Verisign, Inc. (VRSN) Stake Lessened by Appleton Partners Inc. MA
Appleton Partners Inc. MA lowered its position in shares of Verisign, Inc. (NASDAQ:VRSN) by 2.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,089 shares of the information services provider’s stock after selling 660 shares during the quarter. Appleton Partners Inc. MA’s holdings in Verisign were worth $2,757,000 as of its most recent SEC filing.
Several other hedge funds have also recently added to or reduced their stakes in the company. Grove Bank & Trust grew its position in Verisign by 186.5% during the third 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. grew its position in Verisign by 21.9% during 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 purchasing an additional 255 shares in the last quarter. Acrospire Investment Management LLC grew its position in Verisign by 128.6% during the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the information services provider’s stock valued at $149,000 after purchasing an additional 900 shares in the last quarter. Visionary Asset Management Inc. purchased a new position in Verisign during the third quarter valued at approximately $200,000. Finally, Brightworth bought a new stake in Verisign in the third quarter worth approximately $213,000.
Verisign, Inc. (VRSN) traded up $1.23 during mid-day trading on Friday, reaching $113.46. 291,772 shares of the company’s stock traded hands, compared to its average volume of 842,000. The company has a debt-to-equity ratio of -1.45, a current ratio of 1.57 and a quick ratio of 1.57. The company has a market capitalization of $11,160.00, a P/E ratio of 30.66 and a beta of 1.04. Verisign, Inc. has a 12 month low of $79.21 and a 12 month high of $118.28.
Verisign (NASDAQ:VRSN) last posted its earnings results on Thursday, October 26th. The information services provider reported $1.00 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.97 by $0.03. The company had revenue of $292.40 million during the quarter, compared to the consensus estimate of $290.90 million. Verisign had a net margin of 39.79% and a negative return on equity of 36.88%. The company’s revenue for the quarter was up 1.7% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.93 earnings per share. sell-side analysts expect that Verisign, Inc. will post 3.65 earnings per share for the current fiscal year.
VRSN has been the subject of several recent research reports. Robert W. Baird set a $105.00 target price on shares of Verisign and gave the stock a “hold” rating in a research report on Friday, October 6th. BidaskClub downgraded shares of Verisign from a “buy” rating to a “hold” rating in a research report on Thursday. Zacks Investment Research raised shares of Verisign from a “sell” rating to a “hold” rating in a research report on Tuesday, December 26th. Cowen reissued a “hold” rating and issued a $103.00 target price on shares of Verisign in a research report on Sunday, October 29th. Finally, Citigroup boosted their target price on shares of Verisign from $101.00 to $111.00 and gave the stock a “neutral” rating in a research report on Friday, October 27th. Five investment analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $106.33.
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Verisign Company Profile
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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