Sterling Capital Management LLC Buys 1,585 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Sterling Capital Management LLC lifted its position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 50.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 4,714 shares of the information services provider's stock after purchasing an additional 1,585 shares during the quarter. Sterling Capital Management LLC's holdings in VeriSign were worth $976,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of VRSN. MML Investors Services LLC raised its stake in shares of VeriSign by 602.6% during the third quarter. MML Investors Services LLC now owns 11,712 shares of the information services provider's stock valued at $2,225,000 after purchasing an additional 10,045 shares during the period. Te Ahumairangi Investment Management Ltd boosted its position in VeriSign by 5.7% in the 3rd quarter. Te Ahumairangi Investment Management Ltd now owns 69,175 shares of the information services provider's stock valued at $13,066,000 after buying an additional 3,760 shares during the last quarter. Wilmington Savings Fund Society FSB purchased a new stake in shares of VeriSign during the third quarter worth about $130,000. Tidal Investments LLC lifted its stake in shares of VeriSign by 54.8% in the third quarter. Tidal Investments LLC now owns 27,175 shares of the information services provider's stock worth $5,162,000 after acquiring an additional 9,619 shares in the last quarter. Finally, Tri Ri Asset Management Corp acquired a new stake in VeriSign during the 3rd quarter valued at approximately $5,204,000. Hedge funds and other institutional investors own 92.90% of the company's stock.

VeriSign Stock Up 0.3 %

Shares of NASDAQ:VRSN traded up $0.74 during trading on Friday, hitting $246.67. 628,305 shares of the company traded hands, compared to its average volume of 745,039. The business's fifty day moving average is $240.81 and its 200-day moving average is $211.57. The stock has a market capitalization of $23.22 billion, a price-to-earnings ratio of 30.83 and a beta of 0.87. VeriSign, Inc. has a one year low of $167.05 and a one year high of $258.67.

VeriSign (NASDAQ:VRSN - Get Free Report) last issued its earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, hitting the consensus estimate of $2.00. VeriSign had a negative return on equity of 43.01% and a net margin of 50.47%.

Insiders Place Their Bets

In related 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 value of $103,592.25. Following the completion of the transaction, the senior vice president now owns 23,735 shares of the company's stock, valued at approximately $5,500,586.25. This trade represents a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 0.84% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on VRSN shares. Citigroup raised their price target on shares of VeriSign from $246.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. StockNews.com raised VeriSign from a "hold" rating to a "buy" rating in a report on Saturday, April 12th. Finally, Robert W. Baird boosted their price target on VeriSign from $255.00 to $275.00 and gave the company an "outperform" rating in a report on Tuesday, April 1st.

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.