Key Points
- EVP Thomas Indelicarto sold 166 shares of VeriSign on January 9 at an average price of $250 for $41,500; he now directly owns 31,111 shares, a 0.53% reduction in his position.
- VeriSign's most recent quarter (reported Oct. 23) posted EPS of $2.27 vs. a $2.25 consensus and revenue of $419.1M (up 7.3% YoY), with a high net margin (~49.9%) but a reported negative return on equity of 40.66%.
- The stock trades near $249 with a 12‑month range of $205.37–$310.60 and a market cap of $23.05B; VeriSign pays a quarterly dividend of $0.77 (1.2% yield) and carries a consensus analyst rating of "Hold" with a $282 price target.
VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) EVP Thomas Indelicarto sold 166 shares of the company's stock in a transaction dated Friday, January 9th. The stock was sold at an average price of $250.00, for a total value of $41,500.00. Following the completion of the transaction, the executive vice president directly owned 31,111 shares of the company's stock, valued at approximately $7,777,750. This trade represents a 0.53% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.
VeriSign Trading Down 0.1%
NASDAQ VRSN opened at $248.66 on Tuesday. VeriSign, Inc. has a 12 month low of $205.37 and a 12 month high of $310.60. The stock's 50 day moving average is $246.71 and its 200 day moving average is $264.39. The stock has a market cap of $23.05 billion, a PE ratio of 28.98 and a beta of 0.77.
VeriSign (NASDAQ:VRSN - Get Free Report) last issued its earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share for the quarter, topping analysts' consensus estimates of $2.25 by $0.02. The firm had revenue of $419.10 million during the quarter, compared to analyst estimates of $416.71 million. VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. VeriSign's revenue for the quarter was up 7.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.07 earnings per share.
VeriSign Dividend Announcement
The company also recently announced 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 1.2%. The ex-dividend date of this dividend was Tuesday, November 18th. VeriSign's payout ratio is 35.90%.
Institutional Trading of VeriSign
Several hedge funds and other institutional investors have recently bought and sold shares of VRSN. Livelsberger Financial Advisory purchased a new position in VeriSign during the second quarter worth $27,000. Bruce G. Allen Investments LLC raised its stake in shares of VeriSign by 56.5% in the second quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider's stock valued at $28,000 after acquiring an additional 35 shares during the period. Salomon & Ludwin LLC lifted its holdings in shares of VeriSign by 112.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider's stock worth $28,000 after acquiring an additional 54 shares during the last quarter. Root Financial Partners LLC purchased a new position in shares of VeriSign during the 3rd quarter worth about $29,000. Finally, Ameritas Advisory Services LLC bought a new position in VeriSign during the 2nd quarter valued at about $34,000. Hedge funds and other institutional investors own 92.90% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts have weighed in on the company. Robert W. Baird set a $325.00 price target on VeriSign in a report on Friday, October 24th. Citigroup reissued a "buy" rating on shares of VeriSign in a report on Friday, October 24th. JPMorgan Chase & Co. boosted their price target on shares of VeriSign from $270.00 to $271.00 and gave the stock a "neutral" rating in a research report on Tuesday, January 6th. Zacks Research lowered shares of VeriSign from a "hold" rating to a "strong sell" rating in a research report on Tuesday, December 30th. Finally, Weiss Ratings reissued 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 MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $282.00.
Check Out Our Latest Analysis on VRSN
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.
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