Focus Partners Advisor Solutions LLC Acquires New Position in VeriSign, Inc. (NASDAQ:VRSN)
Focus Partners Advisor Solutions LLC has acquired a new stake in VeriSign, Inc. (NASDAQ:VRSN), purchasing 1,332 shares valued at approximately $276,000 during the fourth quarter. Other investors also increased their holdings in VeriSign. The company's stock opened at $279.76, with a market cap of $26.27 billion and a P/E ratio of 34.97. VeriSign reported earnings of $2.10 per share, meeting analysts' expectations, and announced a dividend of $0.77 to be paid on May 28th. Recent insider transactions included sales by SVP John Calys and CEO D James Bidzos.
Focus Partners Advisor Solutions LLC acquired a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,332 shares of the information services provider's stock, valued at approximately $276,000.
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Other large investors also recently modified their holdings of the company. Crewe Advisors LLC purchased a new position in shares of VeriSign during the 4th quarter valued at about $26,000. Whipplewood Advisors LLC purchased a new position in shares of VeriSign during the 4th quarter valued at about $26,000. Venturi Wealth Management LLC raised 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 valued at $38,000 after buying an additional 103 shares in the last quarter. BankPlus Trust Department purchased a new position in shares of VeriSign during the 4th quarter valued at about $49,000. Finally, Spire Wealth Management raised its holdings in shares of VeriSign by 69.8% during the 4th quarter. Spire Wealth Management now owns 253 shares of the information services provider's stock valued at $52,000 after buying an additional 104 shares in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.
VeriSign Price Performance
Shares of VeriSign stock opened at $279.76 on Monday. The business's 50 day simple moving average is $260.93 and its two-hundred day simple moving average is $227.93. The stock has a market capitalization of $26.27 billion, a P/E ratio of 34.97 and a beta of 0.80. VeriSign, Inc. has a one year low of $168.79 and a one year high of $288.95.
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VeriSign (NASDAQ:VRSN - Get Free Report) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.10 earnings per share for the quarter, hitting analysts' consensus estimates of $2.10. The firm had revenue of $402.30 million for the quarter, compared to analyst estimates of $400.44 million. VeriSign had a negative return on equity of 43.01% and a net margin of 50.47%. The business's quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the company earned $1.92 EPS.
VeriSign Dividend Announcement
The firm also recently disclosed a -- dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th will be given a $0.77 dividend. The ex-dividend date is Monday, May 19th. VeriSign's dividend payout ratio is currently 37.65%.
Insider Transactions at VeriSign
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In related news, SVP John Calys sold 400 shares of VeriSign stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $281.97, for a total transaction of $112,788.00. Following the sale, the senior vice president now directly owns 23,335 shares in the company, valued at $6,579,769.95. The trade was a 1.69% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO D James Bidzos sold 5,000 shares of VeriSign stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $280.40, for a total value of $1,402,000.00. Following the sale, the chief executive officer now owns 553,625 shares in the company, valued at $155,236,450. This represents a 0.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 8,000 shares of company stock worth $2,246,382. 0.84% of the stock is currently owned by insiders.
Analyst Upgrades and Downgrades
A number of brokerages recently weighed in on VRSN. Citigroup raised their price objective on VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a report on Tuesday, February 4th. Wall Street Zen raised VeriSign from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Finally, Robert W. Baird lifted their price target on VeriSign from $275.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th.
Check Out Our Latest Analysis on VeriSign
VeriSign Profile
(Free Report)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.
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Want to see what other hedge funds are holding VRSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VeriSign, Inc. (NASDAQ:VRSN - Free Report).
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