TD Asset Management Inc Purchases 35,938 Shares of VeriSign, Inc. $VRSN

TD Asset Management Inc lifted its position in VeriSign, Inc. (NASDAQ:VRSN) by 6.0% in the 3rd quarter, Holdings Channel reports. The fund owned 630,122 shares of the information services provider’s stock after acquiring an additional 35,938 shares during the quarter. TD Asset Management Inc’s holdings in VeriSign were worth $176,163,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the company. Salomon & Ludwin LLC grew its stake in VeriSign by 112.5% in the third quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock worth $28,000 after purchasing an additional 54 shares during the period. Root Financial Partners LLC bought a new stake in shares of VeriSign during the 3rd quarter valued at $29,000. North Capital Inc. grew its position in shares of VeriSign by 239.0% in the 3rd quarter. North Capital Inc. now owns 139 shares of the information services provider’s stock worth $39,000 after buying an additional 98 shares during the period. Bruce G. Allen Investments LLC increased its stake in shares of VeriSign by 51.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 147 shares of the information services provider’s stock worth $41,000 after acquiring an additional 50 shares in the last quarter. Finally, Advisors Asset Management Inc. lifted its position in VeriSign by 25.3% during the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock valued at $50,000 after acquiring an additional 40 shares during the period. 92.90% of the stock is currently owned by institutional investors.

VeriSign Stock Up 0.5%

Shares of VRSN opened at $214.50 on Thursday. VeriSign, Inc. has a twelve month low of $208.86 and a twelve month high of $310.60. The company has a market capitalization of $19.67 billion, a P/E ratio of 24.35 and a beta of 0.75. The firm has a 50 day moving average of $238.39 and a 200 day moving average of $253.89.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.06). The business had revenue of $425.30 million during the quarter, compared to the consensus estimate of $424.04 million. VeriSign had a net margin of 49.84% and a negative return on equity of 40.40%. The business’s revenue was up 7.6% compared to the same quarter last year. During the same period last year, the company posted $2.00 earnings per share.

VeriSign Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Stockholders of record on Thursday, February 19th will be issued a dividend of $0.81 per share. The ex-dividend date of this dividend is Thursday, February 19th. This is an increase from VeriSign’s previous quarterly dividend of $0.77. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.5%. VeriSign’s dividend payout ratio is currently 36.78%.

Insider Buying and Selling at VeriSign

In other VeriSign news, EVP Thomas C. Indelicarto sold 166 shares of the company’s stock in a transaction dated Tuesday, February 10th. The shares were sold at an average price of $219.24, for a total transaction of $36,393.84. Following the transaction, the executive vice president owned 42,023 shares in the company, valued at approximately $9,213,122.52. This represents a 0.39% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO D James Bidzos sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $248.28, for a total transaction of $496,560.00. Following the sale, the chief executive officer directly owned 414,099 shares in the company, valued at approximately $102,812,499.72. The trade was a 0.48% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 23,662 shares of company stock worth $5,799,697 over the last ninety days. 0.84% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the stock. Zacks Research upgraded shares of VeriSign from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. Citigroup cut their price target on VeriSign from $337.00 to $280.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a research report on Monday, December 29th. Finally, JPMorgan Chase & Co. boosted their target price on VeriSign from $270.00 to $271.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $292.00.

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.