California Public Employees Retirement System Sells 43,385 Shares of VeriSign, Inc. $VRSN

California Public Employees Retirement System lessened its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 14.5% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 255,596 shares of the information services provider’s stock after selling 43,385 shares during the period. California Public Employees Retirement System owned 0.28% of VeriSign worth $71,457,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Salomon & Ludwin LLC increased its holdings in shares of VeriSign by 112.5% in the third quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock valued at $28,000 after purchasing an additional 54 shares during the last quarter. Root Financial Partners LLC acquired a new stake in shares of VeriSign during the 3rd quarter worth about $29,000. North Capital Inc. lifted its stake in shares of VeriSign by 239.0% during the 3rd quarter. North Capital Inc. now owns 139 shares of the information services provider’s stock worth $39,000 after buying an additional 98 shares during the last quarter. Bruce G. Allen Investments LLC boosted its holdings in shares of VeriSign by 51.5% during the 3rd quarter. Bruce G. Allen Investments LLC now owns 147 shares of the information services provider’s stock worth $41,000 after buying an additional 50 shares during the period. Finally, Advisors Asset Management Inc. boosted its holdings in shares of VeriSign by 25.3% during the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock worth $50,000 after buying an additional 40 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

Insider Buying and Selling

In related news, EVP Thomas C. Indelicarto sold 332 shares of the stock in a transaction that occurred on Tuesday, March 10th. The shares were sold at an average price of $240.62, for a total transaction of $79,885.84. Following the sale, the executive vice president owned 39,696 shares in the company, valued at approximately $9,551,651.52. This trade represents a 0.83% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO D James Bidzos sold 2,000 shares of VeriSign stock in a transaction that occurred on Wednesday, January 14th. The shares were sold at an average price of $248.28, for a total transaction of $496,560.00. Following the completion of the transaction, the chief executive officer directly owned 414,099 shares in the company, valued at $102,812,499.72. This trade represents a 0.48% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 11,490 shares of company stock valued at $2,827,121. 0.84% of the stock is currently owned by insiders.

VeriSign Stock Performance

Shares of NASDAQ VRSN opened at $241.26 on Tuesday. The stock has a market capitalization of $22.12 billion, a P/E ratio of 27.38 and a beta of 0.76. The stock’s fifty day moving average is $236.31 and its 200 day moving average is $250.78. VeriSign, Inc. has a 52 week low of $208.86 and a 52 week high of $310.60.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.23 earnings per share for the quarter, missing the consensus estimate of $2.29 by ($0.06). The firm had revenue of $425.30 million for the quarter, compared to the consensus estimate of $424.04 million. VeriSign had a negative return on equity of 40.40% and a net margin of 49.84%.The company’s revenue for the quarter was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company earned $2.00 EPS.

VeriSign Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Thursday, February 19th were given a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Thursday, February 19th. This is a boost from VeriSign’s previous quarterly dividend of $0.77. VeriSign’s dividend payout ratio is presently 36.78%.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Weiss Ratings reiterated a “hold (c+)” rating on shares of VeriSign in a research note on Monday, December 29th. Zacks Research upgraded VeriSign from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. JPMorgan Chase & Co. upped their target price on VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a research report on Tuesday, January 6th. Finally, Citigroup lowered their target price on VeriSign from $337.00 to $280.00 and set a “buy” rating on the stock in a research note on Monday, February 9th. Two research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, VeriSign has an average rating of “Hold” and a consensus price target of $292.00.

VeriSign 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.