WESPAC Advisors LLC Buys New Stake in Verisign, Inc. (VRSN)

WESPAC Advisors LLC acquired a new stake in shares of Verisign, Inc. (NASDAQ:VRSN) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,116 shares of the information services provider’s stock, valued at approximately $899,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Oregon Public Employees Retirement Fund grew its stake in shares of Verisign by 41,120.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,763,452 shares of the information services provider’s stock worth $25,000 after purchasing an additional 3,754,322 shares during the last quarter. Athena Capital Advisors LLC bought a new stake in shares of Verisign in the fourth quarter worth $39,000. Bessemer Group Inc. grew its stake in shares of Verisign by 43.5% in the fourth quarter. Bessemer Group Inc. now owns 277 shares of the information services provider’s stock worth $41,000 after purchasing an additional 84 shares during the last quarter. Signet Investment Advisory Group Inc. bought a new stake in shares of Verisign in the fourth quarter worth $44,000. Finally, Sage Capital Advisors llc bought a new stake in shares of Verisign in the fourth quarter worth $62,000. Institutional investors and hedge funds own 94.09% of the company’s stock.

Shares of NASDAQ VRSN traded up $0.91 during trading on Friday, hitting $194.64. 581,435 shares of the company traded hands, compared to its average volume of 550,922. Verisign, Inc. has a fifty-two week low of $123.80 and a fifty-two week high of $203.28. The firm has a market capitalization of $23.09 billion, a P/E ratio of 40.98 and a beta of 1.08.

Verisign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.31 earnings per share for the quarter, beating the consensus estimate of $1.25 by $0.06. Verisign had a net margin of 49.98% and a negative return on equity of 43.07%. The firm had revenue of $306.41 million for the quarter, compared to analyst estimates of $302.63 million. During the same quarter in the prior year, the business earned $1.07 earnings per share. The business’s quarterly revenue was up 2.4% compared to the same quarter last year. Sell-side analysts forecast that Verisign, Inc. will post 4.96 earnings per share for the current fiscal year.

In related news, Director Timothy Tomlinson sold 378 shares of the company’s stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $199.55, for a total value of $75,429.90. Following the sale, the director now owns 34,094 shares in the company, valued at approximately $6,803,457.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 1.20% of the company’s stock.

A number of brokerages have commented on VRSN. Zacks Investment Research raised shares of Verisign from a “hold” rating to a “buy” rating and set a $224.00 price target on the stock in a research report on Tuesday, April 30th. BidaskClub raised shares of Verisign from a “buy” rating to a “strong-buy” rating in a research report on Friday, March 22nd. Citigroup reaffirmed a “neutral” rating and set a $195.00 price target (up previously from $175.00) on shares of Verisign in a research report on Tuesday, March 5th. Finally, ValuEngine raised shares of Verisign from a “buy” rating to a “strong-buy” rating in a research report on Tuesday, February 12th. Three analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $180.80.

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Verisign Profile

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

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Institutional Ownership by Quarter for Verisign (NASDAQ:VRSN)

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