Eurizon Capital SGR S.p.A. Invests $34.36 Million in VeriSign, Inc. $VRSN

Eurizon Capital SGR S.p.A. bought a new position in shares of VeriSign, Inc. (NASDAQ:VRSN) in the 4th quarter, HoldingsChannel reports. The institutional investor bought 141,408 shares of the information services provider’s stock, valued at approximately $34,357,000.

Several other large investors have also made changes to their positions in the business. Hillsdale Investment Management Inc. raised its stake in shares of VeriSign by 17.7% during the 4th quarter. Hillsdale Investment Management Inc. now owns 3,660 shares of the information services provider’s stock worth $889,000 after buying an additional 550 shares during the period. Fideuram Asset Management Ireland dac acquired a new position in shares of VeriSign during the 4th quarter worth approximately $58,000. Principia Wealth Advisory LLC raised its stake in shares of VeriSign by 181.5% during the 4th quarter. Principia Wealth Advisory LLC now owns 380 shares of the information services provider’s stock worth $92,000 after buying an additional 245 shares during the period. Northwestern Mutual Wealth Management Co. raised its stake in shares of VeriSign by 5.1% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 1,205 shares of the information services provider’s stock worth $293,000 after buying an additional 58 shares during the period. Finally, Jupiter Asset Management Ltd. raised its stake in shares of VeriSign by 85.8% during the 4th quarter. Jupiter Asset Management Ltd. now owns 413,446 shares of the information services provider’s stock worth $100,447,000 after buying an additional 190,868 shares during the period. 92.90% of the stock is owned by institutional investors and hedge funds.

VeriSign Stock Performance

Shares of VRSN opened at $285.38 on Friday. VeriSign, Inc. has a one year low of $208.86 and a one year high of $312.48. The stock has a market capitalization of $25.97 billion, a price-to-earnings ratio of 31.53 and a beta of 0.68. The stock has a 50 day moving average price of $274.64 and a 200 day moving average price of $252.89.

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. VeriSign had a negative return on equity of 39.98% and a net margin of 49.95%.The firm had revenue of $428.90 million during the quarter, compared to analysts’ expectations of $424.50 million. During the same period in the previous year, the business earned $2.10 earnings per share. The firm’s revenue for the quarter was up 6.6% on a year-over-year basis. On average, analysts predict that VeriSign, Inc. will post 9.46 earnings per share for the current year.

VeriSign Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Tuesday, May 19th were issued a $0.81 dividend. This represents a $3.24 annualized dividend and a yield of 1.1%. The ex-dividend date was Tuesday, May 19th. VeriSign’s dividend payout ratio is presently 35.80%.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on VRSN shares. Weiss Ratings raised VeriSign from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, March 27th. Robert W. Baird upped their target price on VeriSign from $305.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. upped their target price on VeriSign from $273.00 to $278.00 and gave the stock a “neutral” rating in a research note on Friday, April 24th. Citigroup upped their target price on VeriSign from $295.00 to $320.00 and gave the stock a “buy” rating in a research note on Friday, April 24th. Finally, Zacks Research upgraded VeriSign from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $317.67.

Insider Buying and Selling at VeriSign

In other VeriSign news, EVP Danny R. Mcpherson sold 5,000 shares of the company’s stock in a transaction on Tuesday, April 28th. The stock was sold at an average price of $271.02, for a total value of $1,355,100.00. Following the completion of the sale, the executive vice president directly owned 35,195 shares in the company, valued at $9,538,548.90. This represents a 12.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Thomas C. Indelicarto sold 498 shares of the company’s stock in a transaction on Tuesday, April 14th. The shares were sold at an average price of $270.06, for a total value of $134,489.88. Following the completion of the sale, the executive vice president owned 38,202 shares of the company’s stock, valued at approximately $10,316,832.12. The trade was a 1.29% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 6,826 shares of company stock valued at $1,821,354. 0.56% of the stock is owned by company insiders.

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.