Thomas Indelicarto Sells 332 Shares of VeriSign (NASDAQ:VRSN) Stock

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas Indelicarto sold 332 shares of the stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $240.83, for a total value of $79,955.56. Following the completion of the transaction, the executive vice president directly owned 31,277 shares of the company’s stock, valued at $7,532,439.91. This trade represents a 1.05% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

VeriSign Stock Performance

Shares of VRSN stock opened at $247.13 on Friday. VeriSign, Inc. has a 1 year low of $205.37 and a 1 year high of $310.60. The firm has a market capitalization of $22.91 billion, a PE ratio of 28.80 and a beta of 0.77. The stock has a fifty day moving average of $246.45 and a two-hundred day moving average of $265.13.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, October 23rd. The information services provider reported $2.27 earnings per share 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 business had revenue of $419.10 million during the quarter, compared to the consensus estimate of $416.71 million. During the same quarter in the prior year, the company posted $2.07 earnings per share. The company’s quarterly revenue was up 7.3% compared to the same quarter last year.

VeriSign Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Shareholders of record on Tuesday, November 18th were given a $0.77 dividend. This represents a $3.08 dividend on an annualized basis and a yield of 1.2%. The ex-dividend date was Tuesday, November 18th. VeriSign’s dividend payout ratio is 35.90%.

Wall Street Analysts Forecast Growth

VRSN has been the topic of a number of research reports. Weiss Ratings reissued a “hold (c+)” rating on shares of VeriSign in a research note on Monday, December 29th. 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. Robert W. Baird set a $325.00 price target on shares of VeriSign in a report on Friday, October 24th. Zacks Research cut shares of VeriSign from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 30th. Finally, Citigroup reiterated a “buy” rating on shares of VeriSign in a report on Friday, October 24th. Two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $282.00.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Livelsberger Financial Advisory purchased a new stake in shares of VeriSign in the 2nd quarter valued at approximately $27,000. Bruce G. Allen Investments LLC lifted its holdings 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 purchasing an additional 35 shares in the last quarter. Salomon & Ludwin LLC boosted its position in shares of VeriSign by 112.5% in the third quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock worth $28,000 after buying an additional 54 shares during the period. Root Financial Partners LLC purchased a new position in shares of VeriSign during the third quarter valued at $29,000. Finally, Ameritas Advisory Services LLC acquired a new position in VeriSign during the second quarter valued at $34,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

VeriSign Company Profile

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.