Jefferies Group LLC grew its stake in Verisign, Inc. (NASDAQ:VRSN) by 32.3% in the 4th quarter, HoldingsChannel reports. The firm owned 26,021 shares of the information services provider’s stock after purchasing an additional 6,358 shares during the period. Jefferies Group LLC’s holdings in Verisign were worth $2,978,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Grove Bank & Trust raised its holdings in Verisign by 186.5% in the 3rd quarter. Grove Bank & Trust now owns 1,060 shares of the information services provider’s stock worth $113,000 after purchasing an additional 690 shares in the last quarter. Twin Tree Management LP bought a new position in Verisign in the 4th quarter worth $172,000. Mckinley Capital Management LLC Delaware bought a new position in Verisign in the 4th quarter worth $177,000. Visionary Asset Management Inc. bought a new position in Verisign in the 3rd quarter worth $200,000. Finally, Candriam Luxembourg S.C.A. bought a new position in Verisign in the 4th quarter worth $208,000.
Verisign, Inc. (NASDAQ VRSN) opened at $120.46 on Monday. The company has a debt-to-equity ratio of -1.41, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a market cap of $11,699.14, a PE ratio of 33.19 and a beta of 0.89. Verisign, Inc. has a 12 month low of $84.89 and a 12 month high of $121.61.
Verisign declared that its Board of Directors has initiated a stock buyback program on Thursday, February 8th that allows the company to repurchase $586.00 million in shares. This repurchase authorization allows the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase programs are often an indication that the company’s board of directors believes its shares are undervalued.
Several research analysts have commented on the stock. BidaskClub lowered shares of Verisign from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. JPMorgan Chase & Co. increased their price target on shares of Verisign to $106.00 and gave the stock an “underweight” rating in a research note on Monday, February 26th. Zacks Investment Research upgraded shares of Verisign from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Finally, ValuEngine upgraded shares of Verisign from a “hold” rating to a “buy” rating in a research note on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the stock. Verisign presently has an average rating of “Hold” and an average price target of $106.25.
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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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