VeriSign (NASDAQ:VRSN) CEO D James Bidzos Sells 3,300 Shares of Stock

VeriSign, Inc. (NASDAQ:VRSN) CEO D James Bidzos sold 3,300 shares of the company’s stock in a transaction that occurred on Tuesday, August 25th. The shares were sold at an average price of $291.16, for a total value of $960,828.00. Following the completion of the sale, the chief executive officer owned 398,089 shares in the company, valued at approximately $115,907,593.24. This represents a 0.82% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D James Bidzos also recently made the following trade(s):

• On Tuesday, August 18th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $277.85, for a total value of $916,905.00.
• On Tuesday, August 4th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $296.54, for a total value of $978,582.00.
• On Tuesday, July 28th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $281.20, for a total value of $927,960.00.
• On Tuesday, July 21st, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $270.44, for a total value of $892,452.00.
• On Tuesday, July 7th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $266.09, for a total value of $878,097.00.
• On Tuesday, June 30th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $250.94, for a total value of $828,102.00.
• On Tuesday, June 23rd, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $248.53, for a total transaction of $820,149.00.
• On Tuesday, June 16th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $274.22, for a total transaction of $904,926.00.
• On Tuesday, June 9th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $284.29, for a total transaction of $938,157.00.
• On Tuesday, June 2nd, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $297.47, for a total transaction of $981,651.00.

VeriSign Stock Down 0.3%

NASDAQ:VRSN opened at $292.99 on Thursday. The firm has a market cap of $26.46 billion, a PE ratio of 31.78 and a beta of 0.70. VeriSign, Inc. has a 12 month low of $208.86 and a 12 month high of $312.48. The company’s 50-day moving average price is $273.92 and its two-hundred day moving average price is $265.69.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, July 23rd. The information services provider reported $2.38 earnings per share for the quarter, topping the consensus estimate of $2.36 by $0.02. VeriSign had a net margin of 49.76% and a negative return on equity of 39.20%. The company had revenue of $434.60 million during the quarter, compared to analyst estimates of $433.19 million. During the same quarter last year, the business posted $2.21 earnings per share. The company’s revenue was up 6.0% on a year-over-year basis. On average, research analysts expect that VeriSign, Inc. will post 9.56 EPS for the current fiscal year.

VeriSign Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Investors of record on Wednesday, August 19th will be issued a dividend of $0.81 per share. This represents a $3.24 dividend on an annualized basis and a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, August 19th. VeriSign’s dividend payout ratio (DPR) is currently 35.14%.

Analyst Upgrades and Downgrades

A number of research firms have commented on VRSN. Weiss Ratings reissued a “buy (b-)” rating on shares of VeriSign in a research note on Wednesday, June 24th. Wedbush raised their target price on VeriSign from $318.00 to $324.00 and gave the company an “outperform” rating in a research note on Friday, July 24th. Zacks Research raised VeriSign from a “hold” rating to a “strong-buy” rating in a report on Monday, July 27th. Finally, JPMorgan Chase & Co. upped their price target on shares of VeriSign from $308.00 to $316.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus price target of $328.75.

Institutional Trading of VeriSign

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Groupe la Francaise lifted its holdings in shares of VeriSign by 2.8% in the 1st quarter. Groupe la Francaise now owns 1,413 shares of the information services provider’s stock worth $351,000 after acquiring an additional 39 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of VeriSign by 25.3% in the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock valued at $50,000 after purchasing an additional 40 shares in the last quarter. Waverly Advisors LLC grew its holdings in shares of VeriSign by 2.1% during the 1st quarter. Waverly Advisors LLC now owns 2,069 shares of the information services provider’s stock valued at $514,000 after purchasing an additional 42 shares during the last quarter. Strive Financial Group LLC grew its holdings in shares of VeriSign by 4.3% during the 2nd quarter. Strive Financial Group LLC now owns 1,009 shares of the information services provider’s stock valued at $254,000 after purchasing an additional 42 shares during the last quarter. Finally, One Wealth Advisors LLC raised its position in VeriSign by 3.8% in the 4th quarter. One Wealth Advisors LLC now owns 1,215 shares of the information services provider’s stock worth $295,000 after purchasing an additional 44 shares during the period. 92.90% of the stock is owned by 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.