Scientech Research LLC Reduces Position in VeriSign, Inc. (NASDAQ:VRSN)

Scientech Research LLC lessened its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 28.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,964 shares of the information services provider’s stock after selling 2,338 shares during the period. Scientech Research LLC’s holdings in VeriSign were worth $1,234,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Sequoia Financial Advisors LLC boosted its holdings in VeriSign by 2.5% in the 4th quarter. Sequoia Financial Advisors LLC now owns 1,960 shares of the information services provider’s stock valued at $406,000 after purchasing an additional 48 shares during the last quarter. HighTower Advisors LLC lifted its holdings in shares of VeriSign by 1.8% in the 4th quarter. HighTower Advisors LLC now owns 3,256 shares of the information services provider’s stock worth $674,000 after acquiring an additional 56 shares during the last quarter. CX Institutional lifted its holdings in shares of VeriSign by 5.1% in the 4th quarter. CX Institutional now owns 1,173 shares of the information services provider’s stock worth $243,000 after acquiring an additional 57 shares during the last quarter. Whittier Trust Co. of Nevada Inc. lifted its holdings in VeriSign by 4.6% during the 4th quarter. Whittier Trust Co. of Nevada Inc. now owns 1,469 shares of the information services provider’s stock worth $304,000 after buying an additional 64 shares in the last quarter. Finally, Patriot Financial Group Insurance Agency LLC lifted its holdings in VeriSign by 5.5% during the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 1,429 shares of the information services provider’s stock worth $296,000 after buying an additional 74 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

VeriSign Price Performance

NASDAQ VRSN opened at $283.14 on Friday. The firm’s fifty day moving average price is $256.53 and its 200 day moving average price is $223.79. The company has a market capitalization of $26.59 billion, a price-to-earnings ratio of 35.39 and a beta of 0.80. VeriSign, Inc. has a 12 month low of $168.79 and a 12 month high of $288.95.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, April 24th. The information services provider reported $2.10 earnings per share (EPS) for the quarter, hitting the consensus estimate of $2.10. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%. The company had revenue of $402.30 million for the quarter, compared to the consensus estimate of $400.44 million. During the same period last year, the firm posted $1.92 EPS. VeriSign’s revenue for the quarter was up 4.7% on a year-over-year basis.

VeriSign Announces Dividend

The firm also recently disclosed a — dividend, which will be paid on Wednesday, May 28th. Shareholders of record on Monday, May 19th will be given a dividend of $0.77 per share. The ex-dividend date of this dividend is Monday, May 19th. VeriSign’s payout ratio is currently 37.65%.

Insiders Place Their Bets

In other news, SVP John Calys sold 447 shares of VeriSign stock in a transaction dated Monday, February 24th. The shares were 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. The trade was a 1.85% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Yehuda Ari Buchalter sold 600 shares of the firm’s stock in a transaction dated Tuesday, May 6th. The shares were sold at an average price of $283.79, for a total transaction of $170,274.00. Following the completion of the sale, the director now owns 3,735 shares of the company’s stock, valued at $1,059,955.65. This trade represents a 13.84% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,447 shares of company stock valued at $386,654. Insiders own 0.84% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have issued reports on VRSN. StockNews.com upgraded shares of VeriSign from a “hold” rating to a “buy” rating in a report on Saturday, April 12th. Robert W. Baird increased their price objective on shares of VeriSign from $275.00 to $285.00 and gave the company an “outperform” rating in a research report on Friday, April 25th. Finally, Citigroup increased their price objective on shares of VeriSign from $246.00 to $250.00 and gave the company a “buy” rating in a research report on Tuesday, February 4th.

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.