Burney Co. Boosts Stake in VeriSign, Inc. (NASDAQ:VRSN)

Burney Co. raised its holdings in VeriSign, Inc. (NASDAQ:VRSN - Free Report) by 19.5% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,060 shares of the information services provider's stock after buying an additional 1,479 shares during the period. Burney Co.'s holdings in VeriSign were worth $1,875,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in the business. Concord Wealth Partners boosted its stake in shares of VeriSign by 93.2% in the 3rd quarter. Concord Wealth Partners now owns 226 shares of the information services provider's stock worth $43,000 after buying an additional 109 shares during the last quarter. Tobam increased 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 purchasing an additional 118 shares during the last quarter. Blue Trust Inc. boosted its holdings in shares of VeriSign by 138.6% in the 3rd quarter. Blue Trust Inc. now owns 420 shares of the information services provider's stock worth $75,000 after buying an additional 244 shares during the last quarter. Intact Investment Management Inc. bought a new position in VeriSign during the third quarter valued at about $76,000. Finally, True Wealth Design LLC increased its holdings in VeriSign by 16,966.7% during the third quarter. True Wealth Design LLC now owns 512 shares of the information services provider's stock worth $97,000 after buying an additional 509 shares during the last quarter. 92.90% of the stock is currently owned by institutional investors and hedge funds.

VeriSign Price Performance

Shares of NASDAQ:VRSN traded up $0.58 during trading on Thursday, hitting $210.68. 466,763 shares of the company were exchanged, compared to its average volume of 817,436. VeriSign, Inc. has a 52-week low of $167.04 and a 52-week high of $213.68. The stock has a 50 day moving average of $195.37 and a 200 day moving average of $186.33. The company has a market cap of $20.25 billion, a PE ratio of 24.50 and a beta of 0.89.

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

Insider Transactions at VeriSign

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

Wall Street Analysts Forecast Growth

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

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.