Parcion Private Wealth LLC Makes New $439,000 Investment in VeriSign, Inc. (NASDAQ:VRSN)

Parcion Private Wealth LLC acquired a new stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) in the first quarter, according to its most recent filing with the SEC. The fund acquired 1,728 shares of the information services provider's stock, valued at approximately $439,000.

A number of other hedge funds have also bought and sold shares of the business. Rakuten Securities Inc. boosted its holdings in shares of VeriSign by 13,000.0% in the first quarter. Rakuten Securities Inc. now owns 131 shares of the information services provider's stock worth $33,000 after acquiring an additional 130 shares during the period. UMB Bank n.a. grew its position in shares of VeriSign by 106.5% in the first quarter. UMB Bank n.a. now owns 159 shares of the information services provider's stock valued at $40,000 after purchasing an additional 82 shares in the last quarter. Cromwell Holdings LLC grew its position in shares of VeriSign by 32.3% in the first quarter. Cromwell Holdings LLC now owns 172 shares of the information services provider's stock valued at $44,000 after purchasing an additional 42 shares in the last quarter. Whipplewood Advisors LLC grew its holdings in VeriSign by 48.8% during the 1st quarter. Whipplewood Advisors LLC now owns 186 shares of the information services provider's stock valued at $47,000 after buying an additional 61 shares in the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in VeriSign during the 1st quarter valued at about $47,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

VeriSign Stock Up 0.9%

NASDAQ:VRSN traded up $2.57 during trading hours on Friday, hitting $283.43. 359,441 shares of the company's stock traded hands, compared to its average volume of 755,224. The firm has a market cap of $26.61 billion, a P/E ratio of 34.65 and a beta of 0.78. VeriSign, Inc. has a 52 week low of $172.49 and a 52 week high of $291.54. The business's fifty day simple moving average is $280.85 and its two-hundred day simple moving average is $251.55.

VeriSign (NASDAQ:VRSN - Get Free Report) last posted its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.10. The company 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 41.37% and a net margin of 50.23%. The firm's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company earned $1.92 earnings per share.

VeriSign Dividend Announcement

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

Insider Transactions at VeriSign

In related news, CEO D James Bidzos sold 5,000 shares of the stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $276.71, for a total value of $1,383,550.00. Following the transaction, the chief executive officer owned 544,772 shares of the company's stock, valued at $150,743,860.12. This represents a 0.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold 40,004 shares of company stock valued at $11,278,592 in the last ninety days. 0.84% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on VRSN. Robert W. Baird raised their price objective on shares of VeriSign from $285.00 to $305.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Wall Street Zen upgraded shares of VeriSign from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Finally, Citigroup restated a "buy" rating on shares of VeriSign in a research report on Tuesday, July 8th.

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.