Aware Super Pty Ltd as trustee of Aware Super Invests $35.09 Million in VeriSign, Inc. $VRSN

Aware Super Pty Ltd as trustee of Aware Super bought a new stake in VeriSign, Inc. (NASDAQ:VRSN) in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 141,265 shares of the information services provider’s stock, valued at approximately $35,085,000.

Several other hedge funds have also modified their holdings of the stock. DV Equities LLC acquired a new position in VeriSign during the 4th quarter worth approximately $28,000. Sunbelt Securities Inc. grew its position in VeriSign by 429.2% in the third quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider’s stock valued at $36,000 after acquiring an additional 103 shares in the last quarter. Board of the Pension Protection Fund purchased a new stake in shares of VeriSign during the fourth quarter valued at approximately $39,000. Advisors Asset Management Inc. raised its stake in shares of VeriSign by 25.3% during the first 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, Activest Wealth Management lifted its position in shares of VeriSign by 788.0% during the fourth quarter. Activest Wealth Management now owns 222 shares of the information services provider’s stock worth $54,000 after purchasing an additional 197 shares in the last quarter. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

VeriSign Stock Performance

VRSN opened at $275.22 on Friday. The company has a market capitalization of $25.05 billion, a P/E ratio of 30.41 and a beta of 0.71. The company has a 50-day moving average of $278.95 and a 200-day moving average of $258.21. VeriSign, Inc. has a 1-year low of $208.86 and a 1-year high of $312.48.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, April 23rd. The information services provider reported $2.34 EPS for the quarter, topping the consensus estimate of $2.30 by $0.04. The business had revenue of $428.90 million for the quarter, compared to analysts’ expectations of $424.50 million. VeriSign had a net margin of 49.95% and a negative return on equity of 39.98%. The company’s quarterly revenue was up 6.6% compared to the same quarter last year. During the same quarter last year, the company posted $2.10 earnings per share. As a group, sell-side analysts expect that VeriSign, Inc. will post 9.47 earnings per share for the current fiscal year.

VeriSign Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Tuesday, May 19th were issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, May 19th. VeriSign’s dividend payout ratio (DPR) is currently 35.80%.

Insiders Place Their Bets

In other news, CEO D James Bidzos sold 3,300 shares of VeriSign stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $297.47, for a total value of $981,651.00. Following the completion of the transaction, the chief executive officer owned 439,339 shares in the company, valued at approximately $130,690,172.33. This trade represents a 0.75% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Thomas C. Indelicarto sold 500 shares of the business’s stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $283.54, for a total value of $141,770.00. Following the completion of the sale, the executive vice president owned 36,551 shares of the company’s stock, valued at $10,363,670.54. This trade represents a 1.35% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 26,300 shares of company stock valued at $7,125,942 in the last quarter. Insiders own 0.56% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Robert W. Baird upped their target price on shares of VeriSign from $305.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of VeriSign in a research note on Wednesday, June 24th. Citigroup upped their price objective on shares of VeriSign from $295.00 to $320.00 and gave the company a “buy” rating in a research report on Friday, April 24th. Wedbush assumed coverage on VeriSign in a research note on Thursday. They set an “outperform” rating and a $318.00 target price for the company. Finally, JPMorgan Chase & Co. lifted their target price on VeriSign from $285.00 to $308.00 and gave the stock a “neutral” rating in a research report on Thursday, June 18th. Four analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $325.25.

About VeriSign

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.