Pitcairn Co. Has $585,000 Stake in Verisign, Inc. (VRSN)

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Pitcairn Co. lowered its stake in shares of Verisign, Inc. (NASDAQ:VRSN) by 7.8% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 3,651 shares of the information services provider’s stock after selling 307 shares during the quarter. Pitcairn Co.’s holdings in Verisign were worth $585,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Nomura Holdings Inc. increased its position in shares of Verisign by 32.7% during the 2nd quarter. Nomura Holdings Inc. now owns 22,102 shares of the information services provider’s stock valued at $3,037,000 after purchasing an additional 5,452 shares during the last quarter. Schroder Investment Management Group boosted its holdings in Verisign by 4.8% during the 2nd quarter. Schroder Investment Management Group now owns 839,617 shares of the information services provider’s stock valued at $64,137,000 after acquiring an additional 38,232 shares during the period. Cubist Systematic Strategies LLC boosted its holdings in Verisign by 38.0% during the 2nd quarter. Cubist Systematic Strategies LLC now owns 11,157 shares of the information services provider’s stock valued at $1,533,000 after acquiring an additional 3,072 shares during the period. First Trust Advisors LP boosted its holdings in Verisign by 3.1% during the 3rd quarter. First Trust Advisors LP now owns 1,822,904 shares of the information services provider’s stock valued at $291,883,000 after acquiring an additional 54,837 shares during the period. Finally, Securian Asset Management Inc boosted its holdings in Verisign by 16.7% during the 2nd quarter. Securian Asset Management Inc now owns 9,930 shares of the information services provider’s stock valued at $1,365,000 after acquiring an additional 1,420 shares during the period. 93.51% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts recently issued reports on the company. BidaskClub cut Verisign from a “buy” rating to a “hold” rating in a report on Wednesday, August 1st. Robert W. Baird restated a “hold” rating and set a $160.00 price objective on shares of Verisign in a report on Friday, July 27th. Citigroup boosted their price objective on Verisign from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, November 2nd. Cowen restated a “hold” rating and set a $155.00 price objective on shares of Verisign in a report on Friday, July 27th. Finally, JPMorgan Chase & Co. upgraded Verisign from an “underweight” rating to a “neutral” rating and boosted their price objective for the company from $125.00 to $160.00 in a report on Friday, November 2nd. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Verisign currently has an average rating of “Hold” and an average target price of $154.40.

Shares of VRSN stock opened at $157.76 on Wednesday. Verisign, Inc. has a twelve month low of $105.40 and a twelve month high of $176.76. The firm has a market capitalization of $19.95 billion, a price-to-earnings ratio of 42.87 and a beta of 0.98.

Verisign (NASDAQ:VRSN) last issued its earnings results on Thursday, October 25th. The information services provider reported $1.23 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.10 by $0.13. Verisign had a negative return on equity of 38.09% and a net margin of 41.82%. The business had revenue of $305.78 million during the quarter, compared to analysts’ expectations of $305.25 million. As a group, sell-side analysts predict that Verisign, Inc. will post 4.37 earnings per share for the current fiscal year.

In other Verisign news, Director Kathleen A. Cote sold 2,384 shares of the company’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $160.50, for a total value of $382,632.00. Following the completion of the sale, the director now directly owns 37,594 shares in the company, valued at approximately $6,033,837. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 1.35% of the stock is currently owned by corporate insiders.

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Verisign Profile

VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.

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Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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