Today, State of Wisconsin Investment Board Reduces Stake in VeriSign Inc. (VRSN)

Today, State of Wisconsin Investment Board Reduces Stake in VeriSign Inc. (VRSN)
State of Wisconsin Investment Board cut its position in shares of VeriSign Inc. (NASDAQ:VRSN) by 4.1% during the third quarter, Holdings Channel reports. The firm owned 60,733 shares of the company’s stock after selling 2,600 shares during the period. State of Wisconsin Investment Board owned about 0.06% of VeriSign worth $4,752,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of VRSN. Global X Management Co. LLC raised its stake in VeriSign by 76.1% in the second quarter. Global X Management Co. LLC now owns 1,166 shares of the company’s stock worth $101,000 after buying an additional 504 shares during the period. Tower Research Capital LLC TRC raised its stake in VeriSign by 22.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,215 shares of the company’s stock worth $105,000 after buying an additional 220 shares during the period. Mizuho Asset Management Co. Ltd. raised its stake in VeriSign by 112.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,327 shares of the company’s stock worth $115,000 after buying an additional 701 shares during the period. Pinkerton Retirement Specialists LLC bought a new stake in VeriSign during the second quarter worth about $123,000. Finally, Quadrant Capital Group LLC raised its stake in VeriSign by 1.0% in the second quarter. Quadrant Capital Group LLC now owns 1,656 shares of the company’s stock worth $140,000 after buying an additional 17 shares during the period.

Shares of VeriSign Inc. (NASDAQ:VRSN) traded up 1.79% during midday trading on Friday, reaching $81.22. The company’s stock had a trading volume of 248,268 shares. The stock has a market capitalization of $8.49 billion, a P/E ratio of 24.33 and a beta of 1.23. VeriSign Inc. has a 12 month low of $70.26 and a 12 month high of $93.94. The stock’s 50-day moving average is $79.48 and its 200 day moving average is $81.15.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, October 27th. The company reported $0.93 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.06. The firm earned $287.60 million during the quarter, compared to analysts’ expectations of $287.08 million. VeriSign had a negative return on equity of 37.72% and a net margin of 38.69%. The business’s revenue for the quarter was up 8.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.78 earnings per share. On average, analysts expect that VeriSign Inc. will post $3.55 earnings per share for the current fiscal year.

A number of equities research analysts have recently issued reports on VRSN shares. Zacks Investment Research upgraded VeriSign from a “hold” rating to a “buy” rating and set a $91.00 target price for the company in a research note on Monday, October 24th. Cowen and Company reiterated a “market perform” rating and issued a $80.00 target price on shares of VeriSign in a research note on Tuesday, September 6th. Citigroup Inc. reiterated a “sell” rating and issued a $70.00 target price on shares of VeriSign in a research note on Friday, September 23rd. Finally, JPMorgan Chase & Co. raised their price objective on VeriSign from $84.00 to $88.00 and gave the company an “underweight” rating in a research note on Friday, July 29th.

About VeriSign

VeriSign, Inc is a provider of domain name registry services and Internet security, enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world (Registry Services). The Company operates in Registry Services and Security Services segment. Its product suite also includes Security Services consisting of Distributed Denial of Service (DDoS) Protection Services, Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services.

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