Key Points
- VeriSign EVP Thomas Indelicarto sold 332 shares on Jan. 6 at an average price of $240.83 for a total of $79,955.56, leaving him with 31,277 shares (a 1.05% reduction in his stake).
- Recent results: VeriSign reported $2.27 EPS—beating estimates—and $419.1 million in revenue (up 7.3% year-over-year); the company has a market cap of about $22.6 billion and a P/E of 28.41.
- Dividends and analyst view: VeriSign pays a $0.77 quarterly dividend (1.3% yield, 35.9% payout ratio), and analysts hold a consensus "Hold" rating with an average price target of $282.
VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) EVP Thomas Indelicarto sold 332 shares of VeriSign stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $240.83, for a total transaction of $79,955.56. Following the completion of the sale, the executive vice president owned 31,277 shares in the company, valued at $7,532,439.91. The trade was a 1.05% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.
VeriSign Price Performance
VeriSign stock opened at $243.78 on Thursday. The company has a market cap of $22.60 billion, a price-to-earnings ratio of 28.41 and a beta of 0.77. The firm has a 50-day moving average of $246.22 and a 200-day moving average of $265.26. VeriSign, Inc. has a one year low of $205.37 and a one year high of $310.60.
VeriSign (NASDAQ:VRSN - Get Free Report) last released its earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.25 by $0.02. VeriSign had a negative return on equity of 40.66% and a net margin of 49.86%.The business had revenue of $419.10 million for the quarter, compared to analyst estimates of $416.71 million. During the same quarter in the prior year, the company posted $2.07 earnings per share. VeriSign's revenue was up 7.3% on a year-over-year basis.
VeriSign Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 18th were issued a $0.77 dividend. This represents a $3.08 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, November 18th. VeriSign's dividend payout ratio is presently 35.90%.
Wall Street Analysts Forecast Growth
A number of brokerages recently weighed in on VRSN. Robert W. Baird set a $325.00 target price on shares of VeriSign in a report on Friday, October 24th. Zacks Research lowered shares of VeriSign from a "hold" rating to a "strong sell" rating in a research note on Tuesday, December 30th. JPMorgan Chase & Co. raised their target price on shares of VeriSign from $270.00 to $271.00 and gave the company a "neutral" rating in a research note on Tuesday. Citigroup reiterated a "buy" rating on shares of VeriSign in a report on Friday, October 24th. Finally, Weiss Ratings restated a "hold (c+)" rating on shares of VeriSign in a research note on Monday, December 29th. Two research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, VeriSign currently has a consensus rating of "Hold" and an average price target of $282.00.
View Our Latest Research Report on VRSN
Institutional Investors Weigh In On VeriSign
Several institutional investors have recently made changes to their positions in the stock. Bruce G. Allen Investments LLC grew its holdings in shares of VeriSign by 56.5% during the 2nd quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider's stock worth $28,000 after purchasing an additional 35 shares in the last quarter. Zions Bancorporation National Association UT lifted its position in VeriSign by 20.2% during the second quarter. Zions Bancorporation National Association UT now owns 226 shares of the information services provider's stock worth $65,000 after purchasing an additional 38 shares during the period. Advisors Asset Management Inc. lifted its position in VeriSign by 25.3% during the first quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider's stock worth $50,000 after purchasing an additional 40 shares during the period. Accretive Wealth Partners LLC grew its stake in VeriSign by 0.8% during the third quarter. Accretive Wealth Partners LLC now owns 5,779 shares of the information services provider's stock worth $1,616,000 after buying an additional 44 shares in the last quarter. Finally, Gries Financial LLC increased its holdings in VeriSign by 2.8% in the 2nd quarter. Gries Financial LLC now owns 1,745 shares of the information services provider's stock valued at $504,000 after buying an additional 47 shares during the period. 92.90% of the stock is currently owned by institutional investors.
VeriSign Company Profile
(
Get Free Report)
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.
Featured Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
