38,311 Shares in VeriSign, Inc. $VRSN Acquired by Harel Insurance Investments & Financial Services Ltd.

Key Points

• Harel Insurance initiated a new position in VeriSign (NASDAQ:VRSN), buying 38,311 shares worth about $9.31 million in Q4.
• VeriSign beat the quarter with EPS of $2.34 versus $2.30 and revenue of $428.9M (up 6.6% year-over-year), posting a roughly 49.95% net margin.
• The company declared a quarterly dividend of $0.81 (annualized $3.24, ~1.2% yield), while analysts have raised price targets to an average of $317.67 and a consensus rating of "Moderate Buy."

Harel Insurance Investments & Financial Services Ltd. purchased a new position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 38,311 shares of the information services provider's stock, valued at approximately $9,308,000.

Several other large investors have also made changes to their positions in the company. Salomon & Ludwin LLC lifted its stake in VeriSign by 112.5% in the 3rd 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 bought a new position in VeriSign in the 3rd quarter valued at approximately $29,000. Sunbelt Securities Inc. lifted its stake in VeriSign by 429.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider's stock valued at $36,000 after purchasing an additional 103 shares during the last quarter. Bruce G. Allen Investments LLC lifted its stake in VeriSign by 51.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 147 shares of the information services provider's stock valued at $41,000 after purchasing an additional 50 shares during the last quarter. Finally, Board of the Pension Protection Fund bought a new position in VeriSign in the 4th quarter valued at approximately $39,000. Institutional investors and hedge funds own 92.90% of the company's stock.

Insider Buying and Selling at VeriSign

In other news, EVP Danny R. Mcpherson sold 5,000 shares of the firm's stock in a transaction on Tuesday, April 28th. The shares were sold at an average price of $271.02, for a total transaction of $1,355,100.00. Following the completion of the transaction, the executive vice president owned 35,195 shares of the company's stock, valued at approximately $9,538,548.90. This trade represents a 12.44% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Thomas C. Indelicarto sold 498 shares of the firm's stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $231.78, for a total transaction of $115,426.44. Following the transaction, the executive vice president directly owned 40,028 shares of the company's stock, valued at $9,277,689.84. The trade was a 1.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 6,992 shares of company stock valued at $1,857,748 in the last ninety days. Insiders own 0.56% of the company's stock.

VeriSign Stock Performance

VRSN stock opened at $275.77 on Wednesday. The company has a fifty day moving average price of $252.02 and a 200-day moving average price of $246.87. The company has a market capitalization of $25.10 billion, a P/E ratio of 30.47 and a beta of 0.68. VeriSign, Inc. has a 52-week low of $208.86 and a 52-week high of $310.60.

VeriSign (NASDAQ:VRSN - Get Free Report) last released its quarterly earnings results on Thursday, April 23rd. The information services provider reported $2.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.04. The firm had revenue of $428.90 million during the quarter, compared to the consensus estimate of $424.50 million. VeriSign had a net margin of 49.95% and a negative return on equity of 39.98%. The company's revenue for the quarter was up 6.6% on a year-over-year basis. During the same quarter last year, the firm earned $2.10 earnings per share. As a group, sell-side analysts forecast that VeriSign, Inc. will post 9.46 earnings per share for the current fiscal year.

VeriSign Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 27th. Stockholders of record on Tuesday, May 19th will be paid a dividend of $0.81 per share. The ex-dividend date of this dividend is Tuesday, May 19th. This represents a $3.24 annualized dividend and a dividend yield of 1.2%. VeriSign's dividend payout ratio (DPR) is presently 35.80%.

Analysts Set New Price Targets

VRSN has been the subject of several research reports. Zacks Research raised shares of VeriSign from a "strong sell" rating to a "hold" rating in a research note on Monday, February 9th. Robert W. Baird increased their price objective on shares of VeriSign from $305.00 to $355.00 and gave the company an "outperform" rating in a research note on Friday, April 24th. Weiss Ratings raised shares of VeriSign from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday, March 27th. Citigroup increased their price objective on shares of VeriSign from $295.00 to $320.00 and gave the company a "buy" rating in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of VeriSign from $273.00 to $278.00 and gave the company a "neutral" rating in a research note on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $317.67.

About VeriSign

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.

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