Manning & Napier Advisors LLC Lowers Holdings in VeriSign, Inc. (VRSN)

Manning & Napier Advisors LLC trimmed its stake in VeriSign, Inc. (NASDAQ:VRSN) by 33.0% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,145 shares of the information services provider’s stock after selling 15,325 shares during the period. Manning & Napier Advisors LLC’s holdings in VeriSign were worth $3,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. boosted its position in VeriSign by 21.9% in the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 1,420 shares of the information services provider’s stock valued at $133,000 after buying an additional 255 shares during the period. Acrospire Investment Management LLC boosted its position in VeriSign by 128.6% in the 2nd quarter. Acrospire Investment Management LLC now owns 1,600 shares of the information services provider’s stock valued at $149,000 after buying an additional 900 shares during the period. Global X Management Co. LLC boosted its position in VeriSign by 13.4% in the 2nd quarter. Global X Management Co. LLC now owns 1,632 shares of the information services provider’s stock valued at $152,000 after buying an additional 193 shares during the period. Whittier Trust Co. of Nevada Inc. boosted its position in VeriSign by 2.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,086 shares of the information services provider’s stock valued at $194,000 after buying an additional 42 shares during the period. Finally, Hikari Power Ltd purchased a new stake in VeriSign in the 2nd quarter valued at about $207,000.

In other news, Director Kathleen A. Cote sold 1,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $99.94, for a total value of $149,910.00. Following the completion of the sale, the director now owns 38,294 shares of the company’s stock, valued at approximately $3,827,102.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.02% of the stock is currently owned by corporate insiders.

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Shares of VeriSign, Inc. (VRSN) traded up $0.78 on Monday, hitting $113.75. 2,331,800 shares of the stock traded hands, compared to its average volume of 800,609. VeriSign, Inc. has a 52-week low of $75.71 and a 52-week high of $114.00. The stock has a market cap of $11,210.00, a PE ratio of 31.77 and a beta of 1.03. The company has a debt-to-equity ratio of -1.45, a current ratio of 1.57 and a quick ratio of 1.57.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, October 26th. The information services provider reported $1.00 earnings per share for the quarter, topping the consensus estimate of $0.97 by $0.03. VeriSign had a net margin of 39.79% and a negative return on equity of 36.88%. The firm had revenue of $292.40 million during the quarter, compared to analysts’ expectations of $290.90 million. During the same quarter in the prior year, the company earned $0.93 EPS. The company’s revenue was up 1.7% compared to the same quarter last year. equities analysts expect that VeriSign, Inc. will post 3.65 earnings per share for the current fiscal year.

Several research firms have issued reports on VRSN. Robert W. Baird set a $105.00 price objective on shares of VeriSign and gave the company a “hold” rating in a research report on Friday, October 6th. Citigroup Inc. boosted their price objective on shares of VeriSign from $101.00 to $111.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Cowen and Company reissued a “hold” rating and issued a $103.00 price objective on shares of VeriSign in a research report on Sunday, October 29th. Zacks Investment Research cut shares of VeriSign from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Finally, BidaskClub raised shares of VeriSign from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. One analyst has rated the stock with a sell rating, three have given a hold rating and one has issued a strong buy rating to the company. VeriSign has a consensus rating of “Hold” and an average price target of $106.33.

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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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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