VeriSign (NASDAQ:VRSN) EVP Sells $36,393.84 in Stock

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas Indelicarto sold 166 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $219.24, for a total value of $36,393.84. Following the transaction, the executive vice president directly owned 42,023 shares in the company, valued at approximately $9,213,122.52. The trade was a 0.39% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link.

VeriSign Price Performance

VeriSign stock opened at $219.03 on Friday. VeriSign, Inc. has a 1-year low of $208.86 and a 1-year high of $310.60. The business has a fifty day moving average price of $242.86 and a 200-day moving average price of $257.05. The stock has a market capitalization of $20.09 billion, a price-to-earnings ratio of 24.86 and a beta of 0.75.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, February 5th. The information services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates of $2.29 by ($0.06). VeriSign had a net margin of 49.84% and a negative return on equity of 40.40%. The business had revenue of $425.30 million during the quarter, compared to analysts’ expectations of $424.04 million. During the same quarter last year, the business posted $2.00 earnings per share. The company’s quarterly revenue was up 7.6% compared to the same quarter last year.

VeriSign Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 19th will be paid a $0.81 dividend. This is a boost from VeriSign’s previous quarterly dividend of $0.77. The ex-dividend date is Thursday, February 19th. This represents a $3.24 dividend on an annualized basis and a yield of 1.5%. VeriSign’s dividend payout ratio (DPR) is 34.96%.

Hedge Funds Weigh In On VeriSign

Institutional investors and hedge funds have recently modified their holdings of the stock. Salomon & Ludwin LLC raised its position in VeriSign by 112.5% during the third quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock valued at $28,000 after acquiring an additional 54 shares in the last quarter. Root Financial Partners LLC acquired a new stake in shares of VeriSign during the 3rd quarter worth approximately $29,000. Ameritas Advisory Services LLC purchased a new position in shares of VeriSign during the 2nd quarter valued at approximately $34,000. Bayforest Capital Ltd acquired a new position in shares of VeriSign in the 2nd quarter valued at $34,000. Finally, Sunbelt Securities Inc. boosted its holdings in VeriSign by 429.2% during the third quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider’s stock worth $36,000 after buying an additional 103 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Zacks Research upgraded shares of VeriSign from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Weiss Ratings restated a “hold (c+)” rating on shares of VeriSign in a research note on Monday, December 29th. JPMorgan Chase & Co. boosted their price target on VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. Citigroup cut their price objective on VeriSign from $337.00 to $280.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Finally, Robert W. Baird set a $325.00 target price on VeriSign in a report on Friday, October 24th. Two research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $292.00.

About VeriSign

VeriSign, Inc (NASDAQ: VRSN) is an internet infrastructure company that operates critical components of the global Domain Name System (DNS) and provides cybersecurity-related services. The company is best known as the authoritative registry operator for the .com and .net top-level domains, maintaining the central databases and zone files that enable domain name resolution for millions of websites. VeriSign’s registry role is performed under contractual agreements with Internet Corporation for Assigned Names and Numbers (ICANN) and involves high-availability, highly secure operations to support continuous internet connectivity.

In addition to its registry business, VeriSign offers a suite of services designed to protect and accelerate DNS and internet traffic for enterprises and service providers.