Ninety One UK Ltd Reduces Stock Position in VeriSign, Inc. $VRSN

by · The Markets Daily

Ninety One UK Ltd lessened its holdings in VeriSign, Inc. (NASDAQ:VRSNFree Report) by 23.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 2,110,069 shares of the information services provider’s stock after selling 636,951 shares during the period. VeriSign makes up approximately 1.3% of Ninety One UK Ltd’s holdings, making the stock its 21st biggest holding. Ninety One UK Ltd’s holdings in VeriSign were worth $589,912,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in VRSN. Vanguard Group Inc. boosted its stake in shares of VeriSign by 0.7% during the second quarter. Vanguard Group Inc. now owns 10,582,645 shares of the information services provider’s stock valued at $3,056,268,000 after purchasing an additional 68,355 shares during the period. State Street Corp lifted its holdings in VeriSign by 1.9% during the 2nd quarter. State Street Corp now owns 3,932,243 shares of the information services provider’s stock valued at $1,135,632,000 after buying an additional 73,931 shares in the last quarter. AQR Capital Management LLC boosted its position in VeriSign by 32.9% in the 2nd quarter. AQR Capital Management LLC now owns 3,097,003 shares of the information services provider’s stock valued at $894,414,000 after buying an additional 767,363 shares during the period. Geode Capital Management LLC grew its stake in VeriSign by 2.0% in the 2nd quarter. Geode Capital Management LLC now owns 2,326,799 shares of the information services provider’s stock worth $670,685,000 after acquiring an additional 44,751 shares in the last quarter. Finally, Amundi grew its stake in VeriSign by 71.3% in the 1st quarter. Amundi now owns 1,202,278 shares of the information services provider’s stock worth $307,098,000 after acquiring an additional 500,223 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors.

VeriSign Stock Down 1.2%

Shares of NASDAQ:VRSN opened at $242.95 on Thursday. The firm has a 50 day moving average of $246.32 and a 200 day moving average of $266.63. The company has a market capitalization of $22.52 billion, a price-to-earnings ratio of 28.32 and a beta of 0.78. VeriSign, Inc. has a 52 week low of $203.66 and a 52 week high of $310.60.

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

VeriSign Announces Dividend

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

Insider Transactions at VeriSign

In other VeriSign news, EVP Danny R. Mcpherson sold 2,500 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $236.87, for a total transaction of $592,175.00. Following the completion of the sale, the executive vice president directly owned 28,577 shares of the company’s stock, valued at approximately $6,769,033.99. This represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO D James Bidzos sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $265.57, for a total transaction of $1,327,850.00. Following the completion of the sale, the chief executive officer owned 471,439 shares in the company, valued at $125,200,055.23. This represents a 1.05% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 47,839 shares of company stock valued at $12,042,404 over the last quarter. 0.84% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on VRSN. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a research note on Monday. Zacks Research downgraded VeriSign from a “hold” rating to a “strong sell” rating in a report on Tuesday. Citigroup reiterated a “buy” rating on shares of VeriSign in a report on Friday, October 24th. Robert W. Baird set a $325.00 price target on VeriSign in a research report on Friday, October 24th. Finally, JPMorgan Chase & Co. began coverage on VeriSign in a research note on Tuesday, October 28th. They set a “neutral” rating and a $270.00 price target on the stock. Two investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $281.67.

Check Out Our Latest Analysis on VeriSign

VeriSign Company Profile

(Free Report)

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.

Further Reading

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