Summit Global Investments Makes New $537,000 Investment in VeriSign, Inc. (NASDAQ:VRSN)

Summit Global Investments bought a new position in VeriSign, Inc. (NASDAQ:VRSN - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 2,593 shares of the information services provider's stock, valued at approximately $537,000.

Several other hedge funds have also modified their holdings of VRSN. Sequoia Financial Advisors LLC raised its stake in shares of VeriSign by 2.5% during the 4th quarter. Sequoia Financial Advisors LLC now owns 1,960 shares of the information services provider's stock worth $406,000 after acquiring an additional 48 shares in the last quarter. HighTower Advisors LLC lifted its holdings in shares of VeriSign by 1.8% during the 4th quarter. HighTower Advisors LLC now owns 3,256 shares of the information services provider's stock valued at $674,000 after purchasing an additional 56 shares during the last quarter. CX Institutional boosted its position in shares of VeriSign by 5.1% in the 4th quarter. CX Institutional now owns 1,173 shares of the information services provider's stock worth $243,000 after purchasing an additional 57 shares in the last quarter. Whittier Trust Co. of Nevada Inc. grew its stake in VeriSign by 4.6% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,469 shares of the information services provider's stock worth $304,000 after buying an additional 64 shares during the last quarter. Finally, Patriot Financial Group Insurance Agency LLC increased its position in VeriSign by 5.5% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,429 shares of the information services provider's stock valued at $296,000 after buying an additional 74 shares in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

VRSN has been the topic of a number of research analyst reports. Citigroup boosted their price target on VeriSign from $246.00 to $250.00 and gave the stock a "buy" rating in a research note on Tuesday, February 4th. Robert W. Baird upgraded shares of VeriSign from a "neutral" rating to an "outperform" rating and lifted their price objective for the stock from $200.00 to $250.00 in a research note on Monday, December 9th. StockNews.com lowered shares of VeriSign from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Finally, Baird R W upgraded VeriSign from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th.

VeriSign Trading Down 1.5 %

Shares of VRSN stock traded down $3.82 during trading hours on Friday, hitting $250.92. The company's stock had a trading volume of 746,822 shares, compared to its average volume of 722,364. The stock has a market cap of $23.74 billion, a PE ratio of 31.37 and a beta of 0.87. VeriSign, Inc. has a 12-month low of $167.05 and a 12-month high of $256.45. The company has a 50 day moving average of $229.56 and a 200 day moving average of $203.91.

VeriSign (NASDAQ:VRSN - Get Free Report) last posted 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%.

Insider Activity at VeriSign

In other news, SVP John Calys sold 447 shares of the firm's stock in a transaction that occurred on Monday, February 24th. The shares were sold at an average price of $231.75, for a total transaction of $103,592.25. Following the sale, the senior vice president now owns 23,735 shares of the company's stock, valued at $5,500,586.25. This trade represents a 1.85 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.