Bessemer Group Inc. Has $645,000 Stock Position in VeriSign, Inc. $VRSN

Bessemer Group Inc. decreased its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 63.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,235 shares of the information services provider’s stock after selling 3,912 shares during the period. Bessemer Group Inc.’s holdings in VeriSign were worth $645,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Livelsberger Financial Advisory acquired a new stake in VeriSign during the second quarter valued at $27,000. Bruce G. Allen Investments LLC boosted its position 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 last quarter. Caitong International Asset Management Co. Ltd acquired a new stake in VeriSign during the first quarter valued at $34,000. Ameritas Advisory Services LLC acquired a new stake in VeriSign during the second quarter valued at $34,000. Finally, Bayforest Capital Ltd acquired a new stake in VeriSign during the second quarter valued at $34,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

Insider Activity at VeriSign

In related news, CEO D James Bidzos sold 5,000 shares of the business’s stock in a transaction dated Tuesday, August 12th. The stock was sold at an average price of $264.15, for a total transaction of $1,320,750.00. Following the transaction, the chief executive officer directly owned 508,772 shares in the company, valued at $134,392,123.80. The trade was a 0.97% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Insiders sold 45,706 shares of company stock valued at $12,451,906 in the last 90 days. Insiders own 0.84% of the company’s stock.

VeriSign Stock Performance

VeriSign stock opened at $239.80 on Friday. The business’s 50-day simple moving average is $270.60 and its 200-day simple moving average is $274.69. The firm has a market capitalization of $22.23 billion, a PE ratio of 27.95 and a beta of 0.79. VeriSign, Inc. has a 52 week low of $175.62 and a 52 week high of $310.60.

VeriSign (NASDAQ:VRSN) last posted 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 negative return on equity of 40.66% and a net margin of 49.86%.The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 earnings per share. VeriSign has set its FY 2025 guidance at EPS.

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

VeriSign Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 18th will be paid a $0.77 dividend. The ex-dividend date is Tuesday, November 18th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.3%. VeriSign’s payout ratio is presently 35.90%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Citigroup reaffirmed a “buy” rating on shares of VeriSign in a research report on Friday, October 24th. JPMorgan Chase & Co. assumed coverage on VeriSign in a research report on Tuesday, October 28th. They issued a “neutral” rating and a $270.00 price target for the company. Robert W. Baird set a $325.00 price target on VeriSign in a research report on Friday, October 24th. Zacks Research raised VeriSign to a “hold” rating in a research report on Thursday. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of VeriSign in a research report on Wednesday, October 8th. One analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company 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.