Charles Schwab Investment Management Inc. Acquires 9,574 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Charles Schwab Investment Management Inc. boosted its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 1.8% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 527,551 shares of the information services provider’s stock after purchasing an additional 9,574 shares during the period. Charles Schwab Investment Management Inc.’s holdings in VeriSign were worth $100,214,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its holdings in shares of VeriSign by 291.1% in the second quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock valued at $33,000 after purchasing an additional 131 shares in the last quarter. UMB Bank n.a. lifted its holdings in shares of VeriSign by 117.2% in the second quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock valued at $36,000 after purchasing an additional 109 shares in the last quarter. Rothschild Investment LLC bought a new stake in shares of VeriSign in the second quarter valued at about $38,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of VeriSign in the second quarter valued at about $39,000. Finally, Concord Wealth Partners increased its position in shares of VeriSign by 93.2% in the third quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock valued at $43,000 after acquiring an additional 109 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors.

VeriSign Stock Performance

NASDAQ:VRSN opened at $185.16 on Wednesday. The stock’s 50-day simple moving average is $183.87 and its 200 day simple moving average is $180.27. The company has a market cap of $17.79 billion, a P/E ratio of 21.53 and a beta of 0.91. VeriSign, Inc. has a 52-week low of $167.04 and a 52-week high of $220.91.

VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, October 24th. The information services provider reported $2.07 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.01 by $0.06. The business had revenue of $390.60 million for the quarter, compared to the consensus estimate of $390.19 million. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. VeriSign’s quarterly revenue was up 3.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.83 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 that occurred on Friday, September 27th. The stock was sold at an average price of $190.00, for a total transaction of $466,640.00. Following the completion of the sale, the executive vice president now owns 34,821 shares in the company, valued at $6,615,990. The trade was a 6.59 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Company insiders own 0.84% of the company’s stock.

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.