Intech Investment Management LLC Cuts Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Intech Investment Management LLC cut its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 17.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 71,531 shares of the information services provider’s stock after selling 15,046 shares during the period. Intech Investment Management LLC’s holdings in VeriSign were worth $13,588,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of VRSN. Blue Trust Inc. boosted its stake in shares of VeriSign by 291.1% in the 2nd quarter. Blue Trust Inc. now owns 176 shares of the information services provider’s stock valued at $33,000 after buying an additional 131 shares during the period. UMB Bank n.a. increased its position 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 purchasing an additional 109 shares during the last quarter. Rothschild Investment LLC acquired a new stake in shares of VeriSign in the 2nd quarter valued at $38,000. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of VeriSign during the 2nd quarter worth $39,000. Finally, Concord Wealth Partners grew its stake in shares of VeriSign by 93.2% during the third quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock worth $43,000 after purchasing an additional 109 shares in the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at VeriSign

In other VeriSign news, EVP Thomas C. Indelicarto sold 2,456 shares of the company’s stock in a transaction on 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 transaction, the executive vice president now owns 34,821 shares in the company, valued at $6,615,990. This represents a 6.59 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.84% of the stock is currently owned by insiders.

VeriSign Price Performance

NASDAQ:VRSN opened at $184.91 on Friday. VeriSign, Inc. has a 12 month low of $167.04 and a 12 month high of $220.91. The firm has a market capitalization of $17.77 billion, a PE ratio of 21.50 and a beta of 0.91. The business’s fifty day moving average price is $183.88 and its 200 day moving average price is $179.85.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, October 24th. The information services provider reported $2.07 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%. The business’s revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.83 EPS.

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.