Boston Financial Mangement LLC Has $34.08 Million Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Boston Financial Mangement LLC trimmed its stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 6.4% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 191,652 shares of the information services provider's stock after selling 13,066 shares during the period. VeriSign comprises approximately 1.1% of Boston Financial Mangement LLC's investment portfolio, making the stock its 29th biggest position. Boston Financial Mangement LLC owned approximately 0.20% of VeriSign worth $34,076,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of VRSN. Norges Bank acquired a new stake in shares of VeriSign during the fourth quarter worth $207,161,000. TD Asset Management Inc raised its position in shares of VeriSign by 94.7% in the 1st quarter. TD Asset Management Inc now owns 643,173 shares of the information services provider's stock worth $121,888,000 after acquiring an additional 312,882 shares in the last quarter. Epoch Investment Partners Inc. raised its position in shares of VeriSign by 245.4% in the 1st quarter. Epoch Investment Partners Inc. now owns 334,652 shares of the information services provider's stock worth $63,420,000 after acquiring an additional 237,770 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in shares of VeriSign by 38.9% in the 1st quarter. BNP Paribas Financial Markets now owns 546,308 shares of the information services provider's stock valued at $103,531,000 after purchasing an additional 153,035 shares during the period. Finally, Hsbc Holdings PLC boosted its position in shares of VeriSign by 59.2% during the 4th quarter. Hsbc Holdings PLC now owns 316,132 shares of the information services provider's stock valued at $64,987,000 after purchasing an additional 117,597 shares in the last quarter. 92.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the company. Robert W. Baird reiterated a "neutral" rating and issued a $200.00 target price on shares of VeriSign in a report on Thursday, June 27th. StockNews.com lowered shares of VeriSign from a "buy" rating to a "hold" rating in a research note on Sunday, June 16th.

VeriSign Price Performance

Shares of VRSN traded up $1.90 during trading hours on Friday, hitting $183.90. The stock had a trading volume of 661,519 shares, compared to its average volume of 672,844. VeriSign, Inc. has a 1-year low of $167.04 and a 1-year high of $220.91. The firm has a market capitalization of $18.32 billion, a P/E ratio of 22.59 and a beta of 0.90. The firm has a 50 day simple moving average of $178.88 and a 200-day simple moving average of $181.66.

VeriSign (NASDAQ:VRSN - Get Free Report) last announced its quarterly earnings results on Thursday, July 25th. The information services provider reported $2.01 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.93 by $0.08. The business had revenue of $387.10 million for the quarter, compared to analyst estimates of $385.80 million. VeriSign had a negative return on equity of 46.63% and a net margin of 55.40%. The company's quarterly revenue was up 4.1% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.79 earnings per share.

Insider Activity at VeriSign

In other VeriSign news, EVP Thomas C. Indelicarto sold 3,684 shares of the company's stock in a transaction on Monday, July 29th. The shares were sold at an average price of $190.00, for a total transaction of $699,960.00. Following the transaction, the executive vice president now owns 37,774 shares in the company, valued at $7,177,060. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.84% of the stock is currently owned by insiders.

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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