Summit Securities Group LLC Acquires New Stake in VeriSign, Inc. (NASDAQ:VRSN)

Summit Securities Group LLC acquired a new position in VeriSign, Inc. (NASDAQ:VRSN) during the second quarter, Holdings Channel reports. The institutional investor acquired 3,800 shares of the information services provider’s stock, valued at approximately $353,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. BlackRock Inc. boosted its position in shares of VeriSign by 1,765.9% in the first quarter. BlackRock Inc. now owns 7,706,691 shares of the information services provider’s stock valued at $671,330,000 after buying an additional 7,293,666 shares during the period. Eqis Capital Management Inc. bought a new position in shares of VeriSign during the second quarter valued at approximately $350,000. SG Americas Securities LLC boosted its position in shares of VeriSign by 37.0% in the first quarter. SG Americas Securities LLC now owns 27,559 shares of the information services provider’s stock valued at $2,401,000 after buying an additional 7,443 shares during the period. Virtu Financial LLC bought a new position in shares of VeriSign during the second quarter valued at approximately $211,000. Finally, Vanguard Group Inc. boosted its position in shares of VeriSign by 0.7% in the first quarter. Vanguard Group Inc. now owns 8,489,961 shares of the information services provider’s stock valued at $739,561,000 after buying an additional 58,352 shares during the period.

VeriSign, Inc. (VRSN) opened at 97.95 on Friday. VeriSign, Inc. has a 12 month low of $74.01 and a 12 month high of $103.79. The company’s 50-day moving average price is $97.47 and its 200 day moving average price is $89.78. The firm has a market capitalization of $9.79 billion, a PE ratio of 26.70 and a beta of 1.20.

VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, July 27th. The information services provider reported $1.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.99 by $0.06. The company had revenue of $289 million during the quarter, compared to analyst estimates of $287.47 million. VeriSign had a negative return on equity of 36.99% and a net margin of 39.92%. VeriSign’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $0.91 earnings per share. On average, equities research analysts predict that VeriSign, Inc. will post $3.97 earnings per share for the current year.

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Several research analysts recently commented on the company. Zacks Investment Research cut VeriSign from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. BidaskClub cut VeriSign from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 4th. Finally, Cowen and Company reissued a “market perform” rating and set a $94.00 price target on shares of VeriSign in a research report on Monday, July 3rd. One research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the company. The company presently 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 the company’s stock in a transaction that occurred on Tuesday, August 1st. The stock was sold at an average price of $101.00, for a total value of $125,240.00. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.92% of the stock is currently owned by corporate 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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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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