Algert Global LLC Raises Stock Position in VeriSign, Inc. (NASDAQ:VRSN)

Algert Global LLC boosted its stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 121.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 8,080 shares of the information services provider's stock after purchasing an additional 4,425 shares during the quarter. Algert Global LLC's holdings in VeriSign were worth $1,672,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in VRSN. Invesco Ltd. increased its position in VeriSign by 2.1% in the 4th quarter. Invesco Ltd. now owns 1,701,154 shares of the information services provider's stock valued at $352,071,000 after acquiring an additional 35,326 shares during the period. AQR Capital Management LLC grew its stake in shares of VeriSign by 20.9% in the 4th quarter. AQR Capital Management LLC now owns 1,327,130 shares of the information services provider's stock valued at $273,853,000 after buying an additional 229,311 shares during the period. Arrowstreet Capital Limited Partnership increased its holdings in shares of VeriSign by 10.0% during the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,284,759 shares of the information services provider's stock valued at $265,894,000 after acquiring an additional 116,833 shares in the last quarter. Norges Bank acquired a new position in VeriSign during the fourth quarter worth $222,840,000. Finally, Northern Trust Corp lifted its position in VeriSign by 11.3% in the 4th quarter. Northern Trust Corp now owns 974,617 shares of the information services provider's stock valued at $201,707,000 after acquiring an additional 98,985 shares in the last quarter. Institutional investors own 92.90% of the company's stock.

Analyst Ratings Changes

VRSN has been the subject of a number of research reports. Citigroup increased their target price on shares of VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a research report on Tuesday, February 4th. Robert W. Baird upped their target price on VeriSign from $275.00 to $285.00 and gave the stock an "outperform" rating in a research note on Friday, April 25th. Finally, StockNews.com upgraded VeriSign from a "hold" rating to a "buy" rating in a report on Saturday, April 12th.

Insider Buying and Selling at VeriSign

In related news, Director Yehuda Ari Buchalter sold 600 shares of the stock in a transaction that occurred on Tuesday, May 6th. The shares were sold at an average price of $283.79, for a total value of $170,274.00. Following the completion of the sale, the director now directly owns 3,735 shares of the company's stock, valued at approximately $1,059,955.65. This represents a 13.84% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, SVP John Calys sold 447 shares of the firm's stock in a transaction on Monday, February 24th. The shares were sold at an average price of $231.75, for a total transaction of $103,592.25. Following the sale, the senior vice president now owns 23,735 shares in the company, valued at $5,500,586.25. The trade was a 1.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,447 shares of company stock worth $386,654. Insiders own 0.84% of the company's stock.

VeriSign Price Performance

NASDAQ:VRSN traded up $2.55 during mid-day trading on Thursday, reaching $278.95. 216,794 shares of the company's stock traded hands, compared to its average volume of 753,420. The firm has a market capitalization of $26.19 billion, a price-to-earnings ratio of 34.84 and a beta of 0.80. The company has a 50 day moving average price of $254.74 and a 200-day moving average price of $222.36. VeriSign, Inc. has a 12-month low of $168.51 and a 12-month high of $288.95.

VeriSign (NASDAQ:VRSN - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.10 earnings per share for the quarter, meeting the consensus estimate of $2.10. The business had revenue of $402.30 million for the quarter, compared to analysts' expectations of $400.44 million. VeriSign had a negative return on equity of 43.01% and a net margin of 50.47%. The business's revenue was up 4.7% on a year-over-year basis. During the same period in the previous year, the firm posted $1.92 EPS.

VeriSign Announces Dividend

The business also recently disclosed a -- dividend, which will be paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th will be issued a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, May 19th. VeriSign's payout ratio is 37.65%.

VeriSign Company Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.