Rhumbline Advisers Boosts Holdings in VeriSign, Inc. $VRSN

Rhumbline Advisers boosted its stake in VeriSign, Inc. (NASDAQ:VRSN) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 318,338 shares of the information services provider’s stock after acquiring an additional 6,471 shares during the period. Rhumbline Advisers’ holdings in VeriSign were worth $88,998,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently modified their holdings of VRSN. Advisors Asset Management Inc. raised its holdings in shares of VeriSign by 25.3% in the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock worth $50,000 after purchasing an additional 40 shares during the period. Integrated Wealth Concepts LLC increased its position in VeriSign by 12.3% in the first quarter. Integrated Wealth Concepts LLC now owns 1,232 shares of the information services provider’s stock worth $313,000 after buying an additional 135 shares during the last quarter. NewEdge Advisors LLC raised its stake in shares of VeriSign by 104.5% in the first quarter. NewEdge Advisors LLC now owns 4,125 shares of the information services provider’s stock valued at $1,047,000 after buying an additional 2,108 shares during the period. Jones Financial Companies Lllp raised its stake in shares of VeriSign by 122.1% in the first quarter. Jones Financial Companies Lllp now owns 3,358 shares of the information services provider’s stock valued at $852,000 after buying an additional 1,846 shares during the period. Finally, Empowered Funds LLC lifted its position in shares of VeriSign by 2.0% during the 1st quarter. Empowered Funds LLC now owns 9,346 shares of the information services provider’s stock valued at $2,373,000 after buying an additional 186 shares during the last quarter. 92.90% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, EVP Thomas C. Indelicarto sold 166 shares of the firm’s stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $219.24, for a total value of $36,393.84. Following the sale, the executive vice president directly owned 42,023 shares of the company’s stock, valued at $9,213,122.52. This trade represents a 0.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO D James Bidzos sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $248.28, for a total transaction of $496,560.00. Following the completion of the transaction, the chief executive officer directly owned 414,099 shares of the company’s stock, valued at approximately $102,812,499.72. This represents a 0.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 30,662 shares of company stock worth $7,542,047 in the last quarter. 0.84% of the stock is currently owned by company insiders.

VeriSign Stock Up 1.1%

Shares of VRSN opened at $218.15 on Friday. VeriSign, Inc. has a twelve month low of $208.86 and a twelve month high of $310.60. The stock has a market cap of $20.00 billion, a PE ratio of 24.76 and a beta of 0.75. The business’s 50-day moving average price is $243.47 and its 200-day moving average price is $257.65.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.06). The firm had revenue of $425.30 million for the quarter, compared to analysts’ expectations of $424.04 million. VeriSign had a net margin of 49.84% and a negative return on equity of 40.40%. VeriSign’s revenue was up 7.6% on a year-over-year basis. During the same period in the prior year, the firm posted $2.00 EPS.

VeriSign Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 19th will be issued a $0.81 dividend. The ex-dividend date of this dividend is Thursday, February 19th. This is an increase from VeriSign’s previous quarterly dividend of $0.77. This represents a $3.24 annualized dividend and a dividend yield of 1.5%. VeriSign’s payout ratio is currently 34.96%.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on VRSN shares. Citigroup decreased their price objective on VeriSign from $337.00 to $280.00 and set a “buy” rating for the company in a report on Monday. Zacks Research upgraded shares of VeriSign from a “strong sell” rating to a “hold” rating in a research report on Monday. JPMorgan Chase & Co. boosted their price target on shares of VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a research report on Tuesday, January 6th. Robert W. Baird set a $325.00 price target on shares of VeriSign in a research note on Friday, October 24th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of VeriSign in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $292.00.

VeriSign Company 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.