951 Shares in VeriSign, Inc. $VRSN Acquired by Yeomans Consulting Group Inc.

Yeomans Consulting Group Inc. acquired a new stake in VeriSign, Inc. (NASDAQ:VRSN) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 951 shares of the information services provider’s stock, valued at approximately $275,000.

A number of other hedge funds also recently made changes to their positions in VRSN. Livelsberger Financial Advisory acquired a new position in shares of VeriSign during the second quarter worth $27,000. Bruce G. Allen Investments LLC increased its stake in VeriSign by 56.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock worth $28,000 after buying an additional 35 shares during the period. Rakuten Securities Inc. lifted its holdings in VeriSign by 13,000.0% in the 1st quarter. Rakuten Securities Inc. now owns 131 shares of the information services provider’s stock worth $33,000 after buying an additional 130 shares in the last quarter. Caitong International Asset Management Co. Ltd acquired a new position in VeriSign in the 1st quarter worth $34,000. Finally, UMB Bank n.a. boosted its position in VeriSign by 106.5% in the 1st quarter. UMB Bank n.a. now owns 159 shares of the information services provider’s stock valued at $40,000 after buying an additional 82 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

VeriSign Stock Performance

Shares of VeriSign stock opened at $275.44 on Friday. VeriSign, Inc. has a 1 year low of $175.62 and a 1 year high of $310.60. The firm’s 50-day simple moving average is $277.16 and its 200-day simple moving average is $272.65. The firm has a market cap of $25.73 billion, a PE ratio of 32.87 and a beta of 0.79.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, July 24th. The information services provider reported $2.21 EPS for the quarter, topping analysts’ consensus estimates of $2.20 by $0.01. VeriSign had a negative return on equity of 40.87% and a net margin of 50.05%.The business had revenue of $409.90 million during the quarter, compared to the consensus estimate of $410.35 million. During the same period last year, the firm earned $2.01 earnings per share. The company’s revenue for the quarter was up 5.9% compared to the same quarter last year. VeriSign has set its FY 2025 guidance at EPS.

VeriSign declared that its board has approved a stock buyback plan on Thursday, July 24th that allows the company to repurchase $1.11 billion in shares. This repurchase authorization allows the information services provider to repurchase up to 4.1% of its shares through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.

VeriSign Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Tuesday, August 19th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.1%. The ex-dividend date was Tuesday, August 19th. VeriSign’s payout ratio is 36.75%.

Insider Activity at VeriSign

In related news, EVP Thomas C. Indelicarto sold 501 shares of the firm’s stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $282.28, for a total transaction of $141,422.28. Following the transaction, the executive vice president directly owned 35,191 shares in the company, valued at $9,933,715.48. This trade represents a 1.40% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO D James Bidzos sold 2,000 shares of VeriSign stock in a transaction on Wednesday, September 17th. The stock was sold at an average price of $288.48, for a total transaction of $576,960.00. Following the completion of the transaction, the chief executive officer directly owned 476,439 shares of the company’s stock, valued at approximately $137,443,122.72. This represents a 0.42% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 45,205 shares of company stock valued at $12,587,894. Corporate insiders own 0.84% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently issued reports on VRSN shares. Citigroup reaffirmed a “buy” rating on shares of VeriSign in a research report on Tuesday, July 8th. Robert W. Baird raised their price objective on VeriSign from $285.00 to $305.00 and gave the company an “outperform” rating in a research note on Tuesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating and two have assigned a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $277.50.

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.