PNC Financial Services Group Inc. Lowers Holdings in VeriSign, Inc. (NASDAQ:VRSN)

PNC Financial Services Group Inc. reduced its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 4.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 11,046 shares of the information services provider’s stock after selling 523 shares during the period. PNC Financial Services Group Inc.’s holdings in VeriSign were worth $2,098,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of VeriSign during the third quarter worth $392,000. Mawer Investment Management Ltd. raised its position in VeriSign by 3.2% in the 3rd quarter. Mawer Investment Management Ltd. now owns 64,361 shares of the information services provider’s stock valued at $12,226,000 after purchasing an additional 2,008 shares in the last quarter. Quest Partners LLC raised its position in VeriSign by 32.2% in the 3rd quarter. Quest Partners LLC now owns 12,416 shares of the information services provider’s stock valued at $2,359,000 after purchasing an additional 3,027 shares in the last quarter. Thrivent Financial for Lutherans grew its position in shares of VeriSign by 11.8% during the third quarter. Thrivent Financial for Lutherans now owns 75,740 shares of the information services provider’s stock worth $14,388,000 after buying an additional 7,988 shares in the last quarter. Finally, Claro Advisors LLC purchased a new stake in shares of VeriSign during the third quarter worth approximately $324,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

VeriSign Stock Up 0.6 %

Shares of NASDAQ:VRSN opened at $181.91 on Tuesday. VeriSign, Inc. has a fifty-two week low of $167.04 and a fifty-two week high of $220.91. The firm’s 50 day moving average price is $183.83 and its 200 day moving average price is $180.17. The stock has a market cap of $17.48 billion, a price-to-earnings ratio of 21.15 and a beta of 0.91.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, October 24th. The information services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.06. The business had revenue of $390.60 million for the quarter, compared to analyst estimates of $390.19 million. VeriSign had a net margin of 55.74% and a negative return on equity of 45.59%. The company’s revenue was up 3.8% on a year-over-year basis. During the same period last year, the business earned $1.83 EPS.

Insiders Place Their Bets

In other VeriSign news, EVP Thomas C. Indelicarto sold 1,228 shares of the stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $190.00, for a total value of $233,320.00. Following the transaction, the executive vice president now directly owns 33,593 shares in the company, valued at $6,382,670. This represents a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.84% of the stock is owned by company insiders.

VeriSign Company Profile

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 thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.