Sentry Investment Management LLC Cuts Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Sentry Investment Management LLC lessened its position in VeriSign, Inc. (NASDAQ:VRSNFree Report) by 15.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 521 shares of the information services provider’s stock after selling 93 shares during the quarter. Sentry Investment Management LLC’s holdings in VeriSign were worth $106,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. American Century Companies Inc. boosted its position in shares of VeriSign by 22.9% in the 1st quarter. American Century Companies Inc. now owns 2,956 shares of the information services provider’s stock valued at $657,000 after purchasing an additional 551 shares during the period. Cetera Advisor Networks LLC boosted its position in shares of VeriSign by 10.4% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,425 shares of the information services provider’s stock valued at $317,000 after purchasing an additional 134 shares during the period. Synovus Financial Corp acquired a new stake in shares of VeriSign in the 1st quarter valued at about $767,000. Sei Investments Co. boosted its position in shares of VeriSign by 15.4% in the 1st quarter. Sei Investments Co. now owns 12,329 shares of the information services provider’s stock valued at $2,725,000 after purchasing an additional 1,641 shares during the period. Finally, Canada Pension Plan Investment Board boosted its position in shares of VeriSign by 14.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 35,029 shares of the information services provider’s stock valued at $7,793,000 after purchasing an additional 4,545 shares during the period. Hedge funds and other institutional investors own 90.95% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a research report on Friday, December 8th.

Read Our Latest Stock Analysis on VeriSign

Insider Activity

In other news, Director Timothy Tomlinson sold 589 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The stock was sold at an average price of $195.85, for a total value of $115,355.65. Following the completion of the sale, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,937,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other VeriSign news, EVP Danny R. Mcpherson sold 125 shares of the firm’s stock in a transaction on Wednesday, November 1st. The stock was sold at an average price of $200.33, for a total transaction of $25,041.25. Following the completion of the transaction, the executive vice president now owns 24,771 shares of the company’s stock, valued at $4,962,374.43. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Timothy Tomlinson sold 589 shares of the firm’s stock in a transaction on Monday, October 30th. The stock was sold at an average price of $195.85, for a total value of $115,355.65. Following the transaction, the director now directly owns 15,000 shares of the company’s stock, valued at approximately $2,937,750. The disclosure for this sale can be found here. Insiders sold 45,178 shares of company stock valued at $9,469,966 in the last three months. 0.94% of the stock is currently owned by company insiders.

VeriSign Stock Performance

VeriSign stock traded down $1.12 during mid-day trading on Friday, reaching $201.92. 114,191 shares of the company were exchanged, compared to its average volume of 403,998. VeriSign, Inc. has a twelve month low of $188.44 and a twelve month high of $229.72. The firm’s 50-day simple moving average is $207.96 and its two-hundred day simple moving average is $206.82. The firm has a market cap of $20.62 billion, a PE ratio of 28.81 and a beta of 0.93.

VeriSign (NASDAQ:VRSNGet Free Report) last posted its quarterly earnings results on Thursday, October 26th. The information services provider reported $1.83 EPS for the quarter, beating the consensus estimate of $1.74 by $0.09. The business had revenue of $376.30 million during the quarter, compared to analysts’ expectations of $378.31 million. VeriSign had a negative return on equity of 45.68% and a net margin of 49.38%. The company’s quarterly revenue was up 5.4% compared to the same quarter last year. During the same period last year, the firm earned $1.58 EPS. As a group, equities research analysts anticipate that VeriSign, Inc. will post 7.15 EPS for the current year.

VeriSign Company Profile

(Free Report)

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 the 13 internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.

See Also

Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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