2,593 Shares in VeriSign, Inc. (NASDAQ:VRSN) Bought by Summit Global Investments

Summit Global Investments acquired a new stake in VeriSign, Inc. (NASDAQ:VRSN) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 2,593 shares of the information services provider’s stock, valued at approximately $537,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Whittier Trust Co. of Nevada Inc. grew its stake in shares of VeriSign by 4.6% in the fourth quarter. Whittier Trust Co. of Nevada Inc. now owns 1,469 shares of the information services provider’s stock valued at $304,000 after buying an additional 64 shares in the last quarter. Teacher Retirement System of Texas grew its position in VeriSign by 89.5% in the fourth quarter. Teacher Retirement System of Texas now owns 155,551 shares of the information services provider’s stock valued at $32,193,000 after acquiring an additional 73,463 shares in the last quarter. Generali Investments Management Co LLC purchased a new stake in shares of VeriSign during the fourth quarter valued at approximately $2,181,000. GCQ FUNDS MANAGEMENT PTY Ltd acquired a new position in shares of VeriSign during the fourth quarter worth $20,420,000. Finally, Harvest Fund Management Co. Ltd purchased a new position in shares of VeriSign in the fourth quarter valued at $182,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

VeriSign Stock Up 0.3 %

Shares of VeriSign stock opened at $245.36 on Tuesday. The business has a 50-day moving average price of $227.18 and a 200 day moving average price of $202.79. VeriSign, Inc. has a fifty-two week low of $167.05 and a fifty-two week high of $247.30. The firm has a market cap of $23.21 billion, a P/E ratio of 30.67 and a beta of 0.87.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, meeting analysts’ consensus estimates 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 other news, SVP John Calys sold 447 shares of VeriSign stock in a transaction dated 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 directly owns 23,735 shares of the company’s stock, valued at approximately $5,500,586.25. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.84% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently issued reports on VRSN. Robert W. Baird raised shares of VeriSign from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $200.00 to $250.00 in a research note on Monday, December 9th. Baird R W raised VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. StockNews.com downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a research report on Friday. Finally, Citigroup upped their price target on shares of VeriSign from $246.00 to $250.00 and gave the company a “buy” rating in a report on Tuesday, February 4th.

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.