Sivia Capital Partners LLC Boosts Stock Holdings in VeriSign, Inc. $VRSN

Sivia Capital Partners LLC raised its holdings in shares of VeriSign, Inc. (NASDAQ:VRSNFree Report) by 60.5% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 6,182 shares of the information services provider’s stock after acquiring an additional 2,330 shares during the period. Sivia Capital Partners LLC’s holdings in VeriSign were worth $1,502,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in VRSN. Sunbelt Securities Inc. boosted its position in VeriSign by 429.2% during the third quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider’s stock valued at $36,000 after buying an additional 103 shares during the period. Board of the Pension Protection Fund purchased a new stake in VeriSign during the fourth quarter valued at about $39,000. Advisors Asset Management Inc. boosted its position in 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 buying an additional 40 shares during the period. Activest Wealth Management boosted its position in 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 buying an additional 197 shares during the period. Finally, Fideuram Asset Management Ireland dac purchased a new stake in VeriSign during the fourth quarter valued at about $58,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at VeriSign

In related news, EVP Danny R. Mcpherson sold 5,000 shares of the stock in a transaction dated Tuesday, April 28th. The shares were sold at an average price of $271.02, for a total value of $1,355,100.00. Following the completion of the transaction, the executive vice president directly owned 35,195 shares of the company’s stock, valued at $9,538,548.90. This represents a 12.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO D James Bidzos sold 3,300 shares of the stock in a transaction dated Tuesday, June 2nd. The stock was sold at an average price of $297.47, for a total transaction of $981,651.00. Following the completion of the transaction, the chief executive officer directly owned 439,339 shares of the company’s stock, valued at approximately $130,690,172.33. The trade was a 0.75% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Company insiders own 0.56% of the company’s stock.

Analysts Set New Price Targets

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

Read Our Latest Stock Report on VRSN

VeriSign Trading Down 0.1%

VeriSign stock opened at $297.08 on Thursday. The firm has a 50-day moving average of $278.04 and a 200-day moving average of $253.92. The firm has a market cap 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 posted its earnings results on Thursday, April 23rd. The information services provider reported $2.34 earnings per share for the quarter, topping analysts’ consensus estimates of $2.30 by $0.04. The company had revenue of $428.90 million during the quarter, compared to analyst estimates of $424.50 million. VeriSign had a net margin of 49.95% and a negative return on equity of 39.98%. VeriSign’s revenue for the quarter was up 6.6% on a year-over-year basis. During the same period in the prior year, the business posted $2.10 earnings per share. Research analysts forecast that VeriSign, Inc. will post 9.46 earnings per share for the current fiscal year.

VeriSign Dividend Announcement

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

VeriSign Profile

(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

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:VRSNFree Report).

Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

Receive News & Ratings for VeriSign Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VeriSign and related companies with MarketBeat.com's FREE daily email newsletter.