Sentry Investment Management LLC Reduces Position in Verisign, Inc. (VRSN)

Sentry Investment Management LLC lowered its stake in shares of Verisign, Inc. (NASDAQ:VRSN) by 8.2% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,505 shares of the information services provider’s stock after selling 578 shares during the quarter. Sentry Investment Management LLC’s holdings in Verisign were worth $1,181,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Quadrant Capital Group LLC boosted its stake in shares of Verisign by 3.3% in the 1st quarter. Quadrant Capital Group LLC now owns 1,578 shares of the information services provider’s stock valued at $278,000 after purchasing an additional 51 shares in the last quarter. First Republic Investment Management Inc. grew its stake in shares of Verisign by 3.4% during the 1st quarter. First Republic Investment Management Inc. now owns 1,737 shares of the information services provider’s stock worth $315,000 after acquiring an additional 57 shares in the last quarter. Suntrust Banks Inc. grew its stake in shares of Verisign by 3.8% during the 4th quarter. Suntrust Banks Inc. now owns 1,813 shares of the information services provider’s stock worth $269,000 after acquiring an additional 66 shares in the last quarter. Brinker Capital Inc. grew its stake in shares of Verisign by 0.6% during the 1st quarter. Brinker Capital Inc. now owns 11,591 shares of the information services provider’s stock worth $2,104,000 after acquiring an additional 66 shares in the last quarter. Finally, D Orazio & Associates Inc. grew its stake in shares of Verisign by 82.4% during the 1st quarter. D Orazio & Associates Inc. now owns 155 shares of the information services provider’s stock worth $28,000 after acquiring an additional 70 shares in the last quarter. 93.60% of the stock is currently owned by institutional investors and hedge funds.

Several equities analysts recently weighed in on VRSN shares. Zacks Investment Research raised shares of Verisign from a “hold” rating to a “buy” rating and set a $224.00 target price for the company in a research note on Tuesday, April 30th. BidaskClub raised shares of Verisign from a “buy” rating to a “strong-buy” rating in a research note on Friday, March 22nd. Citigroup reissued a “neutral” rating and issued a $195.00 target price (up from $175.00) on shares of Verisign in a research note on Tuesday, March 5th. Finally, ValuEngine raised shares of Verisign from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 12th. Three research analysts have rated the stock with a hold rating, two have given a buy rating and two have issued a strong buy rating to the company’s stock. Verisign currently has a consensus rating of “Buy” and an average target price of $180.80.



In other Verisign news, Director Timothy Tomlinson sold 378 shares of Verisign stock in a transaction on Monday, April 29th. The shares were sold at an average price of $199.55, for a total transaction of $75,429.90. Following the completion of the transaction, the director now directly owns 34,094 shares of the company’s stock, valued at $6,803,457.70. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Insiders own 1.20% of the company’s stock.

VRSN stock opened at $197.69 on Thursday. Verisign, Inc. has a one year low of $126.52 and a one year high of $203.28. The firm has a market cap of $23.31 billion, a price-to-earnings ratio of 41.62 and a beta of 1.08.

Verisign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.31 EPS for the quarter, topping the Zacks’ consensus estimate of $1.25 by $0.06. Verisign had a net margin of 49.98% and a negative return on equity of 43.07%. The firm had revenue of $306.41 million during the quarter, compared to analysts’ expectations of $302.63 million. During the same period in the previous year, the business posted $1.07 earnings per share. The company’s revenue for the quarter was up 2.4% compared to the same quarter last year. On average, equities analysts predict that Verisign, Inc. will post 4.96 EPS for the current year.

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About Verisign

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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Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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