Willis Investment Counsel Boosts Stock Position in VeriSign, Inc. $VRSN

Willis Investment Counsel boosted its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 57.5% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,493 shares of the information services provider’s stock after acquiring an additional 3,102 shares during the period. Willis Investment Counsel’s holdings in VeriSign were worth $2,063,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Advisors Asset Management Inc. lifted its holdings in VeriSign by 25.3% in the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock worth $50,000 after buying an additional 40 shares in the last quarter. Accretive Wealth Partners LLC lifted its holdings in VeriSign by 0.8% in the 3rd quarter. Accretive Wealth Partners LLC now owns 5,779 shares of the information services provider’s stock worth $1,616,000 after buying an additional 44 shares in the last quarter. OFI Invest Asset Management lifted its holdings in VeriSign by 11.6% in the 3rd quarter. OFI Invest Asset Management now owns 452 shares of the information services provider’s stock worth $126,000 after buying an additional 47 shares in the last quarter. Bruce G. Allen Investments LLC lifted its holdings in VeriSign by 51.5% in the 3rd quarter. Bruce G. Allen Investments LLC now owns 147 shares of the information services provider’s stock worth $41,000 after buying an additional 50 shares in the last quarter. Finally, WealthCollab LLC lifted its holdings in VeriSign by 19.1% in the 3rd quarter. WealthCollab LLC now owns 312 shares of the information services provider’s stock worth $87,000 after buying an additional 50 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at VeriSign

In related news, CEO D James Bidzos sold 2,000 shares of the business’s stock in a transaction dated Wednesday, January 14th. The shares were sold at an average price of $248.28, for a total transaction of $496,560.00. Following the completion of the sale, the chief executive officer owned 414,099 shares of the company’s stock, valued at $102,812,499.72. This represents a 0.48% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Thomas C. Indelicarto sold 498 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $274.00, for a total transaction of $136,452.00. Following the sale, the executive vice president directly owned 38,700 shares of the company’s stock, valued at approximately $10,603,800. This represents a 1.27% 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. In the last ninety days, insiders have sold 9,656 shares of company stock valued at $2,395,118. Insiders own 0.84% of the company’s stock.

VeriSign Stock Performance

VRSN opened at $270.90 on Thursday. The company has a 50-day moving average of $237.23 and a 200-day moving average of $247.43. The company has a market capitalization of $24.84 billion, a P/E ratio of 30.75 and a beta of 0.70. VeriSign, Inc. has a 1-year low of $208.86 and a 1-year high of $310.60.

VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.23 earnings per share for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.06). VeriSign had a net margin of 49.84% and a negative return on equity of 40.40%. The business had revenue of $425.30 million for the quarter, compared to the consensus estimate of $424.04 million. During the same period in the prior year, the company earned $2.00 EPS. VeriSign’s quarterly revenue was up 7.6% on a year-over-year basis.

VeriSign Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Thursday, February 19th were given a dividend of $0.81 per share. The ex-dividend date of this dividend was Thursday, February 19th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.2%. This is a boost from VeriSign’s previous quarterly dividend of $0.77. VeriSign’s payout ratio is currently 36.78%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Zacks Research upgraded shares of VeriSign from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. JPMorgan Chase & Co. boosted their target price on shares of VeriSign from $270.00 to $271.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 6th. Citigroup boosted their target price on shares of VeriSign from $280.00 to $295.00 and gave the stock a “buy” rating in a research report on Thursday, April 2nd. Finally, Weiss Ratings raised shares of VeriSign from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, March 27th. Three equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, VeriSign presently has an average rating of “Moderate Buy” and a consensus target price of $297.00.

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.