Odyssean LLC Has $2.14 Million Holdings in VeriSign, Inc. $VRSN

Odyssean LLC raised its position in VeriSign, Inc. (NASDAQ:VRSN) by 45.1% during the second quarter, according to its most recent filing with the SEC. The firm owned 8,498 shares of the information services provider’s stock after purchasing an additional 2,641 shares during the period. Odyssean LLC’s holdings in VeriSign were worth $2,138,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of VRSN. Man Group plc acquired a new stake in shares of VeriSign during the second quarter worth $31,852,000. Western Wealth Management LLC bought a new position in VeriSign during the second quarter worth $512,000. Jupiter Topco LLC acquired a new position in VeriSign in the second quarter valued at $1,954,000. Hsbc Holdings PLC acquired a new position in VeriSign in the second quarter valued at $53,253,000. Finally, Canada Pension Plan Investment Board bought a new stake in VeriSign during the second quarter valued at $14,222,000. 92.90% of the stock is owned by institutional investors.

Insider Activity at VeriSign

In other VeriSign news, EVP John Calys sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The stock was sold at an average price of $281.56, for a total value of $140,780.00. Following the completion of the sale, the executive vice president owned 31,087 shares of the company’s stock, valued at approximately $8,752,855.72. This trade represents a 1.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO D James Bidzos sold 3,300 shares of the business’s stock in a transaction that occurred on Tuesday, August 18th. The shares were sold at an average price of $277.85, for a total value of $916,905.00. Following the sale, the chief executive officer owned 401,389 shares of the company’s stock, valued at approximately $111,525,933.65. This represents a 0.82% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 36,500 shares of company stock valued at $10,059,796 in the last three months. Corporate insiders own 0.56% of the company’s stock.

VeriSign Stock Up 1.0%

Shares of NASDAQ VRSN opened at $293.75 on Wednesday. The firm has a market cap of $26.53 billion, a PE ratio of 31.86 and a beta of 0.70. The company’s fifty day simple moving average is $273.35 and its 200 day simple moving average is $265.33. VeriSign, Inc. has a 12-month low of $208.86 and a 12-month high of $312.48.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, July 23rd. The information services provider reported $2.38 earnings per share for the quarter, beating the consensus estimate of $2.36 by $0.02. VeriSign had a net margin of 49.76% and a negative return on equity of 39.20%. The firm had revenue of $434.60 million during the quarter, compared to the consensus estimate of $433.19 million. During the same period in the previous year, the firm posted $2.21 earnings per share. The business’s revenue was up 6.0% compared to the same quarter last year. On average, equities analysts predict that VeriSign, Inc. will post 9.56 earnings per share for the current year.

VeriSign Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, August 19th will be paid a $0.81 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.24 annualized dividend and a dividend yield of 1.1%. VeriSign’s dividend payout ratio (DPR) is currently 35.14%.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on VRSN shares. Wedbush increased their price target on VeriSign from $318.00 to $324.00 and gave the stock an “outperform” rating in a report on Friday, July 24th. JPMorgan Chase & Co. upped their target price on VeriSign from $308.00 to $316.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Zacks Research raised VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday, July 27th. Finally, Weiss Ratings reiterated a “buy (b-)” rating on shares of VeriSign in a report on Wednesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and a consensus price target of $328.75.

VeriSign Profile

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.