VeriSign, Inc. (NASDAQ:VRSN) Position Reduced by Argyle Capital Management Inc.

Argyle Capital Management Inc. trimmed its position in shares of VeriSign, Inc. (NASDAQ:VRSN) by 22.1% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 9,061 shares of the information services provider’s stock after selling 2,564 shares during the period. Argyle Capital Management Inc.’s holdings in VeriSign were worth $1,866,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the stock. Cary Street Partners Investment Advisory LLC lifted 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 worth $31,000 after acquiring an additional 52 shares during the last quarter. Baldwin Brothers LLC MA lifted its holdings in VeriSign by 158.6% in the fourth quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock valued at $37,000 after buying an additional 111 shares during the period. UMB Bank n.a. raised its holdings in VeriSign by 91.7% in the third quarter. UMB Bank n.a. now owns 347 shares of the information services provider’s stock worth $70,000 after purchasing an additional 166 shares during the period. Larson Financial Group LLC raised its holdings in VeriSign by 251.5% in the third quarter. Larson Financial Group LLC now owns 355 shares of the information services provider’s stock worth $72,000 after purchasing an additional 254 shares during the period. Finally, CX Institutional bought a new stake in shares of VeriSign during the fourth quarter worth $79,000. 92.90% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at VeriSign

In related news, EVP Thomas C. Indelicarto sold 613 shares of the stock in a transaction that occurred on Tuesday, February 6th. The shares were sold at an average price of $199.05, for a total value of $122,017.65. Following the completion of the sale, the executive vice president now directly owns 34,816 shares of the company’s stock, valued at approximately $6,930,124.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, COO Todd B. Strubbe sold 9,423 shares of the firm’s stock in a transaction on Tuesday, February 20th. The stock was sold at an average price of $193.21, for a total value of $1,820,617.83. Following the completion of the sale, the chief operating officer now directly owns 111,551 shares in the company, valued at $21,552,768.71. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, EVP Thomas C. Indelicarto sold 613 shares of the firm’s stock in a transaction on Tuesday, February 6th. The stock was sold at an average price of $199.05, for a total value of $122,017.65. Following the completion of the sale, the executive vice president now owns 34,816 shares of the company’s stock, valued at $6,930,124.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,877 shares of company stock worth $2,878,864. Company insiders own 0.94% of the company’s stock.

VeriSign Price Performance

NASDAQ VRSN traded down $7.20 on Friday, reaching $175.48. 1,931,523 shares of the company’s stock traded hands, compared to its average volume of 646,443. VeriSign, Inc. has a 12 month low of $174.51 and a 12 month high of $229.72. The stock has a market cap of $17.57 billion, a PE ratio of 21.56 and a beta of 0.88. The stock has a 50-day simple moving average of $189.29 and a 200 day simple moving average of $199.90.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, April 25th. The information services provider reported $1.92 earnings per share for the quarter, beating the consensus estimate of $1.86 by $0.06. VeriSign had a net margin of 55.04% and a negative return on equity of 47.39%. The business had revenue of $384.30 million for the quarter, compared to analysts’ expectations of $381.85 million. During the same quarter in the previous year, the business posted $1.70 earnings per share. The firm’s revenue for the quarter was up 5.5% compared to the same quarter last year.

Analyst Upgrades and Downgrades

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

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.