PNC Financial Services Group Inc. Trims Holdings in VeriSign, Inc. (NASDAQ:VRSN)

PNC Financial Services Group Inc. lowered its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 4.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 11,046 shares of the information services provider’s stock after selling 523 shares during the period. PNC Financial Services Group Inc.’s holdings in VeriSign were worth $2,098,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the stock. Blue Trust Inc. grew 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 during the period. UMB Bank n.a. grew its stake in shares of VeriSign by 117.2% in the 2nd quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock valued at $36,000 after buying an additional 109 shares during the period. Rothschild Investment LLC acquired a new stake in shares of VeriSign during the 2nd quarter worth approximately $38,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of VeriSign during the 2nd quarter valued at approximately $39,000. Finally, Concord Wealth Partners grew its position in VeriSign by 93.2% in the third quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock worth $43,000 after acquiring an additional 109 shares during the period. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

VeriSign Stock Up 0.6 %

NASDAQ:VRSN opened at $181.91 on Tuesday. VeriSign, Inc. has a 52 week low of $167.04 and a 52 week high of $220.91. The stock’s fifty day moving average is $183.83 and its two-hundred day moving average is $180.17. The company has a market capitalization of $17.48 billion, a P/E ratio of 21.15 and a beta of 0.91.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, October 24th. The information services provider reported $2.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.06. The firm had revenue of $390.60 million for the quarter, compared to analyst estimates of $390.19 million. VeriSign had a net margin of 55.74% and a negative return on equity of 45.59%. VeriSign’s revenue was up 3.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.83 EPS.

Insider Transactions at VeriSign

In other VeriSign news, EVP Thomas C. Indelicarto sold 1,228 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $190.00, for a total value of $233,320.00. Following the sale, the executive vice president now owns 33,593 shares of the company’s stock, valued at $6,382,670. The trade was a 3.53 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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.