Stevens Capital Management LP Grows Holdings in VeriSign, Inc. (NASDAQ:VRSN)

Stevens Capital Management LP boosted its holdings in shares of VeriSign, Inc. (NASDAQ:VRSN) by 243.1% in the fourth quarter, HoldingsChannel reports. The fund owned 13,489 shares of the information services provider’s stock after acquiring an additional 9,558 shares during the period. VeriSign accounts for 0.7% of Stevens Capital Management LP’s portfolio, making the stock its 26th biggest holding. Stevens Capital Management LP’s holdings in VeriSign were worth $2,778,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. Cary Street Partners Investment Advisory LLC grew its position in VeriSign by 52.0% during the 3rd quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 52 shares during the last quarter. Baldwin Brothers LLC MA raised its holdings in VeriSign by 158.6% in the 4th quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock worth $37,000 after acquiring an additional 111 shares during the last quarter. UMB Bank n.a. lifted its position in VeriSign by 91.7% in the 3rd quarter. UMB Bank n.a. now owns 347 shares of the information services provider’s stock valued at $70,000 after acquiring an additional 166 shares in the last quarter. Larson Financial Group LLC boosted its stake in VeriSign by 251.5% during the 3rd quarter. Larson Financial Group LLC now owns 355 shares of the information services provider’s stock valued at $72,000 after purchasing an additional 254 shares during the last quarter. Finally, CX Institutional bought a new stake in shares of VeriSign in the 4th quarter worth $79,000. Institutional investors own 92.90% of the company’s stock.

VeriSign Price Performance

VeriSign stock traded down $7.20 during mid-day trading on Friday, reaching $175.48. 1,931,522 shares of the stock traded hands, compared to its average volume of 607,025. VeriSign, Inc. has a 12-month low of $174.51 and a 12-month high of $229.72. The business’s 50-day moving average is $189.66 and its 200-day moving average is $200.25. The stock has a market capitalization of $17.57 billion, a PE ratio of 22.71 and a beta of 0.88.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.92 earnings per share for the quarter, topping the consensus estimate of $1.86 by $0.06. The firm had revenue of $384.30 million for the quarter, compared to analysts’ expectations of $381.85 million. VeriSign had a net margin of 54.74% and a negative return on equity of 46.56%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.70 EPS.

Insider Activity

In related news, EVP Thomas C. Indelicarto sold 613 shares of the firm’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $195.33, for a total value of $119,737.29. Following the transaction, the executive vice president now directly owns 43,143 shares of the company’s stock, valued at approximately $8,427,122.19. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, EVP Thomas C. Indelicarto sold 613 shares of the business’s stock in a transaction that occurred on Tuesday, February 13th. The stock was sold at an average price of $195.33, for a total transaction of $119,737.29. Following the completion of the transaction, the executive vice president now directly owns 43,143 shares in the company, valued at approximately $8,427,122.19. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Todd B. Strubbe sold 9,423 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $193.21, for a total transaction of $1,820,617.83. Following the completion of the sale, the chief operating officer now directly owns 111,551 shares of the company’s stock, valued at $21,552,768.71. The disclosure for this sale can be found here. Insiders sold a total of 14,877 shares of company stock valued at $2,878,864 in the last 90 days. Company insiders own 0.94% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on VRSN shares. Robert W. Baird lowered their price target on VeriSign from $215.00 to $200.00 and set a “neutral” rating on the stock in a report on Friday. Citigroup lowered their target price on shares of VeriSign from $237.00 to $236.00 and set a “buy” rating on the stock in a research note on Tuesday, April 2nd. Finally, StockNews.com lowered shares of VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday, April 3rd.

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.