VeriSign, Inc. $VRSN Shares Bought by waypoint wealth counsel

Key Points

• Waypoint Wealth Counsel increased its holdings in VeriSign, Inc. by 107.8% during the second quarter, now owning shares valued at $612,000.
• Several analysts have issued positive ratings on VeriSign, with Citigroup maintaining a buy rating and Robert W. Baird raising the price target to $305.00.
• VeriSign announced a quarterly dividend of $0.77 per share, representing an annualized yield of 1.2%, and has authorized a stock repurchase plan worth $1.11 billion.

waypoint wealth counsel raised its holdings in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 107.8% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,120 shares of the information services provider's stock after purchasing an additional 1,100 shares during the period. waypoint wealth counsel's holdings in VeriSign were worth $612,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in VRSN. Bruce G. Allen Investments LLC raised its holdings in VeriSign by 56.5% in the second quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider's stock valued at $28,000 after acquiring an additional 35 shares in the last quarter. Whittier Trust Co. of Nevada Inc. raised its stake in shares of VeriSign by 2.5% in the 1st quarter. Whittier Trust Co. of Nevada Inc. now owns 1,506 shares of the information services provider's stock valued at $382,000 after purchasing an additional 37 shares in the last quarter. Flputnam Investment Management Co. raised its stake in shares of VeriSign by 1.8% in the 1st quarter. Flputnam Investment Management Co. now owns 2,183 shares of the information services provider's stock valued at $554,000 after purchasing an additional 39 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of VeriSign by 25.3% in the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider's stock valued at $50,000 after purchasing an additional 40 shares in the last quarter. Finally, Cromwell Holdings LLC raised its stake in VeriSign by 32.3% during the first quarter. Cromwell Holdings LLC now owns 172 shares of the information services provider's stock valued at $44,000 after buying an additional 42 shares in the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have issued reports on the company. Citigroup restated a "buy" rating on shares of VeriSign in a research note on Tuesday, July 8th. Robert W. Baird upped their price target on VeriSign from $285.00 to $305.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of VeriSign in a research report on Wednesday. One analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Buy" and a consensus price target of $277.50.

VeriSign Trading Down 0.4%

Shares of VeriSign stock opened at $260.82 on Friday. The business's 50 day simple moving average is $275.45 and its 200-day simple moving average is $273.83. The stock has a market capitalization of $24.36 billion, a price-to-earnings ratio of 31.12 and a beta of 0.79. VeriSign, Inc. has a twelve month low of $175.62 and a twelve month high of $310.60.

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

VeriSign Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 27th. Investors of record on Tuesday, August 19th were issued a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.2%. The ex-dividend date of this dividend was Tuesday, August 19th. VeriSign's dividend payout ratio (DPR) is 36.75%.

VeriSign announced that its board has approved a stock repurchase plan on Thursday, July 24th that allows the company to repurchase $1.11 billion in outstanding shares. This repurchase authorization allows the information services provider to repurchase up to 4.1% of its stock through open market purchases. Stock repurchase plans are often an indication that the company's board of directors believes its shares are undervalued.

Insider Buying and Selling

In other VeriSign news, EVP Thomas C. Indelicarto sold 501 shares of the firm's stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $270.87, for a total value of $135,705.87. Following the sale, the executive vice president owned 34,690 shares in the company, valued at approximately $9,396,480.30. This trade represents a 1.42% 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 this link. Also, CEO D James Bidzos sold 2,000 shares of the firm's stock in a transaction that occurred on Wednesday, September 17th. The shares were sold at an average price of $288.48, for a total value of $576,960.00. Following the completion of the sale, the chief executive officer owned 476,439 shares in the company, valued at approximately $137,443,122.72. This represents a 0.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 38,205 shares of company stock valued at $10,577,083 in 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.

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