Connecticut Wealth Management LLC Invests $219,000 in VeriSign, Inc. (NASDAQ:VRSN)

Connecticut Wealth Management LLC bought a new stake in shares of VeriSign, Inc. (NASDAQ:VRSN) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,061 shares of the information services provider’s stock, valued at approximately $219,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James & Associates lifted its stake in VeriSign by 5.5% during the third quarter. Raymond James & Associates now owns 23,160 shares of the information services provider’s stock worth $4,691,000 after purchasing an additional 1,205 shares during the period. Forsta AP Fonden increased its stake in shares of VeriSign by 0.6% in the third quarter. Forsta AP Fonden now owns 16,400 shares of the information services provider’s stock valued at $3,321,000 after buying an additional 100 shares in the last quarter. IFM Investors Pty Ltd lifted its position in VeriSign by 4.5% during the 3rd quarter. IFM Investors Pty Ltd now owns 19,362 shares of the information services provider’s stock worth $3,921,000 after buying an additional 833 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. grew its holdings in VeriSign by 18.4% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 29,327 shares of the information services provider’s stock worth $5,940,000 after acquiring an additional 4,549 shares during the last quarter. Finally, First Horizon Advisors Inc. increased its position in VeriSign by 21.2% in the 3rd quarter. First Horizon Advisors Inc. now owns 3,062 shares of the information services provider’s stock valued at $620,000 after acquiring an additional 536 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

VeriSign Stock Up 0.1 %

NASDAQ VRSN traded up $0.25 during trading hours on Monday, hitting $168.57. The company’s stock had a trading volume of 340,800 shares, compared to its average volume of 636,732. The stock has a fifty day moving average of $186.93 and a 200 day moving average of $198.47. VeriSign, Inc. has a twelve month low of $167.04 and a twelve month high of $229.72. The firm has a market capitalization of $16.79 billion, a P/E ratio of 20.68 and a beta of 0.89.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.86 by $0.06. The business had revenue of $384.30 million for the quarter, compared to analyst estimates of $381.85 million. VeriSign had a negative return on equity of 47.21% and a net margin of 55.04%. The firm’s revenue was up 5.5% on a year-over-year basis. During the same period last year, the company earned $1.70 EPS.

Analyst Ratings Changes

Several analysts have recently commented on the stock. StockNews.com raised shares of VeriSign from a “hold” rating to a “buy” rating in a research note on Monday, April 29th. Robert W. Baird dropped their target price on VeriSign from $215.00 to $200.00 and set a “neutral” rating for the company in a research report on Friday, April 26th. Finally, Citigroup lowered their price objective on VeriSign from $237.00 to $236.00 and set a “buy” rating for the company in a research report on Tuesday, April 2nd.

Insider Activity at VeriSign

In related news, EVP Danny R. Mcpherson sold 2,875 shares of the business’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $194.19, for a total transaction of $558,296.25. Following the completion of the transaction, the executive vice president now owns 30,895 shares in the company, valued at $5,999,500.05. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, EVP Danny R. Mcpherson sold 2,875 shares of the firm’s stock in a transaction dated Friday, March 1st. The stock was sold at an average price of $194.19, for a total transaction of $558,296.25. Following the sale, the executive vice president now owns 30,895 shares of the company’s stock, valued at $5,999,500.05. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO Todd B. Strubbe sold 9,423 shares of the business’s stock in a transaction that occurred on Tuesday, February 20th. The shares were sold at an average price of $193.21, for a total value of $1,820,617.83. Following the completion of the transaction, the chief operating officer now 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 have sold 14,752 shares of company stock worth $2,853,989 in the last ninety days. Company insiders own 0.84% of the company’s stock.

About VeriSign

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.