Cache Advisors LLC Takes Position in VeriSign, Inc. (NASDAQ:VRSN)

Cache Advisors LLC purchased a new stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 3,308 shares of the information services provider's stock, valued at approximately $685,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Western Wealth Management LLC increased its holdings in shares of VeriSign by 3.9% in the 4th quarter. Western Wealth Management LLC now owns 1,905 shares of the information services provider's stock valued at $394,000 after acquiring an additional 72 shares during the period. Taylor Hoffman Capital Management LLC boosted its position in shares of VeriSign by 9.0% in the 4th quarter. Taylor Hoffman Capital Management LLC now owns 19,452 shares of the information services provider's stock worth $4,026,000 after purchasing an additional 1,608 shares in the last quarter. Focus Partners Advisor Solutions LLC acquired a new stake in shares of VeriSign in the 4th quarter worth $276,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of VeriSign by 13.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 704,279 shares of the information services provider's stock worth $145,758,000 after purchasing an additional 81,580 shares in the last quarter. Finally, Woodline Partners LP acquired a new stake in shares of VeriSign in the 4th quarter worth $1,027,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

VeriSign Trading Down 0.7%

Shares of NASDAQ VRSN traded down $1.77 during trading on Thursday, reaching $267.37. 265,622 shares of the company traded hands, compared to its average volume of 880,198. The firm's fifty day simple moving average is $262.72 and its 200 day simple moving average is $229.17. The stock has a market cap of $25.11 billion, a P/E ratio of 33.42 and a beta of 0.80. VeriSign, Inc. has a 12-month low of $168.79 and a 12-month high of $288.95.

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

VeriSign Announces Dividend

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

Insider Buying and Selling at VeriSign

In other VeriSign news, CEO D James Bidzos sold 5,000 shares of VeriSign stock in a transaction dated Tuesday, May 20th. The stock was sold at an average price of $280.40, for a total transaction of $1,402,000.00. Following the completion of the transaction, the chief executive officer now owns 553,625 shares in the company, valued at approximately $155,236,450. This trade represents a 0.90% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP John Calys sold 400 shares of VeriSign stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $281.97, for a total value of $112,788.00. Following the transaction, the senior vice president now owns 23,335 shares of the company's stock, valued at $6,579,769.95. The trade was a 1.69% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,501 shares of company stock worth $2,387,664. Insiders own 0.84% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on VRSN shares. Robert W. Baird raised their price objective on VeriSign from $275.00 to $285.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th. Citigroup raised their price objective on VeriSign from $246.00 to $250.00 and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Wall Street Zen raised VeriSign from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th.

About VeriSign

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.