Transamerica Financial Advisors Inc. lowered its stake in shares of Verisign (NASDAQ:VRSN) by 7.1% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,332 shares of the information services provider’s stock after selling 1,257 shares during the quarter. Transamerica Financial Advisors Inc.’s holdings in Verisign were worth $1,937,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently bought and sold shares of the stock. BlackRock Inc. grew its position in Verisign by 2.3% during the fourth quarter. BlackRock Inc. now owns 8,531,215 shares of the information services provider’s stock valued at $976,313,000 after buying an additional 194,074 shares during the period. Renaissance Technologies LLC boosted its position in Verisign by 15.5% during the fourth quarter. Renaissance Technologies LLC now owns 6,826,054 shares of the information services provider’s stock worth $781,174,000 after purchasing an additional 916,278 shares during the period. Investec Asset Management LTD boosted its position in Verisign by 1.2% during the fourth quarter. Investec Asset Management LTD now owns 2,494,145 shares of the information services provider’s stock worth $285,430,000 after purchasing an additional 29,357 shares during the period. APG Asset Management N.V. boosted its position in Verisign by 76.3% during the fourth quarter. APG Asset Management N.V. now owns 2,054,186 shares of the information services provider’s stock worth $195,770,000 after purchasing an additional 888,710 shares during the period. Finally, Arrowstreet Capital Limited Partnership boosted its position in Verisign by 10.9% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,749,003 shares of the information services provider’s stock worth $200,156,000 after purchasing an additional 171,859 shares during the period.
VRSN has been the subject of a number of research reports. Zacks Investment Research upgraded shares of Verisign from a “hold” rating to a “buy” rating and set a $132.00 target price for the company in a research report on Friday, April 13th. BidaskClub lowered shares of Verisign from a “strong-buy” rating to a “buy” rating in a research report on Wednesday, March 28th. ValuEngine upgraded shares of Verisign from a “hold” rating to a “buy” rating in a research report on Thursday, March 1st. JPMorgan Chase increased their target price on shares of Verisign to $106.00 and gave the stock an “underweight” rating in a research report on Monday, February 26th. Finally, Citigroup increased their target price on shares of Verisign from $111.00 to $123.00 and gave the stock a “neutral” rating in a research report on Monday, April 30th. One research analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating to the company. Verisign currently has a consensus rating of “Hold” and an average price target of $113.80.
Verisign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, April 26th. The information services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. Verisign had a net margin of 40.41% and a negative return on equity of 37.57%. The firm had revenue of $299.29 million for the quarter, compared to the consensus estimate of $298.00 million. During the same period in the prior year, the firm posted $0.96 earnings per share. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. analysts anticipate that Verisign will post 4.28 earnings per share for the current year.
Verisign announced that its Board of Directors has initiated a share repurchase program on Thursday, February 8th that permits the company to repurchase $586.00 million in outstanding shares. This repurchase authorization permits the information services provider to purchase shares of its stock through open market purchases. Shares repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
Verisign Company Profile
VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.
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