Raymond James Financial Services Advisors Inc. Buys 299 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Raymond James Financial Services Advisors Inc. grew its holdings in shares of VeriSign, Inc. (NASDAQ:VRSNFree Report) by 10.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,094 shares of the information services provider’s stock after purchasing an additional 299 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in VeriSign were worth $699,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Resurgent Financial Advisors LLC acquired a new stake in shares of VeriSign during the 4th quarter valued at about $25,000. IFP Advisors Inc lifted its stake in VeriSign by 88.8% in the 1st quarter. IFP Advisors Inc now owns 708 shares of the information services provider’s stock worth $28,000 after purchasing an additional 333 shares in the last quarter. Eagle Bay Advisors LLC lifted its stake in VeriSign by 2,628.6% in the 2nd quarter. Eagle Bay Advisors LLC now owns 191 shares of the information services provider’s stock worth $32,000 after purchasing an additional 184 shares in the last quarter. Altshuler Shaham Ltd purchased a new stake in shares of VeriSign during the 4th quarter valued at approximately $36,000. Finally, Ten Capital Wealth Advisors LLC purchased a new stake in shares of VeriSign during the 1st quarter valued at approximately $37,000. Hedge funds and other institutional investors own 90.95% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on VRSN shares. Citigroup dropped their price target on shares of VeriSign from $252.00 to $249.00 and set a “buy” rating for the company in a research note on Monday, July 24th. StockNews.com downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a research note on Thursday, October 26th. Finally, Robert W. Baird downgraded shares of VeriSign from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $265.00 to $245.00 in a research note on Tuesday, July 11th.

Check Out Our Latest Research Report on VRSN

VeriSign Trading Up 2.9 %

NASDAQ:VRSN opened at $198.13 on Tuesday. VeriSign, Inc. has a twelve month low of $175.20 and a twelve month high of $229.72. The firm has a market capitalization of $20.23 billion, a price-to-earnings ratio of 28.22 and a beta of 0.96. The firm’s fifty day simple moving average is $204.58 and its 200 day simple moving average is $213.06.

VeriSign (NASDAQ:VRSNGet Free Report) last announced its quarterly earnings data on Thursday, October 26th. The information services provider reported $1.83 earnings per share for the quarter, beating analysts’ consensus estimates of $1.74 by $0.09. VeriSign had a net margin of 49.38% and a negative return on equity of 45.68%. The business had revenue of $376.30 million during the quarter, compared to the consensus estimate of $378.31 million. During the same quarter in the prior year, the firm earned $1.58 EPS. The company’s revenue for the quarter was up 5.4% compared to the same quarter last year. On average, analysts predict that VeriSign, Inc. will post 7.02 earnings per share for the current year.

Insider Activity

In other VeriSign news, EVP Thomas C. Indelicarto sold 614 shares of the company’s stock in a transaction that occurred on Tuesday, August 8th. The shares were sold at an average price of $204.92, for a total value of $125,820.88. Following the transaction, the executive vice president now owns 38,657 shares in the company, valued at approximately $7,921,592.44. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, EVP Thomas C. Indelicarto sold 614 shares of the company’s stock in a transaction on Tuesday, August 8th. The shares were sold at an average price of $204.92, for a total transaction of $125,820.88. Following the completion of the sale, the executive vice president now directly owns 38,657 shares of the company’s stock, valued at approximately $7,921,592.44. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Danny R. Mcpherson sold 125 shares of the stock in a transaction on Tuesday, August 15th. The shares were sold at an average price of $207.96, for a total transaction of $25,995.00. Following the completion of the sale, the executive vice president now directly owns 25,788 shares of the company’s stock, valued at $5,362,872.48. The disclosure for this sale can be found here. Insiders have sold 3,239 shares of company stock worth $663,391 over the last 90 days. 0.94% of the stock is owned by company insiders.

About VeriSign

(Free Report)

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.

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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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