Key Points
- Thomas Indelicarto sold 498 shares of VeriSign on Jan. 13 at an average price of $248.71 for about $123,858, trimming his stake by 1.6% to 30,613 shares (disclosed on an SEC Form 4).
- In the most recent quarter VeriSign reported $2.27 EPS (beating estimates by $0.02) on $419.1M revenue, and it pays a quarterly dividend of $0.77 ($3.08 annual, ~1.2% yield).
- Analysts are mixed with an average rating of "Hold" and a consensus target of $282; the stock trades in a one-year range of $205.37–$310.60 and has a market cap of about $23.11 billion.
VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) EVP Thomas Indelicarto sold 498 shares of the company's stock in a transaction that occurred on Tuesday, January 13th. The stock was sold at an average price of $248.71, for a total value of $123,857.58. Following the transaction, the executive vice president owned 30,613 shares of the company's stock, valued at approximately $7,613,759.23. This trade represents a 1.60% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
VeriSign Price Performance
NASDAQ:VRSN opened at $249.31 on Thursday. The stock has a market cap of $23.11 billion, a P/E ratio of 29.06 and a beta of 0.77. VeriSign, Inc. has a one year low of $205.37 and a one year high of $310.60. The company has a fifty day moving average price of $246.94 and a 200 day moving average price of $264.00.
VeriSign (NASDAQ:VRSN - Get Free Report) last posted its quarterly earnings data 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 net margin of 49.86% and a negative return on equity of 40.66%. The company had revenue of $419.10 million for the quarter, compared to the consensus estimate of $416.71 million. During the same quarter in the previous year, the firm posted $2.07 EPS. The business's revenue was up 7.3% compared to the same quarter last year.
VeriSign Announces Dividend
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 18th were given a dividend of $0.77 per share. The ex-dividend date was Tuesday, November 18th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.2%. VeriSign's payout ratio is currently 35.90%.
Analysts Set New Price Targets
A number of research firms have recently commented on VRSN. Citigroup reaffirmed a "buy" rating on shares of VeriSign in a report on Friday, October 24th. JPMorgan Chase & Co. upped their price objective on VeriSign from $270.00 to $271.00 and gave the company a "neutral" rating in a research note on Tuesday, January 6th. Robert W. Baird set a $325.00 target price on VeriSign in a research report on Friday, October 24th. Weiss Ratings reiterated a "hold (c+)" rating on shares of VeriSign in a research report on Monday, December 29th. Finally, Zacks Research lowered shares of VeriSign from a "hold" rating to a "strong sell" rating in a report on Tuesday, December 30th. Two investment analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $282.00.
Read Our Latest Analysis on VeriSign
Institutional Inflows and Outflows
Several institutional investors and hedge funds have recently made changes to their positions in VRSN. Bruce G. Allen Investments LLC boosted its position in 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 acquiring an additional 35 shares during the last quarter. Zions Bancorporation National Association UT boosted 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. increased its holdings in shares of VeriSign by 25.3% in the first quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider's stock valued at $50,000 after purchasing an additional 40 shares during the last quarter. Accretive Wealth Partners LLC raised its position in shares of VeriSign by 0.8% in the third quarter. Accretive Wealth Partners LLC now owns 5,779 shares of the information services provider's stock valued at $1,616,000 after purchasing an additional 44 shares during the period. Finally, Gries Financial LLC grew its stake 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 last quarter. Institutional investors and hedge funds own 92.90% of the company's stock.
About VeriSign
(
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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