OMNI 360 Wealth Inc. Takes $329,000 Position in VeriSign, Inc. (NASDAQ:VRSN)

OMNI 360 Wealth Inc. acquired a new stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 1,294 shares of the information services provider's stock, valued at approximately $329,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Jones Financial Companies Lllp increased its position in VeriSign by 10.9% during the 4th quarter. Jones Financial Companies Lllp now owns 1,512 shares of the information services provider's stock valued at $313,000 after purchasing an additional 149 shares during the period. Assetmark Inc. increased its position in VeriSign by 847.7% during the 4th quarter. Assetmark Inc. now owns 12,528 shares of the information services provider's stock valued at $2,593,000 after purchasing an additional 11,206 shares during the period. M&T Bank Corp increased its position in VeriSign by 16.2% during the 4th quarter. M&T Bank Corp now owns 5,437 shares of the information services provider's stock valued at $1,125,000 after purchasing an additional 760 shares during the period. Proficio Capital Partners LLC acquired a new stake in VeriSign during the 4th quarter valued at approximately $11,865,000. Finally, Raymond James Financial Inc. bought a new position in shares of VeriSign during the 4th quarter worth approximately $8,310,000. Institutional investors and hedge funds own 92.90% of the company's stock.

VeriSign Stock Performance

VeriSign stock opened at $286.67 on Tuesday. The stock has a market capitalization of $26.92 billion, a price-to-earnings ratio of 34.86 and a beta of 0.78. VeriSign, Inc. has a 52-week low of $172.49 and a 52-week high of $290.38. The stock's 50 day moving average price is $280.71 and its two-hundred day moving average price is $247.67.

VeriSign (NASDAQ:VRSN - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.10 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.10. VeriSign had a negative return on equity of 41.37% and a net margin of 50.23%. The company had revenue of $402.30 million for the quarter, compared to analysts' expectations of $400.44 million. During the same period last year, the business earned $1.92 EPS. VeriSign's quarterly revenue was up 4.7% compared to the same quarter last year.

VeriSign Announces Dividend

The company also recently announced a -- dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were issued a $0.77 dividend. The ex-dividend date of this dividend was Monday, May 19th. VeriSign's dividend payout ratio is currently 37.65%.

Insider Buying and Selling

In other VeriSign news, CEO D James Bidzos sold 5,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $276.71, for a total transaction of $1,383,550.00. Following the completion of the sale, the chief executive officer directly owned 544,772 shares of the company's stock, valued at approximately $150,743,860.12. The trade was a 0.91% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Thomas C. Indelicarto sold 501 shares of the business's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $290.17, for a total value of $145,375.17. Following the sale, the executive vice president directly owned 38,270 shares of the company's stock, valued at $11,104,805.90. This represents a 1.29% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 25,503 shares of company stock worth $7,158,975 in the last ninety days. Corporate insiders own 0.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on VRSN shares. Robert W. Baird increased their price target on VeriSign from $285.00 to $305.00 and gave the stock an "outperform" rating in a report on Tuesday, July 1st. Wall Street Zen upgraded VeriSign from a "hold" rating to a "buy" rating in a 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.

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