Nitorum Capital L.P. Sells 23,070 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Nitorum Capital L.P. decreased its position in shares of VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 24.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 70,574 shares of the information services provider's stock after selling 23,070 shares during the period. VeriSign comprises 1.7% of Nitorum Capital L.P.'s portfolio, making the stock its 26th biggest position. Nitorum Capital L.P. owned about 0.07% of VeriSign worth $14,606,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Nordea Investment Management AB lifted its holdings in VeriSign by 544.1% during the 4th quarter. Nordea Investment Management AB now owns 391,319 shares of the information services provider's stock worth $81,003,000 after buying an additional 330,561 shares in the last quarter. Birch Capital Management LLC raised its holdings in VeriSign by 3,996.0% during the 4th quarter. Birch Capital Management LLC now owns 4,096 shares of the information services provider's stock worth $848,000 after purchasing an additional 3,996 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in VeriSign by 322.2% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 261,526 shares of the information services provider's stock valued at $53,639,000 after buying an additional 199,583 shares during the period. Truist Financial Corp raised its position in shares of VeriSign by 12.2% during the 4th quarter. Truist Financial Corp now owns 20,462 shares of the information services provider's stock valued at $4,235,000 after acquiring an additional 2,218 shares during the last quarter. Finally, United Super Pty Ltd in its capacity as Trustee for the Construction & Building Unions Superannuation Fund acquired a new position in VeriSign in the fourth quarter valued at about $600,000. 92.90% of the stock is owned by institutional investors and hedge funds.

VeriSign Price Performance

Shares of VeriSign stock traded up $3.76 during trading hours on Wednesday, hitting $282.12. The company's stock had a trading volume of 1,246,699 shares, compared to its average volume of 1,067,452. The company has a market capitalization of $26.56 billion, a PE ratio of 35.27 and a beta of 0.87. The stock has a 50 day moving average of $244.99 and a 200 day moving average of $215.32. VeriSign, Inc. has a 12 month low of $265.00 and a 12 month high of $282.31.

VeriSign (NASDAQ:VRSN - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.10 earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of $2.10. VeriSign had a negative return on equity of 43.01% and a net margin of 50.47%. The business had revenue of $402.30 million during the quarter, compared to analysts' expectations of $400.44 million. During the same period in the prior year, the business earned $1.92 EPS. VeriSign's revenue for the quarter was up 4.7% compared to the same quarter last year.

VeriSign Dividend Announcement

The business also recently disclosed a -- dividend, which will be paid on Wednesday, May 28th. Investors of record on Monday, May 19th will be issued a dividend of $0.77 per share. The ex-dividend date is Monday, May 19th. VeriSign's payout ratio is 37.65%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on VRSN. StockNews.com raised VeriSign from a "hold" rating to a "buy" rating in a research note on Saturday, April 12th. Robert W. Baird upped their target price on shares of VeriSign from $275.00 to $285.00 and gave the company an "outperform" rating in a research note on Friday, April 25th. Finally, Citigroup increased their target price on shares of VeriSign from $246.00 to $250.00 and gave the stock a "buy" rating in a report on Tuesday, February 4th.

Insider Activity at VeriSign

In other VeriSign news, SVP John Calys sold 447 shares of VeriSign stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $231.75, for a total value of $103,592.25. Following the sale, the senior vice president now owns 23,735 shares of the company's stock, valued at $5,500,586.25. This trade represents a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.84% of the stock is currently owned by insiders.

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.