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VeriSign, Inc. (NASDAQ:VRSN) Shares Acquired by Mackenzie Financial Corp

VeriSign logo with Computer and Technology background

Mackenzie Financial Corp grew its stake in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 23.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 559,389 shares of the information services provider's stock after buying an additional 106,445 shares during the quarter. Mackenzie Financial Corp owned 0.60% of VeriSign worth $142,012,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Rakuten Securities Inc. raised its holdings in VeriSign by 13,000.0% in the 1st quarter. Rakuten Securities Inc. now owns 131 shares of the information services provider's stock worth $33,000 after purchasing an additional 130 shares during the period. UMB Bank n.a. raised its holdings in VeriSign by 106.5% in the 1st quarter. UMB Bank n.a. now owns 159 shares of the information services provider's stock worth $40,000 after purchasing an additional 82 shares during the period. Cromwell Holdings LLC raised its holdings in VeriSign by 32.3% in the 1st quarter. Cromwell Holdings LLC now owns 172 shares of the information services provider's stock worth $44,000 after purchasing an additional 42 shares during the period. Golden State Wealth Management LLC acquired a new position in VeriSign in the 1st quarter worth about $47,000. Finally, Whipplewood Advisors LLC raised its holdings in VeriSign by 48.8% in the 1st quarter. Whipplewood Advisors LLC now owns 186 shares of the information services provider's stock worth $47,000 after purchasing an additional 61 shares during the period. Institutional investors and hedge funds own 92.90% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Wall Street Zen raised VeriSign from a "hold" rating to a "buy" rating in a report on Saturday, April 12th. Citigroup reissued a "buy" rating on shares of VeriSign in a report on Tuesday, July 8th. Finally, Robert W. Baird increased their target price on VeriSign from $285.00 to $305.00 and gave the company an "outperform" rating in a report on Tuesday, July 1st.

Check Out Our Latest Stock Analysis on VRSN

Insider Buying and Selling

In other news, EVP Thomas C. Indelicarto sold 501 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $287.10, for a total value of $143,837.10. Following the completion of the sale, the executive vice president directly owned 37,769 shares in the company, valued at $10,843,479.90. This represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO D James Bidzos sold 2,000 shares of the company's stock in a transaction that occurred on Wednesday, July 16th. The shares were sold at an average price of $281.35, for a total value of $562,700.00. Following the completion of the sale, the chief executive officer owned 515,772 shares of the company's stock, valued at $145,112,452.20. This trade represents a 0.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 40,004 shares of company stock valued at $11,278,592 over the last 90 days. Company insiders own 0.84% of the company's stock.

VeriSign Price Performance

Shares of VeriSign stock opened at $305.98 on Tuesday. The business has a 50 day simple moving average of $282.50 and a two-hundred day simple moving average of $256.24. VeriSign, Inc. has a 12 month low of $172.49 and a 12 month high of $310.60. The stock has a market capitalization of $28.73 billion, a P/E ratio of 36.51 and a beta of 0.78.

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

VeriSign Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Tuesday, August 19th will be given a $0.77 dividend. The ex-dividend date is Tuesday, August 19th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.01%. VeriSign's dividend payout ratio (DPR) is presently 36.75%.

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

VeriSign Company Profile

(Free Report)

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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Want to see what other hedge funds are holding VRSN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VeriSign, Inc. (NASDAQ:VRSN - Free Report).

Institutional Ownership by Quarter for VeriSign (NASDAQ:VRSN)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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