Troy Asset Management Ltd Acquires New Holdings in VeriSign, Inc. (NASDAQ:VRSN)

Troy Asset Management Ltd bought a new position in VeriSign, Inc. (NASDAQ:VRSN) during the 2nd quarter, according to its most recent filing with the SEC. The institutional investor bought 613,276 shares of the information services provider’s stock, valued at approximately $109,040,000. VeriSign makes up approximately 3.5% of Troy Asset Management Ltd’s investment portfolio, making the stock its 9th biggest holding. Troy Asset Management Ltd owned about 0.62% of VeriSign as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Blue Trust Inc. raised its position 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 worth $33,000 after buying an additional 131 shares in the last quarter. UMB Bank n.a. increased its stake in VeriSign by 117.2% in the 2nd quarter. UMB Bank n.a. now owns 202 shares of the information services provider’s stock worth $36,000 after acquiring an additional 109 shares during the last quarter. Rothschild Investment LLC bought a new stake in shares of VeriSign during the 2nd quarter valued at about $38,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of VeriSign during the 2nd quarter valued at about $39,000. Finally, Versant Capital Management Inc grew its holdings in shares of VeriSign by 55.7% during the second quarter. Versant Capital Management Inc now owns 327 shares of the information services provider’s stock worth $58,000 after purchasing an additional 117 shares in the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

VeriSign Price Performance

NASDAQ:VRSN opened at $189.96 on Tuesday. The company has a market capitalization of $18.92 billion, a price-to-earnings ratio of 23.34 and a beta of 0.90. The business has a 50 day moving average of $181.54 and a 200 day moving average of $180.01. VeriSign, Inc. has a 1-year low of $167.04 and a 1-year high of $220.91.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, July 25th. The information services provider reported $2.01 earnings per share for the quarter, topping analysts’ consensus estimates of $1.93 by $0.08. VeriSign had a net margin of 55.40% and a negative return on equity of 46.63%. The firm had revenue of $387.10 million during the quarter, compared to analyst estimates of $385.80 million. During the same period in the previous year, the business posted $1.79 EPS. The business’s quarterly revenue was up 4.1% on a year-over-year basis.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on VRSN shares. StockNews.com lowered shares of VeriSign from a “buy” rating to a “hold” rating in a research report on Sunday, June 16th. Robert W. Baird restated a “neutral” rating and set a $200.00 price objective on shares of VeriSign in a research report on Thursday, June 27th.

Insider Activity

In other news, EVP Thomas C. Indelicarto sold 2,456 shares of the firm’s stock in a transaction that occurred 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 transaction, the executive vice president now owns 34,821 shares in the company, valued at $6,615,990. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, EVP Thomas C. Indelicarto sold 2,456 shares of the stock in a transaction dated Friday, September 27th. The shares were 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 directly owns 34,821 shares in the company, valued at $6,615,990. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, EVP Thomas C. Indelicarto sold 3,684 shares of the firm’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $190.00, for a total value of $699,960.00. Following the completion of the sale, the executive vice president now directly owns 37,774 shares in the company, valued at $7,177,060. The disclosure for this sale can be found here. 0.84% of the stock is currently owned by corporate insiders.

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.