Jefferies Financial Group Inc. Has $3.97 Million Position in VeriSign, Inc. $VRSN

Key Points

• Jefferies Financial Group increased its VeriSign stake by 47.5% in the fourth quarter, ending with 16,352 shares worth about $3.97 million.
• VeriSign reported better-than-expected quarterly results, with EPS of $2.34 on revenue of $428.9 million, and revenue rose 6.6% year over year.
• Several analysts raised price targets on VRSN, and the stock has a consensus rating of Moderate Buy with an average target price of $317.67.

Jefferies Financial Group Inc. lifted its stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 47.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 16,352 shares of the information services provider's stock after purchasing an additional 5,267 shares during the period. Jefferies Financial Group Inc.'s holdings in VeriSign were worth $3,973,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Diamond Hill Capital Management Inc. lifted its stake in shares of VeriSign by 17.0% during the fourth quarter. Diamond Hill Capital Management Inc. now owns 312,661 shares of the information services provider's stock valued at $75,961,000 after acquiring an additional 45,511 shares during the period. Fi3 FINANCIAL ADVISORS LLC lifted its stake in shares of VeriSign by 12.2% during the fourth quarter. Fi3 FINANCIAL ADVISORS LLC now owns 1,362 shares of the information services provider's stock valued at $331,000 after acquiring an additional 148 shares during the period. Leonteq Securities AG acquired a new position in shares of VeriSign during the fourth quarter valued at $226,000. ABN Amro Investment Solutions lifted its stake in shares of VeriSign by 305.0% during the fourth quarter. ABN Amro Investment Solutions now owns 5,168 shares of the information services provider's stock valued at $1,256,000 after acquiring an additional 3,892 shares during the period. Finally, Banque Cantonale Vaudoise lifted its stake in shares of VeriSign by 3.7% during the fourth quarter. Banque Cantonale Vaudoise now owns 11,945 shares of the information services provider's stock valued at $2,902,000 after acquiring an additional 422 shares during the period. Institutional investors and hedge funds own 92.90% of the company's stock.

Insider Transactions at VeriSign

In related news, EVP Danny R. Mcpherson sold 5,000 shares of the company's stock in a transaction dated Tuesday, April 28th. The stock was sold at an average price of $271.02, for a total value of $1,355,100.00. Following the completion of the sale, the executive vice president owned 35,195 shares in the company, valued at approximately $9,538,548.90. This represents a 12.44% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP Thomas C. Indelicarto sold 498 shares of the company's stock in a transaction dated Tuesday, April 14th. The shares were sold at an average price of $270.06, for a total value of $134,489.88. Following the completion of the sale, the executive vice president owned 38,202 shares of the company's stock, valued at $10,316,832.12. This represents a 1.29% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 6,826 shares of company stock valued at $1,821,354 in the last quarter. 0.56% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

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

VeriSign Stock Performance

NASDAQ VRSN opened at $310.00 on Tuesday. The stock has a 50-day simple moving average of $270.18 and a 200 day simple moving average of $251.45. The company has a market capitalization of $28.21 billion, a PE ratio of 34.25 and a beta of 0.68. VeriSign, Inc. has a 12 month low of $208.86 and a 12 month high of $312.48.

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

VeriSign Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 27th. Investors of record on Tuesday, May 19th will be issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date is Tuesday, May 19th. VeriSign's dividend payout ratio is currently 35.80%.

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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