VeriSign (NASDAQ:VRSN) EVP Sells $36,393.84 in Stock

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas Indelicarto sold 166 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $219.24, for a total transaction of $36,393.84. Following the transaction, the executive vice president directly owned 42,023 shares in the company, valued at approximately $9,213,122.52. This represents a 0.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

VeriSign Price Performance

NASDAQ VRSN traded down $4.40 during trading on Wednesday, hitting $215.68. 695,758 shares of the company’s stock traded hands, compared to its average volume of 787,263. The stock has a fifty day moving average of $244.08 and a two-hundred day moving average of $257.93. VeriSign, Inc. has a 12-month low of $208.86 and a 12-month high of $310.60. The firm has a market cap of $19.78 billion, a P/E ratio of 24.48 and a beta of 0.75.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.06). The company had revenue of $425.30 million during the quarter, compared to analysts’ expectations of $424.04 million. VeriSign had a negative return on equity of 40.40% and a net margin of 49.84%.The firm’s quarterly revenue was up 7.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.00 EPS.

VeriSign Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Shareholders of record on Thursday, February 19th will be given a $0.81 dividend. The ex-dividend date is Thursday, February 19th. This is an increase from VeriSign’s previous quarterly dividend of $0.77. This represents a $3.24 annualized dividend and a yield of 1.5%. VeriSign’s dividend payout ratio is presently 36.78%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the stock. Zacks Research raised shares of VeriSign from a “strong sell” rating to a “hold” rating in a research note on Monday. Robert W. Baird set a $325.00 price target on shares of VeriSign in a report on Friday, October 24th. Citigroup decreased their price objective on shares of VeriSign from $337.00 to $280.00 and set a “buy” rating on the stock in a research report on Monday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a research note on Monday, December 29th. Finally, JPMorgan Chase & Co. increased their target price on shares of VeriSign from $270.00 to $271.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $292.00.

Institutional Investors Weigh In On VeriSign

Institutional investors and hedge funds have recently modified their holdings of the stock. Strategy Asset Managers LLC purchased a new stake in VeriSign in the third quarter worth $654,000. Allianz Asset Management GmbH boosted its holdings in shares of VeriSign by 11.5% during the 3rd quarter. Allianz Asset Management GmbH now owns 357,611 shares of the information services provider’s stock valued at $99,977,000 after buying an additional 36,829 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of VeriSign by 9.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 27,719 shares of the information services provider’s stock valued at $7,749,000 after buying an additional 2,435 shares in the last quarter. Abacus FCF Advisors LLC grew its position in shares of VeriSign by 25.2% in the 3rd quarter. Abacus FCF Advisors LLC now owns 68,706 shares of the information services provider’s stock worth $19,208,000 after buying an additional 13,837 shares during the period. Finally, Compass Wealth Management LLC bought a new position in shares of VeriSign in the 3rd quarter worth about $17,800,000. 92.90% of the stock is owned by hedge funds and other institutional investors.

About VeriSign

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.