NorthCrest Asset Manangement LLC Buys 2,428 Shares of VeriSign, Inc. (NASDAQ:VRSN)

NorthCrest Asset Manangement LLC increased its holdings in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 198.0% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 3,654 shares of the information services provider's stock after buying an additional 2,428 shares during the period. NorthCrest Asset Manangement LLC's holdings in VeriSign were worth $928,000 as of its most recent filing with the SEC.

Other hedge funds have also recently bought and sold shares of the company. Whipplewood Advisors LLC bought a new stake in shares of VeriSign in the 4th quarter worth approximately $26,000. Venturi Wealth Management LLC grew its position in VeriSign by 127.2% in the fourth quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider's stock worth $38,000 after acquiring an additional 103 shares in the last quarter. UMB Bank n.a. grew its position in VeriSign by 106.5% in the first quarter. UMB Bank n.a. now owns 159 shares of the information services provider's stock worth $40,000 after acquiring an additional 82 shares in the last quarter. BankPlus Trust Department bought a new stake in shares of VeriSign during the 4th quarter worth $49,000. Finally, Physician Wealth Advisors Inc. bought a new stake in shares of VeriSign during the 4th quarter worth $54,000. 92.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of VeriSign from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Robert W. Baird increased their target price on shares of VeriSign from $275.00 to $285.00 and gave the stock an "outperform" rating in a research report on Friday, April 25th.

VeriSign Stock Down 0.7%

VeriSign stock traded down $1.91 during midday trading on Friday, hitting $279.90. 427,324 shares of the stock were exchanged, compared to its average volume of 760,667. The company has a fifty day simple moving average of $269.77 and a two-hundred day simple moving average of $237.32. VeriSign, Inc. has a 52 week low of $172.49 and a 52 week high of $288.95. The stock has a market capitalization of $26.28 billion, a PE ratio of 34.99 and a beta of 0.77.

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, hitting the consensus estimate of $2.10. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%. The business had revenue of $402.30 million for the quarter, compared to analyst estimates of $400.44 million. During the same quarter last year, the firm earned $1.92 EPS. VeriSign's quarterly revenue was up 4.7% compared to the same quarter last year.

VeriSign Dividend Announcement

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

Insiders Place Their Bets

In related news, EVP Thomas C. Indelicarto sold 501 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $275.44, for a total transaction of $137,995.44. Following the completion of the sale, the executive vice president now owns 39,272 shares of the company's stock, valued at $10,817,079.68. This represents a 1.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP John Calys sold 400 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $281.97, for a total transaction of $112,788.00. Following the sale, the senior vice president now directly owns 23,335 shares of the company's stock, valued at $6,579,769.95. This represents a 1.69% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 16,002 shares of company stock worth $4,467,769. Company insiders own 0.84% of the company's stock.

VeriSign 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.