Chicago Equity Partners LLC Sells 65,230 Shares of VeriSign, Inc. (VRSN)
Chicago Equity Partners LLC cut its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 30.2% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 150,990 shares of the information services provider’s stock after selling 65,230 shares during the period. Chicago Equity Partners LLC owned 0.15% of VeriSign worth $16,064,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of VeriSign by 21.9% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,420 shares of the information services provider’s stock valued at $133,000 after buying an additional 255 shares during the last quarter. Acrospire Investment Management LLC lifted its position in shares of VeriSign by 128.6% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the information services provider’s stock valued at $149,000 after buying an additional 900 shares during the last quarter. Global X Management Co. LLC lifted its position in shares of VeriSign by 13.4% in the second quarter. Global X Management Co. LLC now owns 1,632 shares of the information services provider’s stock valued at $152,000 after buying an additional 193 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its position in shares of VeriSign by 2.1% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 2,086 shares of the information services provider’s stock valued at $194,000 after buying an additional 42 shares during the last quarter. Finally, Hikari Power Ltd acquired a new stake in shares of VeriSign in the second quarter valued at approximately $207,000.
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In other news, Director Kathleen A. Cote sold 1,500 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $99.94, for a total transaction of $149,910.00. Following the transaction, the director now owns 38,294 shares in the company, valued at $3,827,102.36. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 1.02% of the stock is currently owned by company insiders.
VRSN has been the subject of a number of recent analyst reports. Citigroup Inc. raised their price objective on VeriSign from $101.00 to $111.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Robert W. Baird reaffirmed a “hold” rating and issued a $105.00 price objective on shares of VeriSign in a research report on Thursday, August 31st. BidaskClub raised VeriSign from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Zacks Investment Research cut VeriSign from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Finally, Cowen and Company reaffirmed a “hold” rating and issued a $103.00 price objective on shares of VeriSign in a research report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the stock. VeriSign has an average rating of “Hold” and an average target price of $106.33.
Shares of VeriSign, Inc. (VRSN) traded up $1.00 during midday trading on Monday, hitting $109.49. The stock had a trading volume of 114,009 shares, compared to its average volume of 832,097. The company has a market capitalization of $10,693.87, a price-to-earnings ratio of 30.30 and a beta of 1.03. The company has a debt-to-equity ratio of -1.45, a quick ratio of 1.57 and a current ratio of 1.57. VeriSign, Inc. has a one year low of $75.71 and a one year high of $110.82.
VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, October 26th. The information services provider reported $1.00 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.97 by $0.03. The company had revenue of $292.40 million for the quarter, compared to analyst estimates of $290.90 million. VeriSign had a negative return on equity of 36.88% and a net margin of 39.79%. The firm’s quarterly revenue was up 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $0.93 earnings per share. research analysts predict that VeriSign, Inc. will post 3.65 earnings per share for the current fiscal year.
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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