Burney Co. Acquires 1,479 Shares of VeriSign, Inc. (NASDAQ:VRSN)

Burney Co. raised its holdings in VeriSign, Inc. (NASDAQ:VRSN) by 19.5% during the 4th quarter, HoldingsChannel.com reports. The fund owned 9,060 shares of the information services provider’s stock after acquiring an additional 1,479 shares during the quarter. Burney Co.’s holdings in VeriSign were worth $1,875,000 at the end of the most recent reporting period.

A number of other large investors have also recently modified their holdings of the business. Concord Wealth Partners raised its stake in VeriSign by 93.2% in the third quarter. Concord Wealth Partners now owns 226 shares of the information services provider’s stock valued at $43,000 after purchasing an additional 109 shares in the last quarter. Tobam raised its position in shares of VeriSign by 61.1% during the 3rd quarter. Tobam now owns 311 shares of the information services provider’s stock valued at $59,000 after buying an additional 118 shares in the last quarter. Blue Trust Inc. raised its position in shares of VeriSign by 138.6% during the 3rd quarter. Blue Trust Inc. now owns 420 shares of the information services provider’s stock valued at $75,000 after buying an additional 244 shares in the last quarter. Intact Investment Management Inc. bought a new stake in shares of VeriSign during the 3rd quarter worth $76,000. Finally, True Wealth Design LLC grew its position in VeriSign by 16,966.7% in the third quarter. True Wealth Design LLC now owns 512 shares of the information services provider’s stock worth $97,000 after acquiring an additional 509 shares in the last quarter. Institutional investors own 92.90% of the company’s stock.

Insiders Place Their Bets

In other news, EVP Danny R. Mcpherson sold 2,092 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $192.43, for a total transaction of $402,563.56. Following the completion of the sale, the executive vice president now directly owns 26,157 shares in the company, valued at approximately $5,033,391.51. This represents a 7.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.84% of the company’s stock.

VeriSign Trading Up 0.5 %

NASDAQ VRSN opened at $210.10 on Thursday. The stock has a 50-day moving average of $194.90 and a 200-day moving average of $186.16. VeriSign, Inc. has a 1-year low of $167.04 and a 1-year high of $213.68. The firm has a market cap of $20.19 billion, a PE ratio of 24.43 and a beta of 0.89.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, October 24th. The information services provider reported $2.07 earnings per share for the quarter, beating analysts’ consensus estimates of $2.01 by $0.06. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. The firm had revenue of $390.60 million during the quarter, compared to analyst estimates of $390.19 million. During the same quarter in the prior year, the firm posted $1.83 earnings per share. The business’s quarterly revenue was up 3.8% compared to the same quarter last year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on VRSN shares. StockNews.com raised VeriSign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 7th. Robert W. Baird upgraded VeriSign from a “neutral” rating to an “outperform” rating and boosted their target price for the stock from $200.00 to $250.00 in a research report on Monday, December 9th. Baird R W raised VeriSign from a “hold” rating to a “strong-buy” rating in a research note on Monday, December 9th. Finally, Citigroup boosted their price objective on shares of VeriSign from $210.00 to $238.00 and gave the stock a “buy” rating in a report on Friday, January 3rd.

VeriSign Company 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.