Voya Investment Management LLC Trims Holdings in VeriSign, Inc. $VRSN
by Tristan Rich · The Markets DailyVoya Investment Management LLC lessened its stake in VeriSign, Inc. (NASDAQ:VRSN – Free Report) by 21.4% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 42,529 shares of the information services provider’s stock after selling 11,587 shares during the period. Voya Investment Management LLC’s holdings in VeriSign were worth $11,890,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in VRSN. Vanguard Group Inc. raised its stake in shares of VeriSign by 0.7% in the 2nd quarter. Vanguard Group Inc. now owns 10,582,645 shares of the information services provider’s stock valued at $3,056,268,000 after purchasing an additional 68,355 shares in the last quarter. State Street Corp lifted its holdings in VeriSign by 1.9% during the 2nd quarter. State Street Corp now owns 3,932,243 shares of the information services provider’s stock worth $1,135,632,000 after buying an additional 73,931 shares during the last quarter. AQR Capital Management LLC boosted its holdings in VeriSign by 32.9% in the second quarter. AQR Capital Management LLC now owns 3,097,003 shares of the information services provider’s stock worth $894,414,000 after purchasing an additional 767,363 shares during the period. Geode Capital Management LLC boosted its holdings in VeriSign by 2.0% in the second quarter. Geode Capital Management LLC now owns 2,326,799 shares of the information services provider’s stock worth $670,685,000 after purchasing an additional 44,751 shares during the period. Finally, Amundi increased its stake in VeriSign by 71.3% during 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 during the last quarter. 92.90% of the stock is currently owned by institutional investors.
Insider Buying and Selling
In other news, CEO D James Bidzos sold 2,000 shares of the stock in a transaction that occurred on Wednesday, December 17th. The shares were 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 in the company, 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 SEC, which is accessible through this link. Also, EVP Thomas C. Indelicarto sold 501 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $250.07, for a total value of $125,285.07. Following the sale, the executive vice president directly owned 31,609 shares in the company, valued at approximately $7,904,462.63. The trade was a 1.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 47,839 shares of company stock valued at $12,042,404. Company insiders own 0.84% of the company’s stock.
VeriSign Trading Up 0.9%
Shares of NASDAQ VRSN opened at $246.16 on Tuesday. VeriSign, Inc. has a 12-month low of $197.71 and a 12-month high of $310.60. The company has a market cap of $22.82 billion, a PE ratio of 28.69 and a beta of 0.78. The stock has a 50 day simple moving average of $248.81 and a 200-day simple moving average of $268.28.
VeriSign (NASDAQ:VRSN – Get Free Report) last announced its quarterly earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.25 by $0.02. VeriSign had a negative return on equity of 40.66% and a net margin of 49.86%.The company had revenue of $419.10 million during the quarter, compared to analyst estimates of $416.71 million. During the same quarter in the previous year, the firm posted $2.07 EPS. The firm’s quarterly revenue was up 7.3% on a year-over-year basis.
VeriSign Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 18th were given a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date was Tuesday, November 18th. VeriSign’s payout ratio is 35.90%.
Analyst Upgrades and Downgrades
A number of research firms have recently issued reports on VRSN. Robert W. Baird set a $325.00 price target on shares of VeriSign in a research report on Friday, October 24th. Zacks Research raised shares of VeriSign to a “hold” rating in a report on Thursday, October 30th. Citigroup reaffirmed a “buy” rating on shares of VeriSign in a report on Friday, October 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of VeriSign in a report on Monday, December 15th. Finally, JPMorgan Chase & Co. began coverage on VeriSign in a research report on Tuesday, October 28th. They set a “neutral” rating and a $270.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to data from MarketBeat.com, VeriSign has a consensus rating of “Hold” and a consensus price target of $281.67.
Check Out Our Latest Research Report on VRSN
VeriSign Company 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.
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