iA Global Asset Management Inc. Increases Holdings in VeriSign, Inc. $VRSN

iA Global Asset Management Inc. raised its position in VeriSign, Inc. (NASDAQ:VRSN) by 25.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,456 shares of the information services provider’s stock after acquiring an additional 1,110 shares during the quarter. iA Global Asset Management Inc.’s holdings in VeriSign were worth $1,576,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of VRSN. OneDigital Investment Advisors LLC lifted its holdings in VeriSign by 13.0% during the 1st quarter. OneDigital Investment Advisors LLC now owns 1,447 shares of the information services provider’s stock worth $367,000 after buying an additional 166 shares during the last quarter. IFM Investors Pty Ltd increased its position in VeriSign by 11.0% during the 1st quarter. IFM Investors Pty Ltd now owns 18,427 shares of the information services provider’s stock worth $4,678,000 after purchasing an additional 1,833 shares during the period. Penserra Capital Management LLC increased its position in VeriSign by 537.1% during the 1st quarter. Penserra Capital Management LLC now owns 3,848 shares of the information services provider’s stock worth $976,000 after purchasing an additional 3,244 shares during the period. Callan Capital LLC acquired a new stake in shares of VeriSign in the 1st quarter worth approximately $221,000. Finally, Abound Financial LLC acquired a new stake in shares of VeriSign in the 1st quarter worth approximately $185,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at VeriSign

In other VeriSign news, EVP Danny R. Mcpherson sold 2,500 shares of VeriSign stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $236.87, for a total value of $592,175.00. Following the transaction, the executive vice president owned 28,577 shares in the company, valued at approximately $6,769,033.99. The trade was a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO D James Bidzos sold 5,000 shares of VeriSign stock in a transaction that occurred on Tuesday, August 12th. The stock was sold at an average price of $264.15, for a total transaction of $1,320,750.00. Following the completion of the transaction, the chief executive officer owned 508,772 shares in the company, valued at approximately $134,392,123.80. This trade represents a 0.97% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 47,705 shares of company stock worth $12,909,061. 0.84% of the stock is currently owned by company insiders.

VeriSign Trading Up 2.0%

VRSN opened at $244.56 on Tuesday. The business’s 50 day moving average is $270.17 and its 200-day moving average is $274.88. The stock has a market cap of $22.67 billion, a PE ratio of 28.50 and a beta of 0.79. VeriSign, Inc. has a twelve month low of $175.90 and a twelve month high of $310.60.

VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, October 23rd. The information services provider reported $2.27 EPS for the quarter, topping the consensus estimate of $2.25 by $0.02. The firm had revenue of $419.10 million for the quarter, compared to analysts’ expectations of $416.71 million. VeriSign had a negative return on equity of 40.66% and a net margin of 49.86%.The firm’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the company earned $2.07 earnings per share. VeriSign has set its FY 2025 guidance at EPS.

VeriSign declared that its board has authorized a stock repurchase program on Thursday, July 24th that permits the company to buyback $1.11 billion in outstanding shares. This buyback authorization permits the information services provider to repurchase up to 4.1% of its stock through open market purchases. Stock buyback programs are often an indication that the company’s board believes its stock is undervalued.

VeriSign Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 18th will be given a $0.77 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $3.08 annualized dividend and a yield of 1.3%. VeriSign’s payout ratio is 35.90%.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. Zacks Research upgraded VeriSign to a “hold” rating in a report on Thursday, October 30th. Citigroup reaffirmed a “buy” rating on shares of VeriSign in a research report on Friday, October 24th. Robert W. Baird set a $325.00 target price on VeriSign in a research report on Friday, October 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of VeriSign in a research report on Wednesday, October 8th. Finally, JPMorgan Chase & Co. initiated coverage on shares of VeriSign in a research note on Tuesday, October 28th. They issued a “neutral” rating and a $270.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $281.67.

About VeriSign

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.