Forsta AP Fonden grew its holdings in Verisign, Inc. (NASDAQ:VRSN) by 15.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,800 shares of the information services provider’s stock after purchasing an additional 4,300 shares during the quarter. Forsta AP Fonden’s holdings in Verisign were worth $3,639,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also modified their holdings of the company. Grove Bank & Trust boosted its stake in shares of Verisign by 186.5% in the 3rd quarter. Grove Bank & Trust now owns 1,060 shares of the information services provider’s stock valued at $113,000 after purchasing an additional 690 shares during the last quarter. Mckinley Capital Management LLC Delaware bought a new position in shares of Verisign in the 4th quarter valued at about $177,000. Candriam Luxembourg S.C.A. bought a new position in shares of Verisign in the 4th quarter valued at about $208,000. Visionary Asset Management Inc. bought a new position in Verisign during the 3rd quarter worth approximately $200,000. Finally, Brightworth bought a new position in Verisign during the 3rd quarter worth approximately $213,000.
Verisign, Inc. (NASDAQ:VRSN) opened at $116.35 on Friday. Verisign, Inc. has a one year low of $81.58 and a one year high of $118.28. The firm has a market cap of $11,123.42, a P/E ratio of 31.40 and a beta of 0.92. 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 (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, February 8th. The information services provider reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.01). Verisign had a negative return on equity of 36.88% and a net margin of 39.25%. The firm had revenue of $295.50 million for the quarter, compared to the consensus estimate of $294.93 million. During the same period in the previous year, the business earned $0.92 EPS. The firm’s revenue was up 3.2% compared to the same quarter last year. analysts forecast that Verisign, Inc. will post 4.02 earnings per share for the current fiscal year.
Verisign declared that its board has authorized a stock repurchase program on Thursday, February 8th that permits the company to buyback $586.00 million in outstanding shares. This buyback authorization permits the information services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
Several research firms recently weighed in on VRSN. BidaskClub raised shares of Verisign from a “hold” rating to a “buy” rating in a research note on Saturday, February 10th. Cowen reissued a “hold” rating and set a $103.00 price objective 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 analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. Verisign currently has a consensus rating of “Hold” and an average target price of $106.33.
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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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