Korea Investment CORP Reduces Holdings in Verisign, Inc. (VRSN)

Korea Investment CORP lessened its stake in shares of Verisign, Inc. (NASDAQ:VRSN) by 85.7% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,387 shares of the information services provider’s stock after selling 20,313 shares during the period. Korea Investment CORP’s holdings in Verisign were worth $542,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in shares of Verisign by 2.0% during the 3rd quarter. BlackRock Inc. now owns 8,633,323 shares of the information services provider’s stock valued at $1,382,366,000 after purchasing an additional 172,033 shares during the last quarter. First Trust Advisors LP lifted its holdings in shares of Verisign by 3.1% in the 3rd quarter. First Trust Advisors LP now owns 1,822,904 shares of the information services provider’s stock valued at $291,883,000 after acquiring an additional 54,837 shares during the last quarter. Northern Trust Corp lifted its holdings in shares of Verisign by 9.3% in the 2nd quarter. Northern Trust Corp now owns 1,339,152 shares of the information services provider’s stock valued at $184,027,000 after acquiring an additional 113,409 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Verisign by 1.5% in the 3rd quarter. American Century Companies Inc. now owns 1,056,680 shares of the information services provider’s stock valued at $169,196,000 after acquiring an additional 15,724 shares during the last quarter. Finally, Janus Henderson Group PLC lifted its holdings in shares of Verisign by 2.2% in the 3rd quarter. Janus Henderson Group PLC now owns 968,074 shares of the information services provider’s stock valued at $155,007,000 after acquiring an additional 21,013 shares during the last quarter. 92.19% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ:VRSN opened at $153.95 on Friday. Verisign, Inc. has a 12 month low of $105.40 and a 12 month high of $176.76. The stock has a market capitalization of $18.56 billion, a P/E ratio of 41.83 and a beta of 0.99.

Verisign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, October 25th. The information services provider reported $1.23 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.13. Verisign had a net margin of 41.82% and a negative return on equity of 38.09%. The firm had revenue of $305.78 million during the quarter, compared to the consensus estimate of $305.25 million. On average, research analysts expect that Verisign, Inc. will post 4.37 earnings per share for the current year.

A number of research analysts recently commented on VRSN shares. JPMorgan Chase & Co. increased their price target on shares of Verisign from $123.00 to $125.00 and gave the company an “average” rating in a report on Monday, September 24th. Robert W. Baird raised shares of Verisign from a “neutral” rating to an “outperform” rating and increased their price target for the company from $160.00 to $170.00 in a report on Friday, November 2nd. Citigroup increased their price target on shares of Verisign from $152.00 to $155.00 and gave the company a “neutral” rating in a report on Friday, November 2nd. BidaskClub raised shares of Verisign from a “buy” rating to a “strong-buy” rating in a report on Thursday, August 30th. Finally, Zacks Investment Research reaffirmed a “hold” rating on shares of Verisign in a report on Saturday, November 17th. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Verisign currently has an average rating of “Hold” and a consensus price target of $154.40.

In other Verisign news, Director Kathleen A. Cote sold 2,384 shares of the firm’s stock in a transaction dated Monday, November 5th. The shares were sold at an average price of $160.50, for a total value of $382,632.00. Following the completion of the sale, the director now owns 37,594 shares of the company’s stock, valued at $6,033,837. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.92% of the stock is owned by company insiders.

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Verisign Profile

VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.

Read More: Diversification

Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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