Insider Selling: VeriSign (NASDAQ:VRSN) EVP Sells $79,955.56 in Stock

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

VeriSign Stock Up 0.7%

Shares of NASDAQ VRSN opened at $248.94 on Friday. VeriSign, Inc. has a twelve month low of $205.37 and a twelve month high of $310.60. The stock has a market cap of $23.08 billion, a price-to-earnings ratio of 29.01 and a beta of 0.77. The company’s fifty day moving average is $246.63 and its 200-day moving average is $264.90.

VeriSign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, October 23rd. The information services provider reported $2.27 EPS for the quarter, topping the consensus estimate of $2.25 by $0.02. The business had revenue of $419.10 million for the quarter, compared to the consensus estimate of $416.71 million. VeriSign had a negative return on equity of 40.66% and a net margin of 49.86%.The firm’s revenue was up 7.3% compared to the same quarter last year. During the same quarter last year, the business posted $2.07 EPS.

VeriSign Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 18th were given a dividend of $0.77 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.2%. VeriSign’s dividend payout ratio (DPR) is currently 35.90%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on VRSN. Weiss Ratings reissued a “hold (c+)” rating on shares of VeriSign in a research note on Monday, December 29th. Zacks Research downgraded shares of VeriSign from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 30th. JPMorgan Chase & Co. raised their price objective on shares of VeriSign from $270.00 to $271.00 and gave the stock a “neutral” rating in a report on Tuesday. Citigroup reaffirmed a “buy” rating on shares of VeriSign in a research note on Friday, October 24th. Finally, Robert W. Baird set a $325.00 target price on VeriSign in a report on Friday, October 24th. Two research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, VeriSign currently has a consensus rating of “Hold” and an average target price of $282.00.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in VRSN. Livelsberger Financial Advisory acquired a new position in shares of VeriSign during the 2nd quarter worth about $27,000. Bruce G. Allen Investments LLC raised its holdings in VeriSign by 56.5% during the second quarter. Bruce G. Allen Investments LLC now owns 97 shares of the information services provider’s stock worth $28,000 after acquiring an additional 35 shares in the last quarter. Salomon & Ludwin LLC raised its holdings 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 acquiring an additional 54 shares in the last quarter. Root Financial Partners LLC acquired a new position in VeriSign during the third quarter valued at approximately $29,000. Finally, Ameritas Advisory Services LLC bought a new position in VeriSign in the second quarter valued at approximately $34,000. Institutional investors own 92.90% of the company’s stock.

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.