Deutsche Bank AG Buys 113,804 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Key Points

• Deutsche Bank AG has increased its share holdings in VeriSign, Inc. by 19.8%, now owning approximately 0.73% of the company valued at $175 million.
• VeriSign announced a quarterly dividend of $0.77 per share, with a 1.1% yield and a payout ratio of 36.75%.
• The company reported a 5.9% year-over-year revenue increase with earnings per share of $2.21, surpassing analysts' expectations.

Deutsche Bank AG raised its position in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 19.8% during the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 689,780 shares of the information services provider's stock after purchasing an additional 113,804 shares during the period. Deutsche Bank AG owned about 0.73% of VeriSign worth $175,114,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of VRSN. GAMMA Investing LLC boosted its position in VeriSign by 34,326.0% during the 1st quarter. GAMMA Investing LLC now owns 697,127 shares of the information services provider's stock worth $176,980,000 after purchasing an additional 695,102 shares during the period. Point72 Asset Management L.P. lifted its holdings in shares of VeriSign by 268.8% in the fourth quarter. Point72 Asset Management L.P. now owns 692,498 shares of the information services provider's stock valued at $143,319,000 after purchasing an additional 504,748 shares in the last quarter. Berkshire Hathaway Inc increased its holdings in VeriSign by 3.6% in the fourth quarter. Berkshire Hathaway Inc now owns 13,271,457 shares of the information services provider's stock worth $2,746,661,000 after buying an additional 455,844 shares during the last quarter. Jacobs Levy Equity Management Inc. raised its position in shares of VeriSign by 58.2% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,097,129 shares of the information services provider's stock valued at $227,062,000 after purchasing an additional 403,760 shares during the period. Finally, AQR Capital Management LLC grew its position in shares of VeriSign by 20.9% in the fourth quarter. AQR Capital Management LLC now owns 1,327,130 shares of the information services provider's stock valued at $273,853,000 after purchasing an additional 229,311 shares during the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

VRSN has been the topic of a number of recent research reports. Robert W. Baird lifted their price target on shares of VeriSign from $285.00 to $305.00 and gave the stock an "outperform" rating in a research note on Tuesday, July 1st. Citigroup reaffirmed a "buy" rating on shares of VeriSign in a research note on Tuesday, July 8th.

VeriSign Price Performance

NASDAQ VRSN traded down $4.47 on Monday, reaching $267.42. The stock had a trading volume of 1,230,023 shares, compared to its average volume of 878,994. VeriSign, Inc. has a 1-year low of $172.49 and a 1-year high of $310.60. The firm has a fifty day moving average of $281.41 and a two-hundred day moving average of $260.49. The company has a market cap of $24.98 billion, a P/E ratio of 31.91 and a beta of 0.78.

VeriSign (NASDAQ:VRSN - Get Free Report) last issued its quarterly earnings data 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 net margin of 50.05% and a negative return on equity of 40.87%. The firm's quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the business earned $2.01 EPS.

VeriSign Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, August 27th. Stockholders of record on Tuesday, August 19th will be paid a dividend of $0.77 per share. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date is Tuesday, August 19th. VeriSign's payout ratio is presently 36.75%.

VeriSign declared that its board has initiated a stock buyback plan on Thursday, July 24th that authorizes the company to buyback $1.11 billion in outstanding shares. This buyback authorization authorizes the information services provider to reacquire up to 4.1% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board believes its shares are undervalued.

Insiders Place Their Bets

In other news, EVP Thomas C. Indelicarto sold 501 shares of VeriSign stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $269.50, for a total value of $135,019.50. Following the completion of the transaction, the executive vice president directly owned 37,268 shares in the company, valued at approximately $10,043,726. The trade was a 1.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO D James Bidzos sold 2,000 shares of the company's stock in a transaction on Wednesday, July 16th. The stock was sold at an average price of $281.35, for a total transaction of $562,700.00. Following the completion of the transaction, 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 have sold a total of 39,505 shares of company stock worth $11,130,549 over the last quarter. Company insiders own 0.84% of the company's stock.

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.