Renaissance Technologies Lowers stake in Verisign (VRSN)

Verisign (VRSN) : Renaissance Technologies reduced its stake in Verisign by 14.6% during the most recent quarter end. The investment management company now holds a total of 4,164,300 shares of Verisign which is valued at $352.8 Million after selling 712,176 shares in Verisign , the firm said in a disclosure report filed with the SEC on May 13, 2016.Verisign makes up approximately 0.67% of Renaissance Technologies’s portfolio.

Other Hedge Funds, Including , Dekabank Deutsche Girozentrale reduced its stake in VRSN by selling 12,400 shares or 40.1% in the most recent quarter. The Hedge Fund company now holds 18,524 shares of VRSN which is valued at $1.6 Million. Verisign makes up approx 0.02% of Dekabank Deutsche Girozentrale’s portfolio.Bessemer Group Inc boosted its stake in VRSN in the latest quarter, The investment management firm added 24 additional shares and now holds a total of 2,304 shares of Verisign which is valued at $195,195.Utah Retirement Systems reduced its stake in VRSN by selling 1,000 shares or 5.39% in the most recent quarter. The Hedge Fund company now holds 17,540 shares of VRSN which is valued at $1.5 Million. Verisign makes up approx 0.04% of Utah Retirement Systems’s portfolio.Td Asset Management Inc reduced its stake in VRSN by selling 7,406 shares or 2.93% in the most recent quarter. The Hedge Fund company now holds 245,314 shares of VRSN which is valued at $20.9 Million. Verisign makes up approx 0.04% of Td Asset Management Inc’s portfolio.Wedge Capital Management L L Pnc reduced its stake in VRSN by selling 1,618 shares or 11.72% in the most recent quarter. The Hedge Fund company now holds 12,182 shares of VRSN which is valued at $1 Million. Verisign makes up approx 0.01% of Wedge Capital Management L L Pnc’s portfolio.

Verisign closed down -0.25 points or -0.30% at $84.31 with 5,30,954 shares getting traded on Wednesday. Post opening the session at $84.72, the shares hit an intraday low of $84.22 and an intraday high of $85.155 and the price fluctuated in this range throughout the day.Shares ended Wednesday session in Red.

On the company’s financial health, Verisign reported $0.85 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Apr 28, 2016. Analyst had a consensus of $0.83. The company had revenue of $281.90 million for the quarter, compared to analysts expectations of $278.46 million. The company’s revenue was up 9.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.74 EPS.

VeriSign Inc. is a global provider of domain name registry services and Internet security enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world (Registry Services). The Company’s product suite also includes Network Intelligence and Availability (NIA) Services consisting of Distributed Denial of Service (DDoS) Protection Services Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services. The Company’s Registry Services provides the security stability and resiliency of Internet infrastructure and services including the .com and .net domains two of the Internet’s root servers and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS). The Company has operations inside as well as outside the United States.

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