Quarry LP Purchases 544 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Quarry LP raised its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 101.5% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,080 shares of the information services provider’s stock after acquiring an additional 544 shares during the quarter. Quarry LP’s holdings in VeriSign were worth $192,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Mackenzie Financial Corp grew its position in VeriSign by 836.8% in the second quarter. Mackenzie Financial Corp now owns 473,187 shares of the information services provider’s stock valued at $84,133,000 after purchasing an additional 422,676 shares in the last quarter. Diamond Hill Capital Management Inc. bought a new position in shares of VeriSign in the 2nd quarter valued at about $67,914,000. TD Asset Management Inc increased its position in shares of VeriSign by 94.7% in the first quarter. TD Asset Management Inc now owns 643,173 shares of the information services provider’s stock valued at $121,888,000 after acquiring an additional 312,882 shares during the last quarter. AQR Capital Management LLC raised its holdings in VeriSign by 44.5% during the second quarter. AQR Capital Management LLC now owns 788,687 shares of the information services provider’s stock worth $139,771,000 after acquiring an additional 242,884 shares in the last quarter. Finally, Epoch Investment Partners Inc. boosted its position in VeriSign by 245.4% during the first quarter. Epoch Investment Partners Inc. now owns 334,652 shares of the information services provider’s stock valued at $63,420,000 after purchasing an additional 237,770 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have weighed in on VRSN shares. StockNews.com lowered VeriSign from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Robert W. Baird restated a “neutral” rating and set a $200.00 target price on shares of VeriSign in a report on Thursday, June 27th.

VeriSign Stock Performance

Shares of NASDAQ:VRSN opened at $189.96 on Tuesday. VeriSign, Inc. has a 52-week low of $167.04 and a 52-week high of $220.91. The company has a market capitalization of $18.92 billion, a P/E ratio of 23.34 and a beta of 0.90. The company has a 50-day simple moving average of $181.54 and a 200 day simple moving average of $180.01.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, July 25th. The information services provider reported $2.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.93 by $0.08. The company had revenue of $387.10 million during the quarter, compared to analysts’ expectations of $385.80 million. VeriSign had a negative return on equity of 46.63% and a net margin of 55.40%. The business’s revenue was up 4.1% on a year-over-year basis. During the same period last year, the firm posted $1.79 earnings per share.

Insiders Place Their Bets

In other news, EVP Thomas C. Indelicarto sold 2,456 shares of the business’s stock in a transaction dated Friday, September 27th. The shares were sold at an average price of $190.00, for a total value of $466,640.00. Following the completion of the sale, the executive vice president now owns 34,821 shares of the company’s stock, valued at $6,615,990. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, EVP Thomas C. Indelicarto sold 2,456 shares of the business’s stock in a transaction that occurred on Friday, September 27th. The stock was sold at an average price of $190.00, for a total value of $466,640.00. Following the completion of the sale, the executive vice president now directly owns 34,821 shares in the company, valued at $6,615,990. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Thomas C. Indelicarto sold 3,684 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $190.00, for a total value of $699,960.00. Following the transaction, the executive vice president now owns 37,774 shares in the company, valued at approximately $7,177,060. The disclosure for this sale can be found here. Company insiders own 0.84% of the company’s stock.

About VeriSign

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.