Illinois Municipal Retirement Fund decreased its stake in shares of VeriSign, Inc. (NASDAQ:VRSN – Free Report) by 11.9% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 64,032 shares of the information services provider’s stock after selling 8,608 shares during the quarter. Illinois Municipal Retirement Fund’s holdings in VeriSign were worth $18,058,000 at the end of the most recent quarter.
A number of other large investors also recently bought and sold shares of VRSN. Lido Advisors LLC grew its stake in shares of VeriSign by 18.6% during the 3rd quarter. Lido Advisors LLC now owns 3,849 shares of the information services provider’s stock valued at $1,086,000 after buying an additional 603 shares during the period. Keybank National Association OH acquired a new stake in shares of VeriSign during the 3rd quarter worth $221,000. AlphaCore Capital LLC raised its position in shares of VeriSign by 26.8% in the 3rd quarter. AlphaCore Capital LLC now owns 4,323 shares of the information services provider’s stock worth $1,219,000 after buying an additional 913 shares during the period. Allspring Global Investments Holdings LLC raised its position in shares of VeriSign by 44.9% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 8,705 shares of the information services provider’s stock worth $2,497,000 after buying an additional 2,699 shares during the period. Finally, Ethic Inc. raised its position in shares of VeriSign by 5.3% in the 3rd quarter. Ethic Inc. now owns 17,807 shares of the information services provider’s stock worth $5,022,000 after buying an additional 903 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.
Analysts Set New Price Targets
VRSN has been the topic of a number of research analyst reports. Weiss Ratings upgraded VeriSign from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. Zacks Research lowered VeriSign from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 23rd. Wedbush raised their price objective on VeriSign from $351.00 to $367.00 and gave the stock an “outperform” rating in a report on Monday, October 26th. JPMorgan Chase & Co. lifted their price objective on VeriSign from $308.00 to $316.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Citigroup boosted their target price on VeriSign from $325.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $352.00.
View Our Latest Stock Report on VeriSign
VeriSign Stock Up 1.0%
VRSN opened at $314.09 on Thursday. VeriSign, Inc. has a 52-week low of $208.86 and a 52-week high of $324.63. The company has a 50 day moving average of $299.37 and a two-hundred day moving average of $273.85. The company has a market cap of $28.17 billion, a P/E ratio of 33.77 and a beta of 0.66.
VeriSign (NASDAQ:VRSN – Get Free Report) last issued its earnings results on Thursday, October 22nd. The information services provider reported $2.35 EPS for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.11). VeriSign had a net margin of 49.06% and a negative return on equity of 38.40%. The business had revenue of $443.00 million during the quarter, compared to analysts’ expectations of $440.58 million. During the same period in the prior year, the business posted $2.27 EPS. The business’s revenue was up 5.7% on a year-over-year basis. Research analysts anticipate that VeriSign, Inc. will post 9.57 earnings per share for the current year.
VeriSign Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, November 24th. Investors of record on Tuesday, November 17th will be given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Tuesday, November 17th. VeriSign’s dividend payout ratio is 34.84%.
Insider Activity at VeriSign
In other VeriSign news, EVP Thomas Indelicarto sold 500 shares of the firm’s stock in a transaction dated Monday, November 9th. The stock was sold at an average price of $310.07, for a total value of $155,035.00. Following the transaction, the executive vice president directly owned 30,895 shares of the company’s stock, valued at $9,579,612.65. This trade represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO D. Bidzos sold 3,300 shares of the firm’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $311.99, for a total value of $1,029,567.00. Following the completion of the transaction, the chief executive officer directly owned 365,227 shares in the company, valued at $113,947,171.73. This trade represents a 0.90% 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. In the last three months, insiders sold 45,856 shares of company stock worth $13,565,663. Corporate insiders own 0.56% of the company’s stock.
VeriSign Company Profile
VeriSign, Inc. operates critical internet infrastructure, best known for managing the domain-name registries for .com and .net. It provides the systems that allow domain names in these extensions to be registered and resolved through the Domain Name System, working with registrars that serve businesses and individuals. The company also provides registry services for other domain extensions and supports the security and stability of the internet’s naming infrastructure. Its services are used globally through a network of registrars and other internet service providers.
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