Nykredit A S acquired a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN – Free Report) in the second quarter, Holdings Channel.com reports. The firm acquired 19,608 shares of the information services provider’s stock, valued at approximately $4,933,000.
A number of other large investors have also modified their holdings of VRSN. Berkshire Hathaway Inc acquired a new position in VeriSign during the second quarter worth $2,261,494,000. BlackRock Inc. bought a new position in shares of VeriSign in the second quarter worth about $2,116,154,000. Norges Bank bought a new position in VeriSign in the 4th quarter worth approximately $312,900,000. Legal & General Group Plc bought a new stake in shares of VeriSign during the second quarter worth $172,641,000. Finally, Hawk Ridge Capital Management LP bought a new stake in VeriSign during the 4th quarter worth about $149,686,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.
VeriSign Price Performance
VRSN opened at $292.08 on Monday. The business has a 50 day moving average of $279.03 and a 200-day moving average of $269.23. VeriSign, Inc. has a 12-month low of $208.86 and a 12-month high of $312.48. The stock has a market cap of $26.37 billion, a price-to-earnings ratio of 31.68 and a beta of 0.70.
VeriSign Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 27th. Investors of record on Wednesday, August 19th were issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 1.1%. The ex-dividend date of this dividend was Wednesday, August 19th. VeriSign’s dividend payout ratio (DPR) is presently 35.14%.
Insider Activity
In related news, EVP Thomas C. Indelicarto sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $290.78, for a total value of $145,390.00. Following the completion of the sale, the executive vice president directly owned 33,395 shares in the company, valued at approximately $9,710,598.10. The trade was a 1.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP John Calys sold 500 shares of the company’s stock in a transaction 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 sale, the executive vice president owned 31,087 shares of the company’s stock, valued at approximately $8,752,855.72. The trade was a 1.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 39,800 shares of company stock valued at $10,998,235. 0.56% of the stock is owned by company insiders.
Analyst Upgrades and Downgrades
A number of research analysts have recently weighed in on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of VeriSign in a research note on Wednesday, June 24th. Zacks Research upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. JPMorgan Chase & Co. boosted their price target on VeriSign from $308.00 to $316.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Wedbush boosted their price objective on shares of VeriSign from $324.00 to $341.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $333.00.
Read Our Latest Stock Analysis on VRSN
VeriSign Profile
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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