Key Points
- VeriSign EVP Thomas Indelicarto sold 498 shares on March 3 at an average price of $231.78 for about $115,426, leaving him with 40,028 shares (a 1.23% reduction valued at roughly $9.28M).
- Recent results and price: VeriSign reported quarterly EPS of $2.23 vs. $2.29 expected and revenue of $425.3M (+7.6% YoY); shares traded around $238.48 with a market cap of $21.87B and a PE of ~27.
- Dividend and analyst view: The company raised its quarterly dividend to $0.81 ($3.24 annual, ~1.4% yield), while analysts hold an average "Hold" rating with a $292 consensus price target and institutions own about 92.9% of the stock.
VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) EVP Thomas Indelicarto sold 498 shares of the company's stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $231.78, for a total value of $115,426.44. Following the sale, the executive vice president owned 40,028 shares in the company, valued at approximately $9,277,689.84. The trade was a 1.23% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.
VeriSign Price Performance
Shares of NASDAQ:VRSN traded down $0.35 during mid-day trading on Thursday, hitting $238.48. The company had a trading volume of 243,591 shares, compared to its average volume of 784,721. The company has a market capitalization of $21.87 billion, a PE ratio of 27.07 and a beta of 0.76. The firm has a fifty day moving average price of $236.99 and a 200 day moving average price of $252.64. VeriSign, Inc. has a one year low of $208.86 and a one year high of $310.60.
VeriSign (NASDAQ:VRSN - Get Free Report) last issued its earnings results on Thursday, February 5th. The information services provider reported $2.23 earnings per share for the quarter, missing analysts' consensus estimates of $2.29 by ($0.06). VeriSign had a negative return on equity of 40.40% and a net margin of 49.84%.The firm had revenue of $425.30 million for the quarter, compared to analyst estimates of $424.04 million. During the same period in the previous year, the company earned $2.00 earnings per share. VeriSign's revenue for the quarter was up 7.6% compared to the same quarter last year.
VeriSign Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Thursday, February 19th were issued a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a yield of 1.4%. This is an increase from VeriSign's previous quarterly dividend of $0.77. The ex-dividend date was Thursday, February 19th. VeriSign's dividend payout ratio is currently 36.78%.
Institutional Investors Weigh In On VeriSign
Several institutional investors have recently made changes to their positions in the stock. Zions Bancorporation National Association UT lifted its holdings in shares of VeriSign by 20.2% during the 2nd quarter. Zions Bancorporation National Association UT now owns 226 shares of the information services provider's stock worth $65,000 after acquiring an additional 38 shares during the last quarter. Advisors Asset Management Inc. raised its holdings in shares of VeriSign by 25.3% during the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider's stock valued at $50,000 after buying an additional 40 shares in the last quarter. Tranquilli Financial Advisor LLC lifted its position in VeriSign by 5.1% in the 4th quarter. Tranquilli Financial Advisor LLC now owns 872 shares of the information services provider's stock worth $212,000 after buying an additional 42 shares during the last quarter. Accretive Wealth Partners LLC boosted its stake in VeriSign by 0.8% in 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, One Wealth Advisors LLC grew its position in VeriSign by 3.8% during the fourth quarter. One Wealth Advisors LLC now owns 1,215 shares of the information services provider's stock valued at $295,000 after acquiring an additional 44 shares during the last quarter. Hedge funds and other institutional investors own 92.90% of the company's stock.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on VRSN shares. Zacks Research upgraded shares of VeriSign from a "strong sell" rating to a "hold" rating in a report on Monday, February 9th. Weiss Ratings reissued a "hold (c+)" rating on shares of VeriSign in a research report on Monday, December 29th. Citigroup decreased their target price on VeriSign from $337.00 to $280.00 and set a "buy" rating for the company in a research report on Monday, February 9th. Finally, JPMorgan Chase & Co. upped their price target on VeriSign from $270.00 to $271.00 and gave the company a "neutral" rating in a research report on Tuesday, January 6th. Two investment analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. Based on data from MarketBeat, VeriSign currently has an average rating of "Hold" and a consensus price target of $292.00.
View Our Latest Research Report on VeriSign
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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