VeriSign, Inc. (NASDAQ:VRSN) Short Interest Update

VeriSign, Inc. (NASDAQ:VRSN) was the target of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 1,782,420 shares, a decrease of 22.4% from the January 29th total of 2,298,249 shares. Based on an average daily volume of 1,139,685 shares, the days-to-cover ratio is presently 1.6 days. Currently, 2.0% of the shares of the company are short sold. Currently, 2.0% of the shares of the company are short sold. Based on an average daily volume of 1,139,685 shares, the days-to-cover ratio is presently 1.6 days.

VeriSign Price Performance

Shares of VRSN opened at $226.33 on Monday. VeriSign has a 1-year low of $208.86 and a 1-year high of $310.60. The stock has a market cap of $20.75 billion, a price-to-earnings ratio of 25.88 and a beta of 0.75. The firm has a 50 day simple moving average of $237.69 and a 200-day simple moving average of $253.25.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, February 5th. The information services provider reported $2.23 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates 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 net margin of 49.84% and a negative return on equity of 40.40%. VeriSign’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the previous year, the company posted $2.00 EPS.

VeriSign Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 27th. Shareholders of record on Thursday, February 19th were issued a $0.81 dividend. This is a positive change from VeriSign’s previous quarterly dividend of $0.77. The ex-dividend date was Thursday, February 19th. This represents a $3.24 dividend on an annualized basis and a yield of 1.4%. VeriSign’s payout ratio is currently 36.78%.

Insider Buying and Selling at VeriSign

In related news, CEO D James Bidzos sold 2,000 shares of VeriSign stock in a transaction on Wednesday, January 14th. The shares were sold at an average price of $248.28, for a total value of $496,560.00. Following the transaction, the chief executive officer directly owned 414,099 shares in the company, valued at $102,812,499.72. This trade represents a 0.48% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Thomas C. Indelicarto sold 166 shares of the business’s 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 completion of the transaction, the executive vice president directly owned 42,023 shares in the company, valued at $9,213,122.52. This represents a 0.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 23,662 shares of company stock valued at $5,799,697. Corporate insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On VeriSign

Several hedge funds have recently made changes to their positions in the business. Salomon & Ludwin LLC grew its stake in VeriSign by 112.5% during 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 acquired a new stake in shares of VeriSign during the third quarter valued at about $29,000. DV Equities LLC purchased a new stake in VeriSign during the 4th quarter worth approximately $28,000. Sunbelt Securities Inc. increased its stake in shares of VeriSign by 429.2% in the third quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider’s stock worth $36,000 after buying an additional 103 shares during the last quarter. Finally, North Capital Inc. increased its position in shares of VeriSign by 239.0% in the 3rd quarter. North Capital Inc. now owns 139 shares of the information services provider’s stock worth $39,000 after purchasing an additional 98 shares during the last quarter. Institutional investors and hedge funds own 92.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on VRSN. Citigroup reduced their price objective on shares of VeriSign from $337.00 to $280.00 and set a “buy” rating for the company in a research note on Monday, February 9th. JPMorgan Chase & Co. increased their target price on shares of VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Weiss Ratings reiterated a “hold (c+)” rating on shares of VeriSign in a research report on Monday, December 29th. Finally, Zacks Research raised VeriSign from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Two equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $292.00.

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.