TD Asset Management Inc cut its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN – Free Report) by 3.6% during the 4th quarter, HoldingsChannel.com reports. The fund owned 607,535 shares of the information services provider’s stock after selling 22,587 shares during the period. TD Asset Management Inc’s holdings in VeriSign were worth $147,601,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Sunbelt Securities Inc. lifted its holdings 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 acquiring an additional 103 shares in the last quarter. Board of the Pension Protection Fund bought a new position in VeriSign during the fourth quarter worth about $39,000. Advisors Asset Management Inc. lifted its holdings in VeriSign by 25.3% during the first quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock worth $50,000 after acquiring an additional 40 shares in the last quarter. Activest Wealth Management lifted its holdings in VeriSign by 788.0% during the fourth quarter. Activest Wealth Management now owns 222 shares of the information services provider’s stock worth $54,000 after acquiring an additional 197 shares in the last quarter. Finally, Fideuram Asset Management Ireland dac bought a new position in VeriSign during the fourth quarter worth about $58,000. 92.90% of the stock is currently owned by institutional investors.
Insider Activity
In other news, 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 value of $146,725.00. Following the sale, the executive vice president directly owned 37,051 shares in the company, valued at $10,872,615.95. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Danny R. Mcpherson sold 5,000 shares of the business’s 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 sale, the executive vice president owned 35,195 shares in the company, valued at approximately $9,538,548.90. This trade represents a 12.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 10,128 shares of company stock worth $2,834,304 over the last three months. Corporate insiders own 0.56% of the company’s stock.
Analyst Upgrades and Downgrades
Read Our Latest Stock Report on VRSN
VeriSign Price Performance
Shares of VeriSign stock opened at $293.79 on Friday. The firm has a market cap of $26.73 billion, a price-to-earnings ratio of 32.46 and a beta of 0.69. The stock’s 50-day moving average is $279.09 and its 200-day moving average is $254.21. VeriSign, Inc. has a one year low of $208.86 and a one year high of $312.48.
VeriSign (NASDAQ:VRSN – Get Free Report) last issued its quarterly earnings results on Thursday, April 23rd. The information services provider reported $2.34 EPS for the quarter, beating analysts’ consensus estimates of $2.30 by $0.04. The company had revenue of $428.90 million for the quarter, compared to analyst estimates of $424.50 million. VeriSign had a negative return on equity of 39.98% and a net margin of 49.95%.The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.10 earnings per share. On average, equities analysts expect that VeriSign, Inc. will post 9.49 EPS for the current year.
VeriSign Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Tuesday, May 19th were issued a $0.81 dividend. 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 payout ratio is 35.80%.
About VeriSign
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.
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