Oregon Public Employees Retirement Fund Cuts Stake in VeriSign, Inc. (NASDAQ:VRSN)

Oregon Public Employees Retirement Fund reduced its stake in shares of VeriSign, Inc. (NASDAQ:VRSNGet Rating) by 6.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 7,137 shares of the information services provider’s stock after selling 457 shares during the period. Oregon Public Employees Retirement Fund’s holdings in VeriSign were worth $1,240,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Lazard Asset Management LLC boosted its position in shares of VeriSign by 95.2% during the 2nd quarter. Lazard Asset Management LLC now owns 1,323,977 shares of the information services provider’s stock valued at $221,540,000 after acquiring an additional 645,843 shares during the last quarter. Great West Life Assurance Co. Can bought a new position in shares of VeriSign during the 3rd quarter valued at approximately $19,179,000. Baader Bank Aktiengesellschaft bought a new position in shares of VeriSign during the 2nd quarter valued at approximately $18,473,000. Invesco Ltd. boosted its position in shares of VeriSign by 9.4% during the 1st quarter. Invesco Ltd. now owns 1,171,136 shares of the information services provider’s stock valued at $260,531,000 after acquiring an additional 100,520 shares during the last quarter. Finally, Royal Bank of Canada boosted its position in shares of VeriSign by 16.4% during the 1st quarter. Royal Bank of Canada now owns 633,938 shares of the information services provider’s stock valued at $141,026,000 after acquiring an additional 89,119 shares during the last quarter. 91.21% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

VRSN has been the subject of a number of research reports. Citigroup initiated coverage on VeriSign in a research report on Tuesday, December 13th. They set a “buy” rating and a $243.00 target price for the company. StockNews.com started coverage on VeriSign in a research report on Wednesday, October 12th. They issued a “hold” rating for the company. Finally, Robert W. Baird upgraded VeriSign from a “neutral” rating to an “outperform” rating and raised their price target for the stock from $216.00 to $265.00 in a research report on Thursday, December 15th.

VeriSign Stock Up 1.5 %

Shares of VRSN opened at $214.91 on Monday. The company has a market cap of $22.78 billion, a PE ratio of 28.58 and a beta of 0.95. The business has a fifty day moving average of $202.55 and a 200 day moving average of $191.00. VeriSign, Inc. has a 52-week low of $155.25 and a 52-week high of $228.80.

VeriSign (NASDAQ:VRSNGet Rating) last issued its quarterly earnings results on Thursday, October 27th. The information services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.57 by $0.01. VeriSign had a negative return on equity of 47.71% and a net margin of 59.07%. The company had revenue of $357.00 million during the quarter, compared to the consensus estimate of $356.40 million. During the same period last year, the company earned $1.40 earnings per share. VeriSign’s revenue was up 6.9% on a year-over-year basis. As a group, research analysts anticipate that VeriSign, Inc. will post 6.08 earnings per share for the current fiscal year.

Insider Transactions at VeriSign

In other news, CEO D James Bidzos sold 2,000 shares of VeriSign stock in a transaction on Thursday, January 19th. The stock was sold at an average price of $211.73, for a total transaction of $423,460.00. Following the completion of the sale, the chief executive officer now directly owns 652,444 shares in the company, valued at $138,141,968.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CEO D James Bidzos sold 2,000 shares of VeriSign stock in a transaction on Thursday, January 19th. The stock was sold at an average price of $211.73, for a total transaction of $423,460.00. Following the completion of the sale, the chief executive officer now directly owns 652,444 shares in the company, valued at $138,141,968.12. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, EVP Thomas C. Indelicarto sold 613 shares of VeriSign stock in a transaction on Tuesday, November 1st. The stock was sold at an average price of $202.05, for a total value of $123,856.65. Following the sale, the executive vice president now owns 41,816 shares of the company’s stock, valued at $8,448,922.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 67,596 shares of company stock worth $13,989,196. 0.98% of the stock is currently owned by insiders.

VeriSign Company Profile

(Get Rating)

VeriSign, Inc provides domain name registry services and Internet infrastructure, which enables Internet navigation for many of the world’s most recognized domain names. It enables the security, stability, and resiliency of key Internet infrastructure and services, including providing root zone maintainer services.

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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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