Resonant Capital Advisors LLC Takes $226,000 Position in VeriSign, Inc. $VRSN

Resonant Capital Advisors LLC acquired a new position in shares of VeriSign, Inc. (NASDAQ:VRSN) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 782 shares of the information services provider’s stock, valued at approximately $226,000.

Several other institutional investors have also recently bought and sold shares of VRSN. AQR Capital Management LLC grew its stake in shares of VeriSign by 75.5% during the 1st quarter. AQR Capital Management LLC now owns 2,329,640 shares of the information services provider’s stock worth $586,417,000 after acquiring an additional 1,002,510 shares in the last quarter. Alliancebernstein L.P. boosted its holdings in VeriSign by 477.1% during the first quarter. Alliancebernstein L.P. now owns 791,271 shares of the information services provider’s stock worth $200,880,000 after purchasing an additional 654,170 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in VeriSign by 161.4% during the second quarter. Robeco Institutional Asset Management B.V. now owns 860,068 shares of the information services provider’s stock worth $248,388,000 after purchasing an additional 531,041 shares during the last quarter. Amundi grew its position in VeriSign by 71.3% in the first quarter. Amundi now owns 1,202,278 shares of the information services provider’s stock valued at $307,098,000 after purchasing an additional 500,223 shares in the last quarter. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in VeriSign in the 2nd quarter valued at $124,066,000. Institutional investors own 92.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on VRSN shares. Robert W. Baird set a $325.00 price objective on shares of VeriSign in a research note on Friday. Citigroup reiterated a “buy” rating on shares of VeriSign in a report on Friday. JPMorgan Chase & Co. assumed coverage on VeriSign in a research report on Tuesday. They set a “neutral” rating and a $270.00 price target for the company. Finally, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of VeriSign in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $281.67.

Insider Transactions at VeriSign

In related news, EVP Thomas C. Indelicarto sold 501 shares of VeriSign stock in a transaction dated Tuesday, October 14th. The shares were sold at an average price of $262.92, for a total transaction of $131,722.92. Following the completion of the sale, the executive vice president owned 34,189 shares of the company’s stock, valued at approximately $8,988,971.88. The trade was a 1.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO D James Bidzos sold 2,000 shares of the stock in a transaction dated Wednesday, October 22nd. The shares were sold at an average price of $261.54, for a total transaction of $523,080.00. Following the completion of the transaction, the chief executive officer directly owned 460,439 shares in the company, valued at approximately $120,423,216.06. This represents a 0.43% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 45,706 shares of company stock valued at $12,451,906. 0.84% of the stock is currently owned by corporate insiders.

VeriSign Stock Performance

VeriSign stock opened at $240.37 on Wednesday. The stock has a 50-day simple moving average of $272.70 and a 200 day simple moving average of $274.95. The stock has a market capitalization of $22.28 billion, a P/E ratio of 28.02 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 released its quarterly earnings data 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 company had revenue of $419.10 million during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period last year, the firm posted $2.07 earnings per share. VeriSign has set its FY 2025 guidance at EPS.

VeriSign Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 18th will be given a $0.77 dividend. The ex-dividend date of this dividend is Tuesday, November 18th. This represents a $3.08 annualized dividend and a dividend yield of 1.3%. VeriSign’s dividend payout ratio is presently 35.90%.

VeriSign announced that its board has authorized a share buyback program on Thursday, July 24th that permits the company to buyback $1.11 billion in shares. This buyback authorization permits the information services provider to reacquire up to 4.1% of its shares through open market purchases. Shares buyback programs are typically a sign that the company’s board believes its shares are undervalued.

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.