Verdence Capital Advisors LLC Purchases Shares of 1,363 VeriSign, Inc. $VRSN

Verdence Capital Advisors LLC purchased a new stake in VeriSign, Inc. (NASDAQ:VRSNFree Report) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 1,363 shares of the information services provider’s stock, valued at approximately $394,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bruce G. Allen Investments LLC grew its holdings in VeriSign by 56.5% during 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. Whittier Trust Co. of Nevada Inc. grew its holdings in VeriSign by 2.5% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,506 shares of the information services provider’s stock valued at $382,000 after purchasing an additional 37 shares during the period. Flputnam Investment Management Co. grew its holdings in VeriSign by 1.8% during the first quarter. Flputnam Investment Management Co. now owns 2,183 shares of the information services provider’s stock valued at $554,000 after purchasing an additional 39 shares during the period. Advisors Asset Management Inc. grew its holdings in VeriSign by 25.3% during the first quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock valued at $50,000 after purchasing an additional 40 shares during the period. Finally, Cromwell Holdings LLC grew its holdings in VeriSign by 32.3% during the first quarter. Cromwell Holdings LLC now owns 172 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 42 shares during the period. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Insider Buying and Selling

In related news, EVP Thomas C. Indelicarto sold 501 shares of the business’s stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $262.92, for a total value of $131,722.92. Following the sale, the executive vice president directly owned 34,189 shares in the company, valued at approximately $8,988,971.88. The trade was a 1.44% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO D James Bidzos sold 2,000 shares of the business’s stock in a transaction dated Wednesday, September 17th. The stock was sold at an average price of $288.48, for a total value of $576,960.00. Following the completion of the sale, the chief executive officer owned 476,439 shares in the company, valued at $137,443,122.72. This represents a 0.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 31,706 shares of company stock worth $8,735,706. Corporate insiders own 0.84% of the company’s stock.

VeriSign Stock Up 0.3%

NASDAQ VRSN opened at $265.74 on Thursday. The firm has a market cap of $24.82 billion, a price-to-earnings ratio of 31.71 and a beta of 0.79. VeriSign, Inc. has a twelve month low of $175.62 and a twelve month high of $310.60. The business has a 50-day moving average price of $275.15 and a 200-day moving average price of $273.93.

VeriSign (NASDAQ:VRSNGet Free Report) last posted its earnings results on Thursday, July 24th. The information services provider reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.01. The company had revenue of $409.90 million for the quarter, compared to the consensus estimate of $410.35 million. VeriSign had a negative return on equity of 40.87% and a net margin of 50.05%.The firm’s revenue for the quarter was up 5.9% on a year-over-year basis. During the same period in the previous year, the business earned $2.01 earnings per share. VeriSign has set its FY 2025 guidance at EPS.

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

VeriSign Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Tuesday, August 19th were given 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 was Tuesday, August 19th. VeriSign’s payout ratio is currently 36.75%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on the company. Robert W. Baird upped their price objective on VeriSign from $285.00 to $305.00 and gave the stock an “outperform” rating in a research note on Tuesday, July 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of VeriSign in a research note on Wednesday, October 8th. Finally, Citigroup reaffirmed a “buy” rating on shares of VeriSign in a research note on Tuesday, July 8th. One equities research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus price target of $277.50.

Check Out Our Latest Stock Analysis on VRSN

VeriSign Profile

(Free Report)

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.

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Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

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