Wealth Enhancement Advisory Services LLC Buys New Holdings in Verisign, Inc. (VRSN)

Wealth Enhancement Advisory Services LLC purchased a new position in Verisign, Inc. (NASDAQ:VRSN) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,311 shares of the information services provider’s stock, valued at approximately $1,171,000.

Several other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. grew its stake in shares of Verisign by 3.4% in the second quarter. Vanguard Group Inc. now owns 8,782,015 shares of the information services provider’s stock worth $816,376,000 after acquiring an additional 292,054 shares during the period. Renaissance Technologies LLC grew its stake in shares of Verisign by 22.9% in the second quarter. Renaissance Technologies LLC now owns 5,045,476 shares of the information services provider’s stock worth $469,027,000 after acquiring an additional 941,100 shares during the period. Principal Financial Group Inc. grew its stake in shares of Verisign by 5.7% in the third quarter. Principal Financial Group Inc. now owns 3,457,625 shares of the information services provider’s stock worth $367,857,000 after acquiring an additional 187,012 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in shares of Verisign by 84.6% in the second quarter. Arrowstreet Capital Limited Partnership now owns 1,458,379 shares of the information services provider’s stock worth $135,571,000 after acquiring an additional 668,211 shares during the period. Finally, Northern Trust Corp grew its stake in shares of Verisign by 0.3% in the second quarter. Northern Trust Corp now owns 1,248,319 shares of the information services provider’s stock worth $116,042,000 after acquiring an additional 3,376 shares during the period.

Shares of Verisign, Inc. (NASDAQ:VRSN) opened at $114.48 on Friday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of -1.45. The stock has a market cap of $11,290.22, a P/E ratio of 31.99 and a beta of 1.04. Verisign, Inc. has a 12-month low of $79.21 and a 12-month high of $118.28.

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

A number of analysts have recently commented on the stock. BidaskClub lowered shares of Verisign from a “buy” rating to a “hold” rating in a research note on Thursday, January 11th. Robert W. Baird set a $105.00 target price on shares of Verisign and gave the company a “hold” rating in a research report on Friday, October 6th. Cowen restated a “hold” rating and set a $103.00 target price on shares of Verisign in a research report on Sunday, October 29th. Zacks Investment Research lowered shares of Verisign from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Finally, Citigroup boosted their target price 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. Five research analysts have rated the stock with a hold rating, The company presently has a consensus rating of “Hold” and an average target price of $106.33.

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About Verisign

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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