VeriSign (NASDAQ:VRSN) EVP Thomas Indelicarto Sells 250 Shares

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas Indelicarto sold 250 shares of the company’s stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $255.83, for a total value of $63,957.50. Following the completion of the transaction, the executive vice president directly owned 36,301 shares in the company, valued at approximately $9,286,884.83. The trade was a 0.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

VeriSign Trading Up 0.2%

VeriSign stock opened at $256.43 on Friday. VeriSign, Inc. has a 52 week low of $208.86 and a 52 week high of $312.48. The stock has a market cap of $23.34 billion, a P/E ratio of 28.33 and a beta of 0.71. The stock has a 50 day moving average of $279.97 and a 200-day moving average of $256.59.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, April 23rd. The information services provider reported $2.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.30 by $0.04. The business had revenue of $428.90 million during the quarter, compared to analyst estimates of $424.50 million. VeriSign had a net margin of 49.95% and a negative return on equity of 39.98%. The business’s revenue was up 6.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.10 earnings per share. As a group, equities analysts predict that VeriSign, Inc. will post 9.47 earnings per share for the current fiscal year.

VeriSign Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Tuesday, May 19th were given a $0.81 dividend. The ex-dividend date of this dividend was Tuesday, May 19th. This represents a $3.24 annualized dividend and a dividend yield of 1.3%. VeriSign’s payout ratio is presently 35.80%.

Wall Street Analysts Forecast Growth

VRSN has been the topic of several research analyst reports. Citigroup increased their price target on shares of VeriSign from $295.00 to $320.00 and gave the stock a “buy” rating in a research report on Friday, April 24th. Weiss Ratings reissued a “buy (b-)” rating on shares of VeriSign in a report on Wednesday, June 24th. Robert W. Baird upped their price objective on VeriSign from $305.00 to $355.00 and gave the company an “outperform” rating in a research note on Friday, April 24th. Finally, JPMorgan Chase & Co. increased their target price on VeriSign from $285.00 to $308.00 and gave the stock a “neutral” rating in a report on Thursday, June 18th. Three analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat.com, VeriSign currently has an average rating of “Moderate Buy” and a consensus target price of $327.67.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Advisors Asset Management Inc. raised its stake in VeriSign by 25.3% during the first quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock worth $50,000 after acquiring an additional 40 shares during the period. Integrated Wealth Concepts LLC grew its holdings in shares of VeriSign by 12.3% during the first quarter. Integrated Wealth Concepts LLC now owns 1,232 shares of the information services provider’s stock valued at $313,000 after purchasing an additional 135 shares during the last quarter. NewEdge Advisors LLC grew its holdings in shares of VeriSign by 104.5% during the first quarter. NewEdge Advisors LLC now owns 4,125 shares of the information services provider’s stock valued at $1,047,000 after purchasing an additional 2,108 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of VeriSign by 122.1% during the 1st quarter. Jones Financial Companies Lllp now owns 3,358 shares of the information services provider’s stock worth $852,000 after purchasing an additional 1,846 shares during the period. Finally, Empowered Funds LLC raised its position in shares of VeriSign by 2.0% during the 1st quarter. Empowered Funds LLC now owns 9,346 shares of the information services provider’s stock worth $2,373,000 after purchasing an additional 186 shares during the period. 92.90% of the stock is currently owned by 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.