Savant Capital LLC Acquires 2,128 Shares of VeriSign, Inc. $VRSN

Savant Capital LLC raised its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 5.1% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 43,921 shares of the information services provider’s stock after purchasing an additional 2,128 shares during the quarter. Savant Capital LLC’s holdings in VeriSign were worth $12,684,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in VRSN. Livelsberger Financial Advisory purchased a new position in VeriSign in the 2nd quarter worth about $27,000. Bruce G. Allen Investments LLC boosted its position in VeriSign by 56.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock valued at $28,000 after buying an additional 35 shares during the period. Caitong International Asset Management Co. Ltd bought a new position in VeriSign in the 1st quarter worth about $34,000. Ameritas Advisory Services LLC purchased a new position in shares of VeriSign during the second quarter worth approximately $34,000. Finally, Bayforest Capital Ltd bought a new stake in shares of VeriSign during the second quarter valued at approximately $34,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at VeriSign

In other news, EVP Danny R. Mcpherson sold 2,500 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $236.87, for a total transaction of $592,175.00. Following the completion of the sale, the executive vice president owned 28,577 shares in the company, valued at approximately $6,769,033.99. This represents a 8.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO D James Bidzos sold 5,000 shares of the firm’s stock in a transaction on Tuesday, August 12th. The stock was sold at an average price of $264.15, for a total value of $1,320,750.00. Following the completion of the sale, the chief executive officer directly owned 508,772 shares of the company’s stock, valued at $134,392,123.80. The trade was a 0.97% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 48,039 shares of company stock worth $12,990,731 over the last ninety days. Corporate insiders own 0.84% of the company’s stock.

VeriSign Trading Up 1.0%

Shares of NASDAQ:VRSN opened at $241.97 on Friday. The company has a market capitalization of $22.43 billion, a PE ratio of 28.20 and a beta of 0.76. VeriSign, Inc. has a 12-month low of $176.62 and a 12-month high of $310.60. The business’s fifty day simple moving average is $267.73 and its 200-day simple moving average is $274.38.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, October 23rd. The information services provider reported $2.27 earnings per share for the quarter, beating 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 for the quarter, compared to the consensus estimate of $416.71 million. During the same quarter last year, the company earned $2.07 earnings per share. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. VeriSign has set its FY 2025 guidance at EPS.

VeriSign announced that its Board of Directors has authorized a share buyback program 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 reacquire up to 4.1% of its stock through open market purchases. Stock buyback programs are typically a sign that the company’s board believes its shares are undervalued.

VeriSign Announces Dividend

The company 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 dividend on an annualized basis and a dividend yield of 1.3%. VeriSign’s payout ratio is presently 35.90%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the company. Weiss Ratings reissued a “buy (b-)” rating on shares of VeriSign in a research note on Wednesday, October 8th. Zacks Research raised VeriSign to a “hold” rating in a research report on Thursday, October 30th. Citigroup restated a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. JPMorgan Chase & Co. began coverage on VeriSign in a report on Tuesday, October 28th. They issued a “neutral” rating and a $270.00 price objective for the company. Finally, Robert W. Baird set a $325.00 target price on shares of VeriSign in a report on Friday, October 24th. One equities research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $281.67.

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.