Perigon Wealth Management LLC Takes Position in VeriSign, Inc. $VRSN

Perigon Wealth Management LLC acquired a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 2,462 shares of the information services provider’s stock, valued at approximately $688,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. AQR Capital Management LLC boosted its stake in VeriSign by 32.9% in the 2nd quarter. AQR Capital Management LLC now owns 3,097,003 shares of the information services provider’s stock worth $894,414,000 after buying an additional 767,363 shares during the last quarter. Ethic Inc. increased its stake in shares of VeriSign by 21.4% during the 2nd quarter. Ethic Inc. now owns 13,362 shares of the information services provider’s stock valued at $3,844,000 after acquiring an additional 2,351 shares during the last quarter. Aviva PLC lifted its holdings in shares of VeriSign by 103.6% during the 2nd quarter. Aviva PLC now owns 64,938 shares of the information services provider’s stock worth $18,754,000 after acquiring an additional 33,041 shares during the period. Peak Financial Advisors LLC acquired a new stake in shares of VeriSign in the second quarter worth approximately $2,664,000. Finally, Edgestream Partners L.P. grew its holdings in VeriSign by 2,034.9% in the second quarter. Edgestream Partners L.P. now owns 17,207 shares of the information services provider’s stock valued at $4,969,000 after purchasing an additional 16,401 shares during the period. 92.90% of the stock is owned by hedge funds and other institutional investors.

VeriSign Trading Down 1.2%

Shares of VeriSign stock opened at $242.95 on Friday. VeriSign, Inc. has a twelve month low of $203.66 and a twelve month high of $310.60. The stock has a market cap of $22.52 billion, a price-to-earnings ratio of 28.32 and a beta of 0.77. The company has a fifty day moving average price of $246.17 and a 200 day moving average price of $266.46.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data 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. 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 analysts’ expectations of $416.71 million. During the same quarter in the previous year, the firm posted $2.07 earnings per share. 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 issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 1.3%. The ex-dividend date was Tuesday, November 18th. VeriSign’s dividend payout ratio is currently 35.90%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a research note on Monday. JPMorgan Chase & Co. started coverage on VeriSign in a research report on Tuesday, October 28th. They issued a “neutral” rating and a $270.00 target price on the stock. Robert W. Baird set a $325.00 target price on VeriSign in a report on Friday, October 24th. Citigroup restated a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. Finally, Zacks Research downgraded VeriSign from a “hold” rating to a “strong sell” rating in a report on Tuesday. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $281.67.

Insider Activity at VeriSign

In other news, EVP Thomas C. Indelicarto sold 501 shares of VeriSign stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $250.07, for a total transaction of $125,285.07. Following the sale, the executive vice president owned 31,609 shares in the company, valued at $7,904,462.63. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO D James Bidzos sold 2,000 shares of the company’s stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $244.25, for a total transaction of $488,500.00. Following the completion of the transaction, the chief executive officer owned 423,099 shares of the company’s stock, valued at $103,341,930.75. This trade represents a 0.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders 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 corporate 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.