Andra AP fonden Purchases 58,600 Shares of VeriSign, Inc. $VRSN

Andra AP fonden increased its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 98.2% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 118,300 shares of the information services provider’s stock after purchasing an additional 58,600 shares during the period. Andra AP fonden owned about 0.13% of VeriSign worth $34,165,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Quarry LP bought a new position in VeriSign during the 1st quarter valued at about $641,000. Canada Pension Plan Investment Board increased its holdings in shares of VeriSign by 118.3% during the first quarter. Canada Pension Plan Investment Board now owns 220,285 shares of the information services provider’s stock worth $55,924,000 after buying an additional 119,368 shares in the last quarter. Gabelli Funds LLC bought a new position in shares of VeriSign in the first quarter valued at approximately $508,000. Gamco Investors INC. ET AL acquired a new position in shares of VeriSign in the 1st quarter worth approximately $351,000. Finally, Peak Financial Advisors LLC acquired a new position in shares of VeriSign in the 2nd quarter worth approximately $2,664,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

VeriSign Stock Up 1.6%

Shares of VRSN stock opened at $244.03 on Thursday. The firm has a market cap of $22.62 billion, a price-to-earnings ratio of 28.44 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 stock has a 50-day moving average price of $269.00 and a 200 day moving average price of $274.62.

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

VeriSign announced that its Board of Directors has initiated a stock repurchase 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 repurchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s management believes its shares are undervalued.

VeriSign Dividend Announcement

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

Insider Buying and Selling at VeriSign

In other news, CEO D James Bidzos sold 2,000 shares of the firm’s stock in a transaction on Wednesday, October 22nd. The stock was sold at an average price of $261.54, for a total value of $523,080.00. Following the transaction, the chief executive officer directly owned 460,439 shares in the company, valued at $120,423,216.06. This trade represents a 0.43% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Thomas C. Indelicarto sold 334 shares of VeriSign stock in a transaction on 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 directly owned 33,855 shares of the company’s stock, valued at approximately $8,278,224.60. This trade represents a 0.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 48,039 shares of company stock worth $12,990,731. Insiders own 0.84% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on VRSN. Robert W. Baird set a $325.00 price target on VeriSign in a report on Friday, October 24th. JPMorgan Chase & Co. initiated coverage on VeriSign in a report on Tuesday, October 28th. They set a “neutral” rating and a $270.00 target price on the stock. Citigroup reaffirmed a “buy” rating on shares of VeriSign in a report on Friday, October 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of VeriSign in a report on Wednesday, October 8th. Finally, Zacks Research upgraded shares of VeriSign to a “hold” rating in a research report on Thursday, October 30th. One research 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. According to MarketBeat.com, VeriSign currently has an average rating of “Moderate Buy” and an average target price of $281.67.

VeriSign Company 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.