IBM Retirement Fund lessened its stake in shares of Verisign, Inc. (NASDAQ:VRSN) by 8.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,582 shares of the information services provider’s stock after selling 137 shares during the quarter. IBM Retirement Fund’s holdings in Verisign were worth $235,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Athena Capital Advisors LLC bought a new stake in Verisign during the fourth quarter worth approximately $39,000. Bessemer Group Inc. boosted its holdings in Verisign by 43.5% during the fourth quarter. Bessemer Group Inc. now owns 277 shares of the information services provider’s stock worth $41,000 after buying an additional 84 shares in the last quarter. Signet Investment Advisory Group Inc. bought a new stake in Verisign during the fourth quarter worth approximately $44,000. Sage Capital Advisors llc bought a new stake in Verisign during the fourth quarter worth approximately $62,000. Finally, Lindbrook Capital LLC bought a new stake in Verisign during the fourth quarter worth approximately $64,000. Institutional investors and hedge funds own 92.76% of the company’s stock.
A number of equities analysts recently commented on the stock. Zacks Investment Research raised shares of Verisign from a “hold” rating to a “buy” rating and set a $164.00 price objective for the company in a research note on Monday, December 31st. BidaskClub raised shares of Verisign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Citigroup reaffirmed a “neutral” rating and issued a $195.00 price objective (up previously from $175.00) on shares of Verisign in a research note on Tuesday, March 5th. Finally, ValuEngine raised shares of Verisign from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 12th. Four analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $175.00.
Shares of NASDAQ:VRSN opened at $181.85 on Thursday. The firm has a market cap of $21.82 billion, a price-to-earnings ratio of 38.28 and a beta of 1.08. Verisign, Inc. has a 12-month low of $114.01 and a 12-month high of $183.43.
Verisign (NASDAQ:VRSN) last issued its earnings results on Thursday, February 7th. The information services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.21 by $0.37. The company had revenue of $307.45 million during the quarter, compared to analyst estimates of $308.64 million. Verisign had a net margin of 47.94% and a negative return on equity of 42.50%. The company’s revenue for the quarter was up 4.0% on a year-over-year basis. During the same quarter last year, the business posted $0.96 EPS. Equities research analysts expect that Verisign, Inc. will post 4.75 earnings per share for the current fiscal year.
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VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.
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