Great Lakes Advisors LLC increased its position in Verisign, Inc. (NASDAQ:VRSN) by 122.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,902 shares of the information services provider’s stock after purchasing an additional 2,698 shares during the quarter. Great Lakes Advisors LLC’s holdings in Verisign were worth $785,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in VRSN. Braun Bostich & Associates Inc. raised its stake in Verisign by 1,283.3% during the second quarter. Braun Bostich & Associates Inc. now owns 913 shares of the information services provider’s stock valued at $125,000 after buying an additional 847 shares during the last quarter. Sandy Spring Bank raised its stake in Verisign by 100.0% during the second quarter. Sandy Spring Bank now owns 1,000 shares of the information services provider’s stock valued at $137,000 after buying an additional 500 shares during the last quarter. Piedmont Investment Advisors LLC purchased a new position in Verisign during the second quarter valued at $149,000. Advisory Services Network LLC raised its stake in Verisign by 954.9% during the third quarter. Advisory Services Network LLC now owns 960 shares of the information services provider’s stock valued at $154,000 after buying an additional 869 shares during the last quarter. Finally, Cerebellum GP LLC purchased a new position in Verisign during the third quarter valued at $181,000. Institutional investors own 92.19% of the company’s stock.
Verisign stock opened at $153.95 on Friday. The firm has a market capitalization of $19.03 billion, a price-to-earnings ratio of 38.58 and a beta of 0.99. Verisign, Inc. has a 12 month low of $105.40 and a 12 month high of $176.76.
Verisign (NASDAQ:VRSN) last posted its earnings results on Thursday, October 25th. The information services provider reported $1.23 EPS for the quarter, topping the Zacks’ consensus estimate of $1.10 by $0.13. The business had revenue of $305.78 million during the quarter, compared to analyst estimates of $305.25 million. Verisign had a negative return on equity of 38.09% and a net margin of 41.82%. On average, sell-side analysts expect that Verisign, Inc. will post 4.37 earnings per share for the current year.
In related news, Director Kathleen A. Cote sold 2,384 shares of Verisign stock in a transaction on Monday, November 5th. The stock was sold at an average price of $160.50, for a total value of $382,632.00. Following the completion of the sale, the director now owns 37,594 shares of the company’s stock, valued at $6,033,837. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.92% of the stock is currently owned by company insiders.
A number of research analysts have issued reports on VRSN shares. JPMorgan Chase & Co. lifted their price objective on Verisign from $123.00 to $125.00 and gave the company an “average” rating in a research note on Monday, September 24th. BidaskClub cut Verisign from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, October 9th. Zacks Investment Research reiterated a “hold” rating on shares of Verisign in a research note on Saturday, November 17th. Citigroup lifted their price objective on Verisign from $152.00 to $155.00 and gave the company a “neutral” rating in a research note on Friday, November 2nd. Finally, Robert W. Baird upgraded Verisign from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $160.00 to $170.00 in a research note on Friday, November 2nd. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $154.40.
ILLEGAL ACTIVITY NOTICE: “Verisign, Inc. (VRSN) Shares Bought by Great Lakes Advisors LLC” was first posted by Equities Focus and is the sole property of of Equities Focus. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://www.equitiesfocus.com/2018/12/08/verisign-inc-vrsn-shares-bought-by-great-lakes-advisors-llc.html.
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.
Featured Article: What is cost of equity?
Want to see what other hedge funds are holding VRSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verisign, Inc. (NASDAQ:VRSN).
Receive News & Ratings for Verisign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verisign and related companies with MarketBeat.com's FREE daily email newsletter.