Universal Beteiligungs und Servicegesellschaft mbH Acquires 22,335 Shares of VeriSign, Inc. $VRSN

Universal Beteiligungs und Servicegesellschaft mbH raised its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 9.2% during the second quarter, Holdings Channel reports. The institutional investor owned 264,698 shares of the information services provider’s stock after buying an additional 22,335 shares during the quarter. Universal Beteiligungs und Servicegesellschaft mbH’s holdings in VeriSign were worth $76,445,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Livelsberger Financial Advisory bought a new position in shares of VeriSign during the second quarter valued at about $27,000. Bruce G. Allen Investments LLC boosted its stake in shares of VeriSign by 56.5% in the 2nd quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock worth $28,000 after buying an additional 35 shares during the last quarter. Bayforest Capital Ltd purchased a new stake in shares of VeriSign during the second quarter valued at approximately $34,000. Ameritas Advisory Services LLC bought a new stake in VeriSign during the second quarter worth $34,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in VeriSign in the first quarter worth $34,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

VeriSign Stock Up 0.6%

Shares of VRSN stock traded up $1.47 during mid-day trading on Monday, reaching $254.35. 41,170 shares of the company’s stock traded hands, compared to its average volume of 864,897. The company’s 50-day moving average price is $265.20 and its 200-day moving average price is $273.95. The company has a market cap of $23.58 billion, a P/E ratio of 29.56 and a beta of 0.76. VeriSign, Inc. has a 12 month low of $176.62 and a 12 month high of $310.60.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, October 23rd. The information services provider reported $2.27 EPS for the quarter, topping the consensus estimate of $2.25 by $0.02. VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. The business had revenue of $419.10 million for the quarter, compared to analyst estimates of $416.71 million. During the same quarter in the previous year, the firm posted $2.07 earnings per share. VeriSign’s quarterly revenue was up 7.3% on a year-over-year basis. VeriSign has set its FY 2025 guidance at EPS.

VeriSign Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 18th will be issued a $0.77 dividend. This represents a $3.08 annualized dividend and a yield of 1.2%. The ex-dividend date of this dividend is Tuesday, November 18th. VeriSign’s payout ratio is 35.90%.

VeriSign declared that its board has authorized a stock repurchase plan on Thursday, July 24th that permits the company to buyback $1.11 billion in shares. This buyback authorization permits the information services provider to buy up to 4.1% of its stock through open market purchases. Stock buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. JPMorgan Chase & Co. initiated coverage on shares of VeriSign in a report on Tuesday, October 28th. They issued a “neutral” rating and a $270.00 price target on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a research note on Thursday. Robert W. Baird set a $325.00 price target on shares of VeriSign in a report on Friday, October 24th. Zacks Research upgraded VeriSign to a “hold” rating in a research report on Thursday, October 30th. Finally, Citigroup reiterated a “buy” rating on shares of VeriSign in a research report on Friday, October 24th. One investment analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $281.67.

Insider Buying and Selling

In related news, CEO D James Bidzos sold 2,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $251.27, for a total transaction of $502,540.00. Following the completion of the sale, the chief executive officer owned 451,439 shares of the company’s stock, valued at $113,433,077.53. This trade represents a 0.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Danny R. Mcpherson sold 2,500 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $236.87, for a total value of $592,175.00. Following the completion of the transaction, the executive vice president directly owned 28,577 shares in the company, valued at $6,769,033.99. This trade represents a 8.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 48,539 shares of company stock valued at $12,990,759. Insiders own 0.84% of the company’s stock.

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.