Abacus FCF Advisors LLC Grows Position in VeriSign, Inc. $VRSN

Abacus FCF Advisors LLC lifted its position in VeriSign, Inc. (NASDAQ:VRSN) by 25.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 68,706 shares of the information services provider’s stock after buying an additional 13,837 shares during the period. VeriSign makes up about 2.6% of Abacus FCF Advisors LLC’s portfolio, making the stock its 9th largest position. Abacus FCF Advisors LLC owned approximately 0.07% of VeriSign worth $19,208,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of the company. Kestra Advisory Services LLC increased its position in shares of VeriSign by 39.7% during the first quarter. Kestra Advisory Services LLC now owns 3,338 shares of the information services provider’s stock worth $847,000 after purchasing an additional 949 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in VeriSign by 2.3% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 2,334 shares of the information services provider’s stock worth $593,000 after buying an additional 53 shares during the last quarter. Evergreen Capital Management LLC acquired a new position in VeriSign during the 1st quarter valued at about $282,000. Nomura Holdings Inc. raised its stake in VeriSign by 22.3% in the first quarter. Nomura Holdings Inc. now owns 3,324 shares of the information services provider’s stock valued at $844,000 after buying an additional 606 shares during the last quarter. Finally, Flputnam Investment Management Co. raised its stake in VeriSign by 1.8% in the first quarter. Flputnam Investment Management Co. now owns 2,183 shares of the information services provider’s stock valued at $554,000 after buying an additional 39 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

VeriSign Stock Performance

Shares of VRSN opened at $245.15 on Tuesday. The business’s 50-day moving average is $246.92 and its two-hundred day moving average is $267.03. The company has a market capitalization of $22.73 billion, a P/E ratio of 28.57 and a beta of 0.78. VeriSign, Inc. has a fifty-two week low of $202.64 and a fifty-two week high of $310.60.

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

VeriSign Announces Dividend

The company also recently disclosed 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. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.3%. VeriSign’s dividend payout ratio (DPR) is presently 35.90%.

Insider Buying and Selling

In related news, EVP Thomas C. Indelicarto sold 501 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $250.07, for a total transaction of $125,285.07. Following the sale, the executive vice president owned 31,609 shares in the company, valued at approximately $7,904,462.63. This trade represents a 1.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO D James Bidzos sold 2,000 shares of VeriSign stock in a transaction on Wednesday, December 17th. The shares were sold at an average price of $244.25, for a total transaction of $488,500.00. Following the completion of the transaction, the chief executive officer directly owned 423,099 shares of the company’s stock, valued at $103,341,930.75. The trade was a 0.47% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 47,839 shares of company stock worth $12,042,404 in the last ninety days. Corporate insiders own 0.84% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on VRSN. Robert W. Baird set a $325.00 price target on VeriSign in a research note on Friday, October 24th. JPMorgan Chase & Co. began coverage on shares of VeriSign in a research report on Tuesday, October 28th. They set a “neutral” rating and a $270.00 target price on the stock. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a report on Monday, December 22nd. Citigroup reiterated a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. Finally, Zacks Research raised VeriSign to a “hold” rating in a research report on Thursday, October 30th. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $281.67.

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.