Financial Advisors Network Inc. boosted its position in VeriSign, Inc. (NASDAQ:VRSN) by 3.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 3,928 shares of the information services provider’s stock after buying an additional 122 shares during the period. Financial Advisors Network Inc.’s holdings in VeriSign were worth $365,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Gulf International Bank UK Ltd raised its stake in shares of VeriSign by 0.7% in the first quarter. Gulf International Bank UK Ltd now owns 30,378 shares of the information services provider’s stock worth $2,646,000 after buying an additional 200 shares during the last quarter. Nisa Investment Advisors LLC raised its stake in shares of VeriSign by 0.4% in the first quarter. Nisa Investment Advisors LLC now owns 60,488 shares of the information services provider’s stock worth $5,269,000 after buying an additional 242 shares during the last quarter. Hartford Investment Management Co. raised its stake in shares of VeriSign by 56.2% in the first quarter. Hartford Investment Management Co. now owns 38,541 shares of the information services provider’s stock worth $3,357,000 after buying an additional 13,873 shares during the last quarter. State of Alaska Department of Revenue raised its stake in shares of VeriSign by 28.5% in the first quarter. State of Alaska Department of Revenue now owns 8,471 shares of the information services provider’s stock worth $737,000 after buying an additional 1,881 shares during the last quarter. Finally, Northern Capital Management LLC purchased a new stake in shares of VeriSign during the first quarter worth approximately $732,000.
VeriSign, Inc. (NASDAQ VRSN) opened at 98.20 on Friday. VeriSign, Inc. has a one year low of $74.01 and a one year high of $103.79. The company has a market cap of $9.81 billion, a PE ratio of 26.76 and a beta of 1.20. The firm’s 50-day moving average price is $98.19 and its 200-day moving average price is $90.40.
VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, July 27th. The information services provider reported $1.05 earnings per share 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 analysts’ expectations of $287.47 million. VeriSign had a negative return on equity of 36.99% and a net margin of 39.92%. The business’s quarterly revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.91 earnings per share. On average, equities research analysts forecast that VeriSign, Inc. will post $3.97 earnings per share for the current fiscal year.
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A number of equities analysts have issued reports on the company. BidaskClub cut VeriSign from a “strong-buy” rating to a “buy” rating in a report on Friday, August 4th. Zacks Investment Research cut VeriSign from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. Finally, Cowen and Company restated a “market perform” rating and set a $94.00 target price on shares of VeriSign in a report on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $87.75.
In other news, Director Timothy Tomlinson sold 1,240 shares of the stock in a transaction dated Tuesday, August 1st. The stock was sold at an average price of $101.00, for a total value of $125,240.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.92% of the company’s stock.
About VeriSign
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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