VeriSign, Inc. $VRSN Shares Purchased by waypoint wealth counsel

waypoint wealth counsel raised its stake in shares of VeriSign, Inc. (NASDAQ:VRSN) by 107.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 2,120 shares of the information services provider’s stock after buying an additional 1,100 shares during the period. waypoint wealth counsel’s holdings in VeriSign were worth $612,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. Bruce G. Allen Investments LLC increased its stake in shares of VeriSign by 56.5% during the second quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 35 shares during the period. Whittier Trust Co. of Nevada Inc. increased its position in shares of VeriSign by 2.5% during the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,506 shares of the information services provider’s stock valued at $382,000 after purchasing an additional 37 shares during the period. Flputnam Investment Management Co. increased its position in shares of VeriSign by 1.8% during the 1st quarter. Flputnam Investment Management Co. now owns 2,183 shares of the information services provider’s stock valued at $554,000 after purchasing an additional 39 shares during the period. Advisors Asset Management Inc. increased its position in shares of 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 purchasing an additional 40 shares during the period. Finally, Cromwell Holdings LLC increased its position in shares of VeriSign by 32.3% during the 1st quarter. Cromwell Holdings LLC now owns 172 shares of the information services provider’s stock valued at $44,000 after purchasing an additional 42 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

Insiders Place Their Bets

In other VeriSign news, CEO D James Bidzos sold 5,000 shares of VeriSign stock in a transaction that occurred on Tuesday, August 19th. The shares were sold at an average price of $268.43, for a total transaction of $1,342,150.00. Following the transaction, the chief executive officer directly owned 498,304 shares in the company, valued at approximately $133,759,742.72. The trade was a 0.99% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In the last 90 days, insiders have sold 38,205 shares of company stock worth $10,577,083. Insiders own 0.84% of the company’s stock.

VeriSign Stock Down 0.4%

Shares of NASDAQ VRSN opened at $260.82 on Friday. The stock’s fifty day simple moving average is $275.45 and its 200 day simple moving average is $273.83. The stock has a market capitalization of $24.36 billion, a price-to-earnings ratio of 31.12 and a beta of 0.79. VeriSign, Inc. has a 52-week low of $175.62 and a 52-week high of $310.60.

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

VeriSign declared that its Board of Directors has authorized a share repurchase plan on Thursday, July 24th that allows the company to buyback $1.11 billion in outstanding shares. This buyback authorization allows the information services provider to buy up to 4.1% of its stock through open market purchases. Stock buyback plans are usually a sign that the company’s management believes its stock is undervalued.

VeriSign Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Stockholders of record on Tuesday, August 19th were given a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, August 19th. VeriSign’s dividend payout ratio (DPR) is 36.75%.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Robert W. Baird lifted their target price on VeriSign from $285.00 to $305.00 and gave the stock an “outperform” rating in a report on Tuesday, July 1st. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of VeriSign in a report on Wednesday. Finally, Citigroup reaffirmed a “buy” rating on shares of VeriSign in a research note on Tuesday, July 8th. One research analyst has rated the stock with a Strong Buy rating and three have assigned a Buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Buy” and a consensus target price of $277.50.

VeriSign 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.