Braun Stacey Associates Inc. Has $13.91 Million Stake in VeriSign, Inc. $VRSN

Braun Stacey Associates Inc. lifted its position in VeriSign, Inc. (NASDAQ:VRSN) by 18.8% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 49,771 shares of the information services provider’s stock after buying an additional 7,860 shares during the quarter. Braun Stacey Associates Inc.’s holdings in VeriSign were worth $13,914,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in VeriSign in the second quarter valued at approximately $300,249,000. AQR Capital Management LLC raised its holdings in shares of VeriSign by 32.9% during the 2nd quarter. AQR Capital Management LLC now owns 3,097,003 shares of the information services provider’s stock valued at $894,414,000 after purchasing an additional 767,363 shares in the last quarter. Alliancebernstein L.P. lifted its stake in shares of VeriSign by 477.1% in the 1st quarter. Alliancebernstein L.P. now owns 791,271 shares of the information services provider’s stock valued at $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% in 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 in the last quarter. Finally, Amundi raised its holdings 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 buying an additional 500,223 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

VeriSign Stock Down 1.2%

VRSN opened at $242.95 on Friday. The stock’s 50 day moving average price is $246.17 and its two-hundred day moving average price is $266.46. The firm has a market capitalization of $22.52 billion, a P/E ratio of 28.32 and a beta of 0.77. VeriSign, Inc. has a 12-month low of $203.66 and a 12-month high of $310.60.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, October 23rd. The information services provider reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.02. The company had revenue of $419.10 million during the quarter, compared to analyst estimates of $416.71 million. VeriSign had a negative return on equity of 40.66% and a net margin of 49.86%.The company’s quarterly revenue was up 7.3% compared to the same quarter last year. During the same period in the previous year, the company earned $2.07 earnings per share.

VeriSign Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on VRSN. Zacks Research downgraded VeriSign from a “hold” rating to a “strong sell” rating in a research note on Tuesday. Robert W. Baird set a $325.00 price objective on VeriSign in a research note on Friday, October 24th. JPMorgan Chase & Co. initiated coverage on VeriSign in a report on Tuesday, October 28th. They issued a “neutral” rating and a $270.00 target price for the company. Citigroup reiterated a “buy” rating on shares of VeriSign in a report on Friday, October 24th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of VeriSign in a research note on Monday. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $281.67.

Insider Transactions at VeriSign

In related news, EVP Danny R. Mcpherson sold 2,500 shares of the stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $236.87, for a total value 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 trade represents a 8.04% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO D James Bidzos sold 5,000 shares of VeriSign stock in a transaction dated Tuesday, October 14th. The stock was sold at an average price of $265.57, for a total value of $1,327,850.00. Following the sale, the chief executive officer directly owned 471,439 shares in the company, valued at approximately $125,200,055.23. This trade represents a 1.05% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 47,839 shares of company stock valued at $12,042,404 in the last ninety days. 0.84% of the stock is owned by company insiders.

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.