Boston Financial Mangement LLC Has $37.61 Million Position in VeriSign, Inc. (NASDAQ:VRSN)

Boston Financial Mangement LLC lifted its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 6.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 181,746 shares of the information services provider’s stock after purchasing an additional 11,198 shares during the period. VeriSign accounts for 1.1% of Boston Financial Mangement LLC’s portfolio, making the stock its 24th largest holding. Boston Financial Mangement LLC owned 0.19% of VeriSign worth $37,614,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of VRSN. Crewe Advisors LLC acquired a new position in VeriSign during the fourth quarter worth approximately $26,000. Venturi Wealth Management LLC increased its holdings in shares of VeriSign by 127.2% during the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider’s stock worth $38,000 after acquiring an additional 103 shares during the last quarter. Concord Wealth Partners raised its stake in VeriSign by 93.2% in the 3rd 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 period. Spire Wealth Management boosted its position in VeriSign by 69.8% during the fourth quarter. Spire Wealth Management now owns 253 shares of the information services provider’s stock worth $52,000 after purchasing an additional 104 shares during the period. Finally, Blue Trust Inc. increased its holdings in shares of VeriSign by 138.6% in the third quarter. Blue Trust Inc. now owns 420 shares of the information services provider’s stock valued at $75,000 after purchasing an additional 244 shares during the last quarter. 92.90% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on VRSN shares. StockNews.com upgraded shares of VeriSign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Baird R W upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th. Citigroup increased their target price on VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird upgraded VeriSign from a “neutral” rating to an “outperform” rating and boosted their price target for the company from $200.00 to $250.00 in a research note on Monday, December 9th.

Insider Buying and Selling at VeriSign

In other VeriSign news, EVP Danny R. Mcpherson sold 2,092 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $192.43, for a total value of $402,563.56. Following the transaction, the executive vice president now directly owns 26,157 shares of the company’s stock, valued at $5,033,391.51. This trade represents a 7.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.84% of the company’s stock.

VeriSign Stock Up 0.2 %

Shares of VeriSign stock opened at $231.73 on Thursday. The stock has a market capitalization of $21.92 billion, a price-to-earnings ratio of 28.97 and a beta of 0.90. VeriSign, Inc. has a twelve month low of $167.04 and a twelve month high of $232.48. The company has a 50-day simple moving average of $210.32 and a two-hundred day simple moving average of $192.94.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, meeting analysts’ consensus estimates of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%.

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.