Boston Financial Mangement LLC raised its stake in Verisign, Inc. (NASDAQ:VRSN) by 1.9% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,514 shares of the information services provider’s stock after purchasing an additional 1,600 shares during the period. Boston Financial Mangement LLC owned approximately 0.09% of Verisign worth $9,901,000 as of its most recent SEC filing.
Other institutional investors also recently modified their holdings of the company. Crossmark Global Holdings Inc. lifted its holdings in shares of Verisign by 19.3% during the 4th quarter. Crossmark Global Holdings Inc. now owns 14,317 shares of the information services provider’s stock worth $1,638,000 after acquiring an additional 2,320 shares during the period. First Mercantile Trust Co. acquired a new stake in Verisign in the 4th quarter valued at about $264,000. Public Employees Retirement Association of Colorado increased its position in Verisign by 3.0% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 17,605 shares of the information services provider’s stock valued at $2,015,000 after acquiring an additional 506 shares in the last quarter. Everence Capital Management Inc. acquired a new stake in Verisign in the 4th quarter valued at about $258,000. Finally, Comerica Bank increased its position in Verisign by 66.4% in the 4th quarter. Comerica Bank now owns 42,814 shares of the information services provider’s stock valued at $4,957,000 after acquiring an additional 17,090 shares in the last quarter.
Several research firms have weighed in on VRSN. BidaskClub upgraded shares of Verisign from a “hold” rating to a “buy” rating in a research report on Saturday. Cowen reaffirmed a “hold” rating and issued a $103.00 target price on shares of Verisign in a research note on Sunday, October 29th. Zacks Investment Research lowered shares of Verisign from a “hold” rating to a “sell” rating in a research note on Wednesday, November 1st. Finally, Citigroup lifted their price objective on shares of Verisign from $101.00 to $111.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Four research analysts have rated the stock with a hold rating and one has issued a buy rating to the company’s stock. Verisign has a consensus rating of “Hold” and an average target price of $106.33.
Shares of Verisign, Inc. (NASDAQ:VRSN) traded down $0.46 on Wednesday, reaching $110.57. 1,054,300 shares of the company’s stock were exchanged, compared to its average volume of 933,109. The company has a debt-to-equity ratio of -1.41, a quick ratio of 1.57 and a current ratio of 1.57. Verisign, Inc. has a 1 year low of $81.58 and a 1 year high of $118.28. The company has a market capitalization of $10,835.53, a price-to-earnings ratio of 30.59 and a beta of 0.92.
Verisign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, February 8th. The information services provider reported $0.96 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.01). Verisign had a net margin of 39.25% and a negative return on equity of 36.88%. The business had revenue of $295.50 million during the quarter, compared to analyst estimates of $294.93 million. During the same quarter last year, the business earned $0.92 earnings per share. Verisign’s revenue for the quarter was up 3.2% on a year-over-year basis. research analysts forecast that Verisign, Inc. will post 3.96 EPS for the current year.
Verisign announced that its board has initiated a share buyback plan on Thursday, February 8th that allows the company to repurchase $586.00 million in outstanding shares. This repurchase authorization allows the information services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.
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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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