Hound Partners LLC Purchases Shares of 78,000 Verisign, Inc. (VRSN)

Hound Partners LLC purchased a new stake in Verisign, Inc. (NASDAQ:VRSN) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 78,000 shares of the information services provider’s stock, valued at approximately $9,248,000. Verisign accounts for 0.2% of Hound Partners LLC’s portfolio, making the stock its 18th largest holding. Hound Partners LLC owned about 0.08% of Verisign as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Fiera Capital Corp grew its position in Verisign by 15.5% in the first quarter. Fiera Capital Corp now owns 3,172 shares of the information services provider’s stock valued at $376,000 after acquiring an additional 425 shares during the period. Public Employees Retirement Association of Colorado grew its position in Verisign by 3.0% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 17,605 shares of the information services provider’s stock valued at $2,015,000 after acquiring an additional 506 shares during the period. Global X Management Co. LLC grew its holdings in shares of Verisign by 29.3% during the fourth quarter. Global X Management Co. LLC now owns 2,321 shares of the information services provider’s stock worth $266,000 after purchasing an additional 526 shares during the last quarter. LS Investment Advisors LLC grew its holdings in shares of Verisign by 3.9% during the first quarter. LS Investment Advisors LLC now owns 14,758 shares of the information services provider’s stock worth $1,750,000 after purchasing an additional 554 shares during the last quarter. Finally, Stifel Financial Corp grew its holdings in shares of Verisign by 1.1% during the first quarter. Stifel Financial Corp now owns 54,611 shares of the information services provider’s stock worth $6,475,000 after purchasing an additional 577 shares during the last quarter.

Several brokerages have recently commented on VRSN. BidaskClub upgraded Verisign from a “buy” rating to a “strong-buy” rating in a report on Thursday, April 19th. Zacks Investment Research upgraded Verisign from a “hold” rating to a “buy” rating and set a $132.00 target price on the stock in a report on Friday, April 13th. Citigroup increased their target price on Verisign from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Monday, April 30th. JPMorgan Chase & Co. increased their target price on Verisign to $106.00 and gave the stock an “underweight” rating in a report on Monday, February 26th. Finally, ValuEngine upgraded Verisign from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have assigned a buy rating to the stock. Verisign presently has a consensus rating of “Hold” and a consensus target price of $113.80.

Shares of VRSN stock opened at $139.34 on Thursday. The company has a current ratio of 1.55, a quick ratio of 1.55 and a debt-to-equity ratio of -1.44. The firm has a market cap of $13.38 billion, a PE ratio of 37.86 and a beta of 0.90. Verisign, Inc. has a 52 week low of $90.49 and a 52 week high of $141.00.

Verisign (NASDAQ:VRSN) last announced its earnings results on Thursday, April 26th. The information services provider reported $1.07 EPS for the quarter, topping the consensus estimate of $1.06 by $0.01. The company had revenue of $299.29 million for the quarter, compared to analysts’ expectations of $298.00 million. Verisign had a negative return on equity of 37.57% and a net margin of 40.41%. The business’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.96 earnings per share. equities analysts predict that Verisign, Inc. will post 4.28 EPS for the current year.

About Verisign

VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.

Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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