VeriSign, Inc. $VRSN Shares Bought by Intech Investment Management LLC

Intech Investment Management LLC grew its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 26.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 61,910 shares of the information services provider’s stock after buying an additional 12,888 shares during the quarter. Intech Investment Management LLC owned about 0.07% of VeriSign worth $17,880,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Livelsberger Financial Advisory purchased a new stake in shares of VeriSign during the 2nd quarter worth $27,000. Bruce G. Allen Investments LLC lifted its stake in shares of VeriSign by 56.5% in the second quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 35 shares during the period. Bayforest Capital Ltd purchased a new stake in VeriSign during the second quarter worth about $34,000. Ameritas Advisory Services LLC acquired a new position in VeriSign during the second quarter worth about $34,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in VeriSign in the first quarter valued at about $34,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

VeriSign Price Performance

NASDAQ VRSN opened at $252.88 on Friday. The company has a market cap of $23.44 billion, a P/E ratio of 29.47 and a beta of 0.76. VeriSign, Inc. has a 12 month low of $176.62 and a 12 month high of $310.60. The company has a 50-day moving average of $265.20 and a 200-day moving average of $274.04.

VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.25 by $0.02. The firm had revenue of $419.10 million during the quarter, compared to the consensus estimate of $416.71 million. VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. VeriSign’s revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.07 earnings per share. VeriSign has set its FY 2025 guidance at EPS.

VeriSign declared that its board has authorized a stock buyback plan on Thursday, July 24th that allows the company to buyback $1.11 billion in outstanding shares. This buyback authorization allows the information services provider to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s management believes its stock is undervalued.

VeriSign Announces Dividend

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

Insider Transactions at VeriSign

In other news, EVP John Calys sold 1,001 shares of the firm’s stock in a transaction dated Friday, November 7th. The stock was sold at an average price of $242.71, for a total value of $242,952.71. Following the transaction, the executive vice president directly owned 24,734 shares in the company, valued at $6,003,189.14. This trade represents a 3.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Thomas C. Indelicarto sold 334 shares of the business’s stock in a transaction dated Tuesday, November 4th. The stock was sold at an average price of $244.52, for a total value of $81,669.68. Following the sale, the executive vice president owned 33,855 shares of the company’s stock, valued at $8,278,224.60. The trade was a 0.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 48,539 shares of company stock valued at $12,990,759. Insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

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

About VeriSign

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.