UMB Bank n.a. Has $8.91 Million Position in VeriSign, Inc. $VRSN

Key Points

• UMB Bank n.a. increased its stake in VeriSign, Inc. by an unprecedented 19,302.5%, owning a total of 30,850 shares valued at approximately $8.9 million.
• VeriSign's %stock has seen significant movements, with a recent dividend of $0.77 per share and a market capitalization of $26.37 billion.
• Insiders, including CEO D James Bidzos, have sold shares recently; Bidzos sold 2,000 shares for approximately $576,960, indicating a 0.42% reduction in his ownership.

UMB Bank n.a. lifted its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 19,302.5% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 30,850 shares of the information services provider's stock after purchasing an additional 30,691 shares during the period. UMB Bank n.a.'s holdings in VeriSign were worth $8,909,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in VRSN. Vident Advisory LLC increased its stake in VeriSign by 41.0% in the fourth quarter. Vident Advisory LLC now owns 6,778 shares of the information services provider's stock valued at $1,403,000 after purchasing an additional 1,972 shares during the last quarter. Woodline Partners LP acquired a new position in shares of VeriSign during the 4th quarter valued at $1,027,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in VeriSign by 13.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 704,279 shares of the information services provider's stock valued at $145,758,000 after purchasing an additional 81,580 shares in the last quarter. Focus Partners Advisor Solutions LLC purchased a new position in VeriSign in the fourth quarter valued at about $276,000. Finally, Western Wealth Management LLC lifted its stake in shares of VeriSign by 3.9% during the fourth quarter. Western Wealth Management LLC now owns 1,905 shares of the information services provider's stock worth $394,000 after purchasing an additional 72 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.

Insider Transactions at VeriSign

In other news, CEO D James Bidzos sold 5,000 shares of VeriSign stock in a transaction that occurred on Tuesday, August 12th. The shares were sold at an average price of $264.15, for a total value of $1,320,750.00. Following the completion of the transaction, the chief executive officer owned 508,772 shares in the company, valued at approximately $134,392,123.80. The trade was a 0.97% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Over the last ninety days, insiders have sold 45,706 shares of company stock worth $12,733,269. Company insiders own 0.84% of the company's stock.

VeriSign Price Performance

Shares of NASDAQ VRSN traded up $0.46 during trading hours on Monday, hitting $282.74. 1,001,561 shares of the company's stock were exchanged, compared to its average volume of 861,693. The company's 50-day moving average price is $277.62 and its 200-day moving average price is $270.64. VeriSign, Inc. has a 1-year low of $175.62 and a 1-year high of $310.60. The stock has a market capitalization of $26.41 billion, a price-to-earnings ratio of 33.74 and a beta of 0.79.

VeriSign (NASDAQ:VRSN - Get Free Report) last announced its earnings results on Thursday, July 24th. The information services provider reported $2.21 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.20 by $0.01. VeriSign had a net margin of 50.05% and a negative return on equity of 40.87%. The business had revenue of $409.90 million for the quarter, compared to analyst estimates of $410.35 million. During the same quarter in the previous year, the firm posted $2.01 earnings per share. VeriSign's revenue was up 5.9% compared to the same quarter last year. VeriSign has set its FY 2025 guidance at EPS.

VeriSign declared that its board has authorized a stock repurchase program on Thursday, July 24th that authorizes the company to repurchase $1.11 billion in shares. This repurchase authorization authorizes the information services provider to buy up to 4.1% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company's board of directors believes its stock is undervalued.

VeriSign Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Tuesday, August 19th were given a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 1.1%. The ex-dividend date was Tuesday, August 19th. VeriSign's dividend payout ratio (DPR) is 36.75%.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citigroup reaffirmed a "buy" rating on shares of VeriSign in a research note on Tuesday, July 8th. Robert W. Baird upped their price objective on VeriSign from $285.00 to $305.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating and two have given a Buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average price target of $277.50.

VeriSign Company 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.