Gateway Investment Advisers LLC Has $22.15 Million Stake in VeriSign, Inc. $VRSN

Gateway Investment Advisers LLC trimmed its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 14.2% during the 3rd quarter, HoldingsChannel reports. The firm owned 79,228 shares of the information services provider’s stock after selling 13,092 shares during the quarter. Gateway Investment Advisers LLC’s holdings in VeriSign were worth $22,150,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. GraniteShares Advisors LLC boosted its position in shares of VeriSign by 5.4% in the third quarter. GraniteShares Advisors LLC now owns 2,014 shares of the information services provider’s stock worth $563,000 after buying an additional 103 shares during the period. Braun Stacey Associates Inc. lifted its stake in VeriSign by 18.8% in the 3rd quarter. Braun Stacey Associates Inc. now owns 49,771 shares of the information services provider’s stock worth $13,914,000 after acquiring an additional 7,860 shares in the last quarter. True Wealth Design LLC boosted its position in VeriSign by 49.7% during the 3rd quarter. True Wealth Design LLC now owns 1,111 shares of the information services provider’s stock worth $311,000 after acquiring an additional 369 shares during the period. Salomon & Ludwin LLC grew its stake in VeriSign by 112.5% during the 3rd quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 54 shares in the last quarter. Finally, Mather Group LLC. grew its stake in VeriSign by 31.2% during the 3rd quarter. Mather Group LLC. now owns 1,181 shares of the information services provider’s stock valued at $330,000 after acquiring an additional 281 shares in the last quarter. Hedge funds and other institutional investors own 92.90% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on VRSN shares. Zacks Research cut shares of VeriSign from a “hold” rating to a “strong sell” rating in a report on Tuesday, December 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of VeriSign in a research note on Monday, December 29th. Citigroup restated a “buy” rating on shares of VeriSign in a report on Friday, October 24th. Robert W. Baird set a $325.00 price target on shares of VeriSign in a research note on Friday, October 24th. Finally, JPMorgan Chase & Co. initiated coverage on VeriSign in a research report on Tuesday, October 28th. They set a “neutral” rating and a $270.00 price objective for the company. Two equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, VeriSign currently has an average rating of “Hold” and a consensus target price of $281.67.

Insider Transactions at VeriSign

In related news, EVP Danny R. Mcpherson sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $236.87, for a total value of $592,175.00. Following the transaction, the executive vice president directly owned 28,577 shares of the company’s stock, valued at approximately $6,769,033.99. This trade represents a 8.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO D James Bidzos sold 5,000 shares of VeriSign stock in a transaction that occurred on Tuesday, October 14th. The shares were sold at an average price of $265.57, for a total transaction of $1,327,850.00. Following the completion of the transaction, the chief executive officer directly owned 471,439 shares in the company, valued at approximately $125,200,055.23. This represents a 1.05% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 47,839 shares of company stock worth $12,042,404. 0.84% of the stock is currently owned by insiders.

VeriSign Stock Down 1.0%

VRSN stock opened at $240.53 on Friday. The firm has a 50 day moving average of $246.04 and a two-hundred day moving average of $266.06. VeriSign, Inc. has a 12 month low of $203.66 and a 12 month high of $310.60. The company has a market capitalization of $22.30 billion, a price-to-earnings ratio of 28.03 and a beta of 0.77.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share for the quarter, beating analysts’ consensus estimates of $2.25 by $0.02. The business had revenue of $419.10 million for the quarter, compared to the consensus estimate of $416.71 million. VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. VeriSign’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter last year, the firm earned $2.07 EPS.

VeriSign Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 18th were paid a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date was Tuesday, November 18th. VeriSign’s dividend payout ratio is 35.90%.

About VeriSign

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.