarter. Investec Asset Management LTD now owns 2,494,145 shares of the information services provider’s stock valued at $285,430,000 after acquiring an additional 29,357 shares in the last quarter. Burney Co. increased its position in Verisign by 42.1% in the 4th quarter. Burney Co. now owns 52,877 shares of the information services provider’s stock valued at $6,051,000 after acquiring an additional 15,675 shares in the last quarter. Finally, Close Asset Management Ltd increased its position in Verisign by 6.0% in the 4th quarter. Close Asset Management Ltd now owns 16,311 shares of the information services provider’s stock valued at $1,867,000 after acquiring an additional 917 shares in the last quarter.
Several equities research analysts have weighed in on VRSN shares. Zacks Investment Research upgraded shares of Verisign from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. BidaskClub raised shares of Verisign from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. ValuEngine raised shares of Verisign from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. Finally, JPMorgan Chase & Co. raised their target price on shares of Verisign to $106.00 and gave the company an “underweight” rating in a research note on Monday, February 26th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Verisign currently has a consensus rating of “Hold” and an average target price of $106.25.
VRSN stock opened at $125.20 on Wednesday. The stock has a market cap of $12,229.42, a PE ratio of 33.93 and a beta of 0.89. The company has a debt-to-equity ratio of -1.41, a current ratio of 1.57 and a quick ratio of 1.57. Verisign, Inc. has a one year low of $86.16 and a one year high of $127.24.
Verisign (NASDAQ:VRSN) last issued its earnings results on Thursday, February 8th. The information services provider reported $0.96 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.97 by ($0.01). The business had revenue of $295.50 million during the quarter, compared to the consensus estimate of $294.93 million. Verisign had a net margin of 39.25% and a negative return on equity of 36.88%. The firm’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period last year, the business posted $0.92 EPS. sell-side analysts expect that Verisign, Inc. will post 4.19 earnings per share for the current fiscal year.
Verisign declared that its Board of Directors has initiated a stock repurchase plan on Thursday, February 8th that allows the company to repurchase $586.00 million in outstanding shares. This repurchase authorization allows the information services provider to buy shares of its stock through open market purchases. Shares repurchase plans are often a sign that the company’s management believes its shares are undervalued.
COPYRIGHT VIOLATION NOTICE: “Amundi Pioneer Asset Management Inc. Acquires Shares of 48,031 Verisign, Inc. (VRSN)” was originally reported by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this report on another site, it was illegally copied and republished in violation of US & international copyright legislation. The correct version of this report can be viewed at https://ledgergazette.com/2018/03/21/amundi-pioneer-asset-management-inc-acquires-shares-of-48031-verisign-inc-vrsn.html.
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).
Receive News & Ratings for Verisign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verisign and related companies with MarketBeat.com's FREE daily email newsletter.