Swedbank AB Has $17.59 Million Stock Holdings in VeriSign, Inc. $VRSN

Swedbank AB decreased its position in VeriSign, Inc. (NASDAQ:VRSN) by 6.1% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 62,926 shares of the information services provider’s stock after selling 4,092 shares during the period. Swedbank AB owned about 0.07% of VeriSign worth $17,592,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of VRSN. Norges Bank bought a new stake in shares of VeriSign during the second quarter valued at approximately $300,249,000. AQR Capital Management LLC boosted its stake in VeriSign by 75.5% during the first quarter. AQR Capital Management LLC now owns 2,329,640 shares of the information services provider’s stock worth $586,417,000 after buying an additional 1,002,510 shares in the last quarter. Alliancebernstein L.P. boosted its stake in VeriSign by 477.1% during the first quarter. Alliancebernstein L.P. now owns 791,271 shares of the information services provider’s stock worth $200,880,000 after buying an additional 654,170 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its holdings in VeriSign by 161.4% in the 2nd quarter. Robeco Institutional Asset Management B.V. now owns 860,068 shares of the information services provider’s stock valued at $248,388,000 after buying an additional 531,041 shares during the period. Finally, Amundi raised its stake in shares of VeriSign by 71.3% in the 1st quarter. Amundi now owns 1,202,278 shares of the information services provider’s stock valued at $307,098,000 after buying an additional 500,223 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

VeriSign Trading Up 0.2%

NASDAQ VRSN opened at $246.32 on Friday. VeriSign, Inc. has a 1-year low of $201.93 and a 1-year high of $310.60. The company has a 50 day moving average of $247.35 and a 200-day moving average of $267.46. The firm has a market cap of $22.83 billion, a price-to-earnings ratio of 28.71 and a beta of 0.78.

VeriSign (NASDAQ:VRSN) last announced its earnings results on Thursday, October 23rd. The information services provider reported $2.27 EPS for the quarter, topping the consensus estimate of $2.25 by $0.02. VeriSign had a negative return on equity of 40.66% and a net margin of 49.86%.The business had revenue of $419.10 million for the quarter, compared to the consensus estimate of $416.71 million. During the same period in the previous year, the business earned $2.07 EPS. VeriSign’s revenue was up 7.3% compared to the same quarter last year.

VeriSign Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 18th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, November 18th. VeriSign’s dividend payout ratio is presently 35.90%.

Insiders Place Their Bets

In related news, CEO D James Bidzos sold 2,000 shares of VeriSign stock in a transaction dated Wednesday, December 17th. The stock was sold at an average price of $244.25, for a total value of $488,500.00. Following the completion of the transaction, the chief executive officer directly owned 423,099 shares of the company’s stock, valued at $103,341,930.75. The trade was a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas C. Indelicarto sold 501 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $250.07, for a total transaction of $125,285.07. Following the transaction, the executive vice president owned 31,609 shares in the company, valued at approximately $7,904,462.63. This trade represents a 1.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 47,839 shares of company stock valued at $12,042,404. 0.84% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of VeriSign in a research report on Monday. JPMorgan Chase & Co. started coverage on shares of VeriSign in a research note on Tuesday, October 28th. They set a “neutral” rating and a $270.00 price target for the company. Zacks Research raised VeriSign to a “hold” rating in a report on Thursday, October 30th. Robert W. Baird set a $325.00 target price on VeriSign in a report on Friday, October 24th. Finally, Citigroup restated a “buy” rating on shares of VeriSign in a research report on Friday, October 24th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, VeriSign currently has an average rating of “Hold” and an average target price of $281.67.

About VeriSign

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.