VIRGINIA RETIREMENT SYSTEMS ET Al Has $125.02 Million Stock Position in VeriSign, Inc. $VRSN

VIRGINIA RETIREMENT SYSTEMS ET Al increased its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 4.1% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 447,191 shares of the information services provider’s stock after acquiring an additional 17,600 shares during the period. VeriSign comprises 0.8% of VIRGINIA RETIREMENT SYSTEMS ET Al’s investment portfolio, making the stock its 17th biggest holding. VIRGINIA RETIREMENT SYSTEMS ET Al owned 0.48% of VeriSign worth $125,021,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the stock. Livelsberger Financial Advisory purchased a new stake in shares of VeriSign in the second quarter worth approximately $27,000. Bruce G. Allen Investments LLC raised its position in VeriSign by 56.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock valued at $28,000 after buying an additional 35 shares during the last quarter. Ameritas Advisory Services LLC purchased a new stake in VeriSign in the 2nd quarter valued at $34,000. Bayforest Capital Ltd bought a new position in VeriSign during the 2nd quarter valued at $34,000. Finally, North Capital Inc. boosted its holdings in VeriSign by 239.0% during the 3rd quarter. North Capital Inc. now owns 139 shares of the information services provider’s stock worth $39,000 after acquiring an additional 98 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

VeriSign Stock Performance

Shares of VeriSign stock opened at $245.92 on Wednesday. The stock has a market capitalization of $22.80 billion, a P/E ratio of 28.66 and a beta of 0.78. VeriSign, Inc. has a 52-week low of $203.66 and a 52-week high of $310.60. The stock’s 50-day simple moving average is $246.50 and its 200 day simple moving average is $266.79.

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

VeriSign Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 18th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $3.08 dividend on an annualized basis and a yield of 1.3%. VeriSign’s payout ratio is presently 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, 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. This trade represents a 0.47% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas C. Indelicarto sold 501 shares of the business’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $250.07, for a total value of $125,285.07. Following the sale, the executive vice president owned 31,609 shares in the company, valued at approximately $7,904,462.63. The trade was a 1.56% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders have sold 47,839 shares of company stock worth $12,042,404. Company insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on VRSN. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a research report on Monday. Citigroup reissued a “buy” rating on shares of VeriSign in a report on Friday, October 24th. JPMorgan Chase & Co. started coverage on shares of VeriSign in a research report on Tuesday, October 28th. They set a “neutral” rating and a $270.00 price target for the company. Zacks Research raised shares of VeriSign to a “hold” rating in a research report on Thursday, October 30th. Finally, Robert W. Baird set a $325.00 target price on shares of VeriSign in a research report on Friday, October 24th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, VeriSign presently has an average rating of “Hold” and an average price target of $281.67.

VeriSign Profile

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.