Los Angeles Capital Management & Equity Research Inc. Buys 13,703 Shares of VeriSign, Inc. (VRSN)

Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 40.5% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 47,517 shares of the information services provider’s stock after buying an additional 13,703 shares during the quarter. Los Angeles Capital Management & Equity Research Inc.’s holdings in VeriSign were worth $4,417,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of VRSN. Tower Research Capital LLC TRC grew its stake in VeriSign by 24.6% during the 1st quarter. Tower Research Capital LLC TRC now owns 1,200 shares of the information services provider’s stock worth $105,000 after buying an additional 237 shares during the last quarter. Global X Management Co. LLC grew its stake in VeriSign by 52.6% during the 1st quarter. Global X Management Co. LLC now owns 1,439 shares of the information services provider’s stock worth $125,000 after buying an additional 496 shares during the last quarter. Pacer Advisors Inc. grew its stake in VeriSign by 3.4% during the 1st quarter. Pacer Advisors Inc. now owns 1,654 shares of the information services provider’s stock worth $144,000 after buying an additional 55 shares during the last quarter. OLD Mutual Customised Solutions Proprietary Ltd. grew its stake in VeriSign by 109.5% during the 1st quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 1,676 shares of the information services provider’s stock worth $146,000 after buying an additional 876 shares during the last quarter. Finally, Fifth Third Bancorp grew its stake in VeriSign by 5.1% during the 1st quarter. Fifth Third Bancorp now owns 1,702 shares of the information services provider’s stock worth $148,000 after buying an additional 82 shares during the last quarter.

VeriSign, Inc. (NASDAQ:VRSN) opened at 103.73 on Wednesday. The company’s 50-day moving average price is $100.76 and its 200-day moving average price is $92.71. VeriSign, Inc. has a 52 week low of $74.46 and a 52 week high of $105.00. The company has a market capitalization of $10.36 billion, a P/E ratio of 28.27 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 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.99 by $0.06. The business had revenue of $289.00 million during the quarter, compared to the consensus estimate of $287.47 million. VeriSign had a negative return on equity of 36.99% and a net margin of 39.92%. VeriSign’s revenue was up .9% on a year-over-year basis. During the same quarter last year, the company earned $0.91 EPS. On average, equities analysts forecast that VeriSign, Inc. will post $3.97 EPS for the current fiscal year.

A number of research analysts recently commented on the company. BidaskClub downgraded VeriSign from a “strong-buy” rating to a “buy” rating in a research note on Friday, August 4th. Zacks Investment Research downgraded VeriSign from a “buy” rating to a “hold” rating in a research note on Friday, May 26th. Robert W. Baird restated a “hold” rating and set a $105.00 price objective on shares of VeriSign in a research note on Thursday, August 31st. Finally, Cowen and Company restated a “market perform” rating and set a $94.00 price objective on shares of VeriSign in a research note on Monday, July 3rd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average price target of $92.75.

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In related news, Director Timothy Tomlinson sold 1,240 shares of the firm’s stock in a transaction on Tuesday, August 1st. The stock was sold at an average price of $101.00, for a total transaction of $125,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Kathleen A. Cote sold 1,500 shares of the firm’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $99.94, for a total value of $149,910.00. Following the sale, the director now directly owns 38,294 shares of the company’s stock, valued at $3,827,102.36. The disclosure for this sale can be found here. 0.92% of the stock is owned by company 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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