Parsifal Capital Management LP Invests $30.31 Billion in VeriSign, Inc. $VRSN

Parsifal Capital Management LP acquired a new stake in VeriSign, Inc. (NASDAQ:VRSNFree Report) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 120,484 shares of the information services provider’s stock, valued at approximately $30,308,955,000. VeriSign accounts for 3.7% of Parsifal Capital Management LP’s investment portfolio, making the stock its 11th largest position. Parsifal Capital Management LP owned 0.13% of VeriSign as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Danske Bank A S boosted its position in shares of VeriSign by 23.5% in the fourth quarter. Danske Bank A S now owns 64,246 shares of the information services provider’s stock worth $15,609,000 after acquiring an additional 12,220 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its holdings in VeriSign by 2.2% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 174,140 shares of the information services provider’s stock valued at $41,886,000 after purchasing an additional 3,691 shares during the period. Fifth Third Bancorp increased its position in VeriSign by 208.5% during the first quarter. Fifth Third Bancorp now owns 13,385 shares of the information services provider’s stock worth $3,324,000 after purchasing an additional 9,046 shares during the last quarter. Jefferies Financial Group Inc. increased its position in VeriSign by 47.5% during the fourth quarter. Jefferies Financial Group Inc. now owns 16,352 shares of the information services provider’s stock worth $3,973,000 after purchasing an additional 5,267 shares during the last quarter. Finally, Kepler Cheuvreux Suisse SA acquired a new position in VeriSign during the fourth quarter worth approximately $13,636,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VRSN has been the topic of a number of research analyst reports. Zacks Research upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Weiss Ratings restated a “buy (b-)” rating on shares of VeriSign in a report on Wednesday, June 24th. Wedbush upped their price objective on VeriSign from $318.00 to $324.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. increased their target price on VeriSign from $308.00 to $316.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $328.75.

Check Out Our Latest Research Report on VRSN

Insider Transactions at VeriSign

In related news, EVP John Calys sold 500 shares of VeriSign stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $281.56, for a total transaction of $140,780.00. Following the transaction, the executive vice president owned 31,087 shares in the company, valued at approximately $8,752,855.72. The trade was a 1.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO D James Bidzos sold 3,300 shares of the company’s stock in a transaction on Tuesday, August 18th. The stock was sold at an average price of $277.85, for a total transaction of $916,905.00. Following the sale, the chief executive officer directly owned 401,389 shares of the company’s stock, valued at approximately $111,525,933.65. This trade represents a 0.82% 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. Insiders sold 36,500 shares of company stock valued at $10,059,796 over the last 90 days. Corporate insiders own 0.56% of the company’s stock.

VeriSign Price Performance

NASDAQ VRSN opened at $281.80 on Monday. VeriSign, Inc. has a 1-year low of $208.86 and a 1-year high of $312.48. The firm has a market capitalization of $25.45 billion, a P/E ratio of 30.56 and a beta of 0.70. The business’s 50-day simple moving average is $272.60 and its 200-day simple moving average is $264.63.

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

VeriSign Dividend Announcement

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

About VeriSign

(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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