VeriSign, Inc. (NASDAQ:VRSN) Receives $282.00 Consensus Price Target from Brokerages

Shares of VeriSign, Inc. (NASDAQ:VRSN) have been given an average recommendation of “Hold” by the five ratings firms that are currently covering the company, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, two have issued a hold recommendation and two have issued a buy recommendation on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $282.00.

A number of equities research analysts have recently weighed in on VRSN shares. Citigroup reaffirmed a “buy” rating on shares of VeriSign in a report on Friday, October 24th. JPMorgan Chase & Co. lifted their target price on VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. Zacks Research cut VeriSign from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of VeriSign in a report on Monday, December 29th. Finally, Robert W. Baird set a $325.00 price objective on shares of VeriSign in a report on Friday, October 24th.

Insider Buying and Selling

In related news, CEO D James Bidzos sold 2,000 shares of the firm’s stock in a transaction dated Wednesday, January 14th. The stock was sold at an average price of $248.28, for a total transaction of $496,560.00. Following the completion of the transaction, the chief executive officer owned 414,099 shares of the company’s stock, valued at $102,812,499.72. This trade represents a 0.48% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Thomas C. Indelicarto sold 498 shares of VeriSign stock in a transaction dated Tuesday, January 13th. The stock was sold at an average price of $248.71, for a total value of $123,857.58. Following the transaction, the executive vice president directly owned 30,613 shares in the company, valued at approximately $7,613,759.23. The trade was a 1.60% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 47,833 shares of company stock valued at $11,901,878 over the last 90 days. 0.84% of the stock is currently owned by insiders.

Institutional Trading of VeriSign

Hedge funds and other institutional investors have recently made changes to their positions in the business. Livelsberger Financial Advisory acquired a new position in VeriSign in the second quarter worth approximately $27,000. Bruce G. Allen Investments LLC boosted its stake in shares of VeriSign by 56.5% during the 2nd 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 boosted its stake in shares of VeriSign by 112.5% during the 3rd 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 shares of VeriSign in the 3rd quarter worth $29,000. Finally, Ameritas Advisory Services LLC acquired a new stake in shares of VeriSign during the second quarter worth $34,000. 92.90% of the stock is currently owned by institutional investors.

VeriSign Stock Performance

VeriSign stock opened at $249.22 on Friday. VeriSign has a one year low of $205.37 and a one year high of $310.60. The company has a 50-day simple moving average of $247.13 and a 200-day simple moving average of $263.89. The firm has a market capitalization of $23.10 billion, a P/E ratio of 29.05 and a beta of 0.77.

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

VeriSign Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Investors of record on Tuesday, November 18th were issued a dividend of $0.77 per share. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $3.08 annualized dividend and a yield of 1.2%. VeriSign’s payout ratio is presently 35.90%.

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.