Banco Bilbao Vizcaya Argentaria S.A. Has $11.69 Million Stake in VeriSign, Inc. $VRSN

Banco Bilbao Vizcaya Argentaria S.A. trimmed its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 0.8% in the second quarter, HoldingsChannel reports. The institutional investor owned 40,459 shares of the information services provider’s stock after selling 325 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.’s holdings in VeriSign were worth $11,685,000 at the end of the most recent quarter.

Other large investors have also bought and sold shares of the company. Fiera Capital Corp acquired a new stake in VeriSign during the 2nd quarter worth $460,000. Candriam S.C.A. boosted its position in shares of VeriSign by 274.3% in the 2nd quarter. Candriam S.C.A. now owns 32,025 shares of the information services provider’s stock worth $9,249,000 after purchasing an additional 23,470 shares during the last quarter. Geode Capital Management LLC grew its stake in shares of VeriSign by 2.0% during the second quarter. Geode Capital Management LLC now owns 2,326,799 shares of the information services provider’s stock worth $670,685,000 after purchasing an additional 44,751 shares during the period. PNC Financial Services Group Inc. increased its holdings in VeriSign by 17.9% in the second quarter. PNC Financial Services Group Inc. now owns 11,336 shares of the information services provider’s stock valued at $3,274,000 after purchasing an additional 1,721 shares during the last quarter. Finally, Forsta AP Fonden increased its holdings in VeriSign by 10.4% in the second quarter. Forsta AP Fonden now owns 15,900 shares of the information services provider’s stock valued at $4,592,000 after purchasing an additional 1,500 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

VeriSign Stock Up 0.5%

VeriSign stock opened at $252.88 on Friday. The company has a 50 day moving average of $265.20 and a 200-day moving average of $274.04. VeriSign, Inc. has a twelve month low of $176.62 and a twelve month high of $310.60. The stock has a market capitalization of $23.44 billion, a PE ratio of 29.47 and a beta of 0.76.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, October 23rd. The information services provider reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.02. The business had revenue of $419.10 million for the quarter, compared to analyst estimates of $416.71 million. VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. The firm’s quarterly revenue was up 7.3% on a year-over-year basis. During the same period last year, the business posted $2.07 earnings per share. VeriSign has set its FY 2025 guidance at EPS.

VeriSign Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 18th will be issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, November 18th. VeriSign’s payout ratio is 35.90%.

VeriSign announced that its board has initiated a share buyback plan on Thursday, July 24th that allows the company to repurchase $1.11 billion in outstanding shares. This repurchase authorization allows the information services provider to purchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are typically a sign that the company’s leadership believes its shares are undervalued.

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. JPMorgan Chase & Co. assumed coverage on VeriSign in a report on Tuesday, October 28th. They set a “neutral” rating and a $270.00 target price on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of VeriSign in a research report on Thursday. Robert W. Baird set a $325.00 price objective on shares of VeriSign in a research note on Friday, October 24th. Citigroup reaffirmed a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. Finally, Zacks Research upgraded shares of VeriSign to a “hold” rating in a report on Thursday, October 30th. One research analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $281.67.

Insider Activity

In related news, EVP Danny R. Mcpherson sold 2,500 shares of the stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $236.87, for a total transaction of $592,175.00. Following the completion of the transaction, the executive vice president directly owned 28,577 shares in the company, valued at approximately $6,769,033.99. This trade represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO D James Bidzos sold 5,000 shares of VeriSign stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $283.24, for a total value of $1,416,200.00. Following the completion of the sale, the chief executive officer directly owned 489,439 shares in the company, valued at approximately $138,628,702.36. This represents a 1.01% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 48,539 shares of company stock valued at $12,990,759 over the last ninety days. 0.84% of the stock is owned by insiders.

VeriSign Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.