Russell Investments Group Ltd. Has $5.62 Million Stake in Verisign, Inc. (VRSN)
Russell Investments Group Ltd. lessened its stake in Verisign, Inc. (NASDAQ:VRSN) by 23.0% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 52,771 shares of the information services provider’s stock after selling 15,753 shares during the quarter. Russell Investments Group Ltd. owned 0.05% of Verisign worth $5,615,000 as of its most recent SEC filing.
Several other hedge funds also recently modified their holdings of the company. Sei Investments Co. raised its holdings in Verisign by 29.1% in the 2nd quarter. Sei Investments Co. now owns 11,206 shares of the information services provider’s stock worth $1,041,000 after purchasing an additional 2,527 shares during the period. Global X Management Co. LLC raised its holdings in Verisign by 13.4% in the 2nd quarter. Global X Management Co. LLC now owns 1,632 shares of the information services provider’s stock worth $152,000 after purchasing an additional 193 shares during the period. Cigna Investments Inc. New acquired a new position in Verisign in the 2nd quarter worth about $333,000. Schwab Charles Investment Management Inc. raised its holdings in Verisign by 25.4% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 576,347 shares of the information services provider’s stock worth $53,578,000 after purchasing an additional 116,615 shares during the period. Finally, DekaBank Deutsche Girozentrale raised its holdings in Verisign by 203.8% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 41,992 shares of the information services provider’s stock worth $3,964,000 after purchasing an additional 28,169 shares during the period.
Verisign, Inc. (VRSN) opened at $114.32 on Tuesday. Verisign, Inc. has a fifty-two week low of $75.71 and a fifty-two week high of $118.28. The company has a market capitalization of $11,136.45, a P/E ratio of 31.56 and a beta of 1.03. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of -1.45.
Verisign (NASDAQ:VRSN) last announced its earnings results on Thursday, October 26th. The information services provider reported $1.00 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $0.03. Verisign had a negative return on equity of 36.88% and a net margin of 39.79%. The business had revenue of $292.40 million during the quarter, compared to analysts’ expectations of $290.90 million. During the same quarter in the prior year, the firm earned $0.93 earnings per share. The business’s revenue was up 1.7% compared to the same quarter last year. equities research analysts expect that Verisign, Inc. will post 3.65 EPS for the current fiscal year.
A number of equities analysts have commented on VRSN shares. Robert W. Baird reissued a “hold” rating and set a $105.00 target price on shares of Verisign in a report on Thursday, August 31st. BidaskClub raised Verisign from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 26th. Zacks Investment Research cut Verisign from a “hold” rating to a “sell” rating in a report on Wednesday, November 1st. Cowen reissued a “hold” rating and set a $103.00 target price on shares of Verisign in a report on Sunday, October 29th. Finally, Citigroup increased their target price on Verisign from $101.00 to $111.00 and gave the company a “neutral” rating in a report on Friday, October 27th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $106.33.
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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