Verisign, Inc. (NASDAQ:VRSN) Shares Sold by Comerica Bank

Comerica Bank reduced its position in shares of Verisign, Inc. (NASDAQ:VRSN) by 0.7% during the third quarter, HoldingsChannel reports. The firm owned 22,257 shares of the information services provider’s stock after selling 154 shares during the quarter. Comerica Bank’s holdings in Verisign were worth $4,134,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Liberty Wealth Management LLC acquired a new position in shares of Verisign during the second quarter worth $25,000. HM Payson & Co. acquired a new position in shares of Verisign during the second quarter worth $25,000. AGF Investments LLC lifted its position in shares of Verisign by 102.9% during the second quarter. AGF Investments LLC now owns 138 shares of the information services provider’s stock worth $29,000 after purchasing an additional 70 shares in the last quarter. Capital Investment Advisory Services LLC acquired a new position in shares of Verisign during the second quarter worth $29,000. Finally, Advisory Services Network LLC lifted its position in shares of Verisign by 98.9% during the second quarter. Advisory Services Network LLC now owns 181 shares of the information services provider’s stock worth $38,000 after purchasing an additional 90 shares in the last quarter. 92.44% of the stock is currently owned by institutional investors and hedge funds.

A number of research analysts have recently commented on the stock. Robert W. Baird boosted their target price on shares of Verisign from $210.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. BidaskClub cut shares of Verisign from a “buy” rating to a “hold” rating in a research report on Tuesday. Zacks Investment Research raised shares of Verisign from a “hold” rating to a “buy” rating and set a $201.00 target price on the stock in a research report on Sunday, November 3rd. Finally, ValuEngine cut shares of Verisign from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $212.00.

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VRSN opened at $183.79 on Friday. The stock has a market capitalization of $21.90 billion, a PE ratio of 38.69 and a beta of 1.04. The firm’s fifty day moving average price is $186.78 and its 200 day moving average price is $199.57. Verisign, Inc. has a 12-month low of $138.77 and a 12-month high of $221.78.

Verisign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, October 24th. The information services provider reported $1.36 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.31 by $0.05. The firm had revenue of $308.42 million for the quarter, compared to analysts’ expectations of $308.34 million. Verisign had a net margin of 52.60% and a negative return on equity of 44.38%. The firm’s quarterly revenue was up .9% on a year-over-year basis. During the same period in the prior year, the company posted $1.23 earnings per share. On average, sell-side analysts predict that Verisign, Inc. will post 5.12 earnings per share for the current year.

In related news, Director Timothy Tomlinson sold 295 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $190.57, for a total value of $56,218.15. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 1.20% of the company’s stock.

Verisign Company Profile

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

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Want to see what other hedge funds are holding VRSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Verisign, Inc. (NASDAQ:VRSN).

Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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