MUFG Securities EMEA plc Acquires 1,811 Shares of VeriSign, Inc. $VRSN

MUFG Securities EMEA plc increased its holdings in VeriSign, Inc. (NASDAQ:VRSNFree Report) by 112.6% during the 4th quarter, HoldingsChannel reports. The firm owned 3,420 shares of the information services provider’s stock after buying an additional 1,811 shares during the period. MUFG Securities EMEA plc’s holdings in VeriSign were worth $831,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of VRSN. Sunbelt Securities Inc. boosted its stake in VeriSign by 429.2% during the third quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider’s stock worth $36,000 after buying an additional 103 shares during the period. Board of the Pension Protection Fund purchased a new stake in shares of VeriSign during the fourth quarter valued at $39,000. Advisors Asset Management Inc. boosted its stake in shares of VeriSign by 25.3% during the first quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock valued at $50,000 after purchasing an additional 40 shares during the period. Abich Financial Wealth Management LLC purchased a new stake in shares of VeriSign during the third quarter valued at $59,000. Finally, Activest Wealth Management boosted its stake in shares of VeriSign by 788.0% during the fourth quarter. Activest Wealth Management now owns 222 shares of the information services provider’s stock valued at $54,000 after purchasing an additional 197 shares during the period. Institutional investors own 92.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Robert W. Baird boosted their target price on shares of VeriSign from $305.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Weiss Ratings raised shares of VeriSign from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 27th. Zacks Research raised shares of VeriSign from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. JPMorgan Chase & Co. lifted their price objective on VeriSign from $273.00 to $278.00 and gave the company a “neutral” rating in a report on Friday, April 24th. Finally, Citigroup lifted their price objective on VeriSign from $295.00 to $320.00 and gave the company a “buy” rating in a report on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $317.67.

Read Our Latest Report on VRSN

VeriSign Price Performance

VRSN stock opened at $297.08 on Thursday. The business has a 50-day moving average price of $278.04 and a 200 day moving average price of $253.92. The company has a market capitalization of $27.03 billion, a P/E ratio of 32.83 and a beta of 0.69. VeriSign, Inc. has a 1-year low of $208.86 and a 1-year high of $312.48.

VeriSign (NASDAQ:VRSNGet Free Report) last released its quarterly earnings data on Thursday, April 23rd. The information services provider reported $2.34 earnings per share for the quarter, beating the consensus estimate of $2.30 by $0.04. The firm had revenue of $428.90 million during the quarter, compared to the consensus estimate of $424.50 million. VeriSign had a negative return on equity of 39.98% and a net margin of 49.95%.The firm’s quarterly revenue was up 6.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.10 earnings per share. On average, analysts anticipate that VeriSign, Inc. will post 9.46 earnings per share for the current fiscal year.

VeriSign Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 27th. Investors of record on Tuesday, May 19th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, May 19th. VeriSign’s payout ratio is presently 35.80%.

Insiders Place Their Bets

In other VeriSign news, CEO D James Bidzos sold 3,300 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $297.47, for a total value of $981,651.00. Following the completion of the transaction, the chief executive officer directly owned 439,339 shares in the company, valued at approximately $130,690,172.33. The trade was a 0.75% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas C. Indelicarto sold 500 shares of the business’s stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $293.45, for a total transaction of $146,725.00. Following the completion of the transaction, the executive vice president owned 37,051 shares of the company’s stock, valued at $10,872,615.95. This represents a 1.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 10,128 shares of company stock worth $2,834,304. 0.56% of the stock is owned by corporate insiders.

About VeriSign

(Free Report)

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.

See Also

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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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