Smith Asset Management Group Lp buys $34,008,391 stake in Verisign (VRSN)

Verisign (VRSN) : Smith Asset Management Group Lp scooped up 6,584 additional shares in Verisign during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Jul 26, 2016. The investment management firm now holds a total of 404,910 shares of Verisign which is valued at $34,008,391.Verisign makes up approximately 0.99% of Smith Asset Management Group Lp’s portfolio.

Other Hedge Funds, Including , Msi Financial Services Inc boosted its stake in VRSN in the latest quarter, The investment management firm added 8 additional shares and now holds a total of 378 shares of Verisign which is valued at $31,748. Dorsey Wright Associates sold out all of its stake in VRSN during the most recent quarter. The investment firm sold 13,326 shares of VRSN which is valued $1,112,321.Cibc World Markets reduced its stake in VRSN by selling 13,782 shares or 56.0% in the most recent quarter. The Hedge Fund company now holds 10,827 shares of VRSN which is valued at $903,730.

Verisign opened for trading at $83.45 and hit $87.19 on the upside on Friday, eventually ending the session at $86.61, with a gain of 2.80% or 2.36 points. The heightened volatility saw the trading volume jump to 17,55,253 shares. Company has a market cap of $9,395 M.

On the company’s financial health, Verisign reported $0.91 EPS for the quarter, beating the analyst consensus estimate by $ 0.05 according to the earnings call on Jul 28, 2016. Analyst had a consensus of $0.86. The company had revenue of $286.47 million for the quarter, compared to analysts expectations of $283.99 million. The company’s revenue was up 9.1% 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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