Illinois Municipal Retirement Fund reduced its stake in shares of VeriSign, Inc. (NASDAQ:VRSN – Free Report) by 26.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 60,313 shares of the information services provider’s stock after selling 21,648 shares during the quarter. Illinois Municipal Retirement Fund owned approximately 0.06% of VeriSign worth $12,482,000 at the end of the most recent quarter.
A number of other large investors have also recently made changes to their positions in the stock. Empirical Finance LLC boosted its stake in shares of VeriSign by 1.9% during the third quarter. Empirical Finance LLC now owns 3,038 shares of the information services provider’s stock valued at $577,000 after purchasing an additional 57 shares during the period. West Family Investments Inc. boosted its stake in shares of VeriSign by 3.9% during the third quarter. West Family Investments Inc. now owns 1,537 shares of the information services provider’s stock valued at $292,000 after purchasing an additional 57 shares during the period. CX Institutional boosted its stake in shares of VeriSign by 5.1% during the fourth quarter. CX Institutional now owns 1,173 shares of the information services provider’s stock valued at $243,000 after purchasing an additional 57 shares during the period. Patriot Financial Group Insurance Agency LLC boosted its stake in shares of VeriSign by 5.5% during the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 1,429 shares of the information services provider’s stock valued at $296,000 after purchasing an additional 74 shares during the period. Finally, Keystone Financial Services boosted its stake in shares of VeriSign by 7.6% during the fourth quarter. Keystone Financial Services now owns 1,137 shares of the information services provider’s stock valued at $235,000 after purchasing an additional 80 shares during the period. 92.90% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at VeriSign
In other VeriSign news, SVP John Calys sold 447 shares of the stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $231.75, for a total transaction of $103,592.25. Following the completion of the sale, the senior vice president now directly owns 23,735 shares of the company’s stock, valued at approximately $5,500,586.25. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Danny R. Mcpherson sold 2,092 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $192.43, for a total transaction of $402,563.56. Following the sale, the executive vice president now directly owns 26,157 shares of the company’s stock, valued at approximately $5,033,391.51. The trade was a 7.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.84% of the company’s stock.
VeriSign Price Performance
VeriSign (NASDAQ:VRSN – Get Free Report) last released its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 EPS for the quarter, meeting the consensus estimate of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%.
Wall Street Analysts Forecast Growth
A number of analysts have recently issued reports on VRSN shares. Robert W. Baird raised shares of VeriSign from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $200.00 to $250.00 in a research note on Monday, December 9th. Baird R W raised shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Citigroup upped their price objective on shares of VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, StockNews.com raised shares of VeriSign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th.
Read Our Latest Stock Analysis on VeriSign
VeriSign 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.
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