Western Wealth Management LLC Invests $508,000 in VeriSign, Inc. $VRSN

Western Wealth Management LLC purchased a new stake in shares of VeriSign, Inc. (NASDAQ:VRSNFree Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 2,045 shares of the information services provider’s stock, valued at approximately $508,000.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Advisors Asset Management Inc. lifted its stake in VeriSign by 25.3% in 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 during the period. Tranquilli Financial Advisor LLC raised its holdings in shares of VeriSign by 5.1% in the 4th quarter. Tranquilli Financial Advisor LLC now owns 872 shares of the information services provider’s stock valued at $212,000 after purchasing an additional 42 shares in the last quarter. Waverly Advisors LLC raised its holdings in shares of VeriSign by 2.1% in the 1st quarter. Waverly Advisors LLC now owns 2,069 shares of the information services provider’s stock valued at $514,000 after purchasing an additional 42 shares in the last quarter. One Wealth Advisors LLC lifted its position in shares of VeriSign by 3.8% in the 4th quarter. One Wealth Advisors LLC now owns 1,215 shares of the information services provider’s stock worth $295,000 after purchasing an additional 44 shares during the period. Finally, AlphaCentric Advisors LLC lifted its position in shares of VeriSign by 6.1% in the 1st quarter. AlphaCentric Advisors LLC now owns 802 shares of the information services provider’s stock worth $199,000 after purchasing an additional 46 shares during the period. 92.90% of the stock is currently owned by institutional investors.

Insider Transactions at VeriSign

In related news, CEO D James Bidzos sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $281.20, for a total transaction of $927,960.00. Following the sale, the chief executive officer directly owned 412,939 shares of the company’s stock, valued at $116,118,446.80. This trade represents a 0.79% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Calys sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $281.56, for a total value of $140,780.00. Following the completion of the transaction, the executive vice president directly owned 31,087 shares of the company’s stock, valued at $8,752,855.72. The trade was a 1.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 28,900 shares of company stock worth $7,872,034 over the last quarter. 0.56% of the stock is currently owned by insiders.

VeriSign Stock Performance

VRSN stock opened at $298.89 on Tuesday. VeriSign, Inc. has a one year low of $208.86 and a one year high of $312.48. The firm has a market cap of $26.99 billion, a price-to-earnings ratio of 32.42 and a beta of 0.70. The firm has a 50-day simple moving average of $274.25 and a two-hundred day simple moving average of $261.10.

VeriSign (NASDAQ:VRSNGet Free Report) last posted its quarterly earnings results on Thursday, July 23rd. The information services provider reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.02. VeriSign had a negative return on equity of 39.20% and a net margin of 49.76%.The business had revenue of $434.60 million for the quarter, compared to the consensus estimate of $433.19 million. During the same quarter in the previous year, the business earned $2.21 EPS. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. As a group, equities analysts predict that VeriSign, Inc. will post 9.56 earnings per share for the current fiscal year.

VeriSign Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, August 19th will be paid a $0.81 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.1%. VeriSign’s dividend payout ratio is presently 35.14%.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the stock. Weiss Ratings reissued a “buy (b-)” rating on shares of VeriSign in a report on Wednesday, June 24th. Wedbush upped their target price on VeriSign from $318.00 to $324.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Citigroup increased their target price on VeriSign from $295.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Robert W. Baird lifted their price target on VeriSign from $305.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Zacks Research upgraded VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has given a Hold rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $328.75.

Read Our Latest Stock Analysis on VRSN

VeriSign Company 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

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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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