VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) EVP Thomas Indelicarto sold 500 shares of the business's stock in a transaction dated Tuesday, June 9th. The shares were sold at an average price of $283.54, for a total value of $141,770.00. Following the sale, the executive vice president directly owned 36,551 shares of the company's stock, valued at approximately $10,363,670.54. This trade represents a 1.35% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
VeriSign Trading Down 3.0%
VRSN stock opened at $279.57 on Friday. The stock has a 50-day moving average price of $282.73 and a two-hundred day moving average price of $255.51. VeriSign, Inc. has a 12-month low of $208.86 and a 12-month high of $312.48. The company has a market cap of $25.44 billion, a PE ratio of 30.89 and a beta of 0.69.
VeriSign (NASDAQ:VRSN - Get Free Report) last posted its quarterly earnings results on Thursday, April 23rd. The information services provider reported $2.34 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.30 by $0.04. VeriSign had a negative return on equity of 39.98% and a net margin of 49.95%.The firm had revenue of $428.90 million during the quarter, compared to the consensus estimate of $424.50 million. During the same quarter in the previous year, the business earned $2.10 earnings per share. The firm's quarterly revenue was up 6.6% compared to the same quarter last year. Equities analysts forecast that VeriSign, Inc. will post 9.49 EPS for the current fiscal year.
VeriSign Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Shareholders of record on Tuesday, May 19th were given a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date of this dividend was Tuesday, May 19th. VeriSign's payout ratio is 35.80%.
Institutional Investors Weigh In On VeriSign
Several institutional investors and hedge funds have recently modified their holdings of the stock. Parallel Advisors LLC boosted its position in shares of VeriSign by 9.8% in the first quarter. Parallel Advisors LLC now owns 3,418 shares of the information services provider's stock worth $849,000 after buying an additional 304 shares during the period. Glenmede Trust Co. NA boosted its position in shares of VeriSign by 2.3% in the first quarter. Glenmede Trust Co. NA now owns 4,537 shares of the information services provider's stock worth $1,127,000 after buying an additional 101 shares during the period. Groupama Asset Managment purchased a new stake in shares of VeriSign in the first quarter worth about $814,000. Groupe la Francaise boosted its position in shares of VeriSign by 2.8% in the first quarter. Groupe la Francaise now owns 1,413 shares of the information services provider's stock worth $351,000 after buying an additional 39 shares during the period. Finally, Western Wealth Management LLC purchased a new stake in shares of VeriSign in the first quarter worth about $508,000. Hedge funds and other institutional investors own 92.90% of the company's stock.
Wall Street Analyst Weigh In
Several equities research analysts have recently weighed in on the company. Citigroup upped their target price on VeriSign from $295.00 to $320.00 and gave the stock a "buy" rating in a research report on Friday, April 24th. Robert W. Baird upped their target price on VeriSign from $305.00 to $355.00 and gave the stock an "outperform" rating in a research report on Friday, April 24th. Weiss Ratings raised VeriSign from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, March 27th. Finally, JPMorgan Chase & Co. upped their target price on VeriSign from $273.00 to $278.00 and gave the stock a "neutral" rating in a research report on Friday, April 24th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company's stock. Based on data from MarketBeat, VeriSign presently has a consensus rating of "Moderate Buy" and an average price target of $317.67.
View Our Latest Report on VRSN
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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