Ipswich Investment Management Co. Inc. increased its stake in shares of Verisign, Inc. (NASDAQ:VRSN) by 5.3% during the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,500 shares of the information services provider’s stock after buying an additional 175 shares during the quarter. Ipswich Investment Management Co. Inc.’s holdings in Verisign were worth $635,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund boosted its position in shares of Verisign by 41,120.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,763,452 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 3,754,322 shares during the period. Athena Capital Advisors LLC purchased a new stake in Verisign during the 4th quarter valued at approximately $39,000. Bessemer Group Inc. raised its stake in Verisign by 43.5% during the 4th quarter. Bessemer Group Inc. now owns 277 shares of the information services provider’s stock valued at $41,000 after acquiring an additional 84 shares during the last quarter. Signet Investment Advisory Group Inc. purchased a new stake in Verisign during the 4th quarter valued at approximately $44,000. Finally, Sage Capital Advisors llc purchased a new stake in Verisign during the 4th quarter valued at approximately $62,000. Hedge funds and other institutional investors own 94.29% of the company’s stock.
A number of brokerages have recently issued reports on VRSN. Zacks Investment Research raised Verisign from a “hold” rating to a “buy” rating and set a $224.00 target price for the company in a research note on Tuesday, April 30th. BidaskClub raised Verisign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. Citigroup restated a “neutral” rating and issued a $195.00 price target (up previously from $175.00) on shares of Verisign in a report on Tuesday, March 5th. Finally, ValuEngine upgraded Verisign from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 12th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and two have assigned a strong buy rating to the company. Verisign currently has a consensus rating of “Buy” and an average price target of $180.80.
NASDAQ:VRSN opened at $196.95 on Friday. Verisign, Inc. has a 12 month low of $119.08 and a 12 month high of $203.28. The stock has a market capitalization of $23.47 billion, a price-to-earnings ratio of 41.46 and a beta of 1.08.
Verisign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.31 EPS for the quarter, beating the consensus estimate of $1.25 by $0.06. Verisign had a negative return on equity of 43.07% and a net margin of 49.98%. The company had revenue of $306.41 million for the quarter, compared to analyst estimates of $302.63 million. During the same period last year, the company posted $1.07 earnings per share. The firm’s revenue was up 2.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Verisign, Inc. will post 4.96 EPS for the current fiscal year.
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Verisign Company Profile
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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