VeriSign (NASDAQ:VRSN) EVP Thomas Indelicarto Sells 498 Shares of Stock

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas Indelicarto sold 498 shares of the stock in a transaction that occurred on Tuesday, March 3rd. The stock was sold at an average price of $231.78, for a total value of $115,426.44. Following the sale, the executive vice president owned 40,028 shares in the company, valued at approximately $9,277,689.84. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

VeriSign Stock Performance

Shares of NASDAQ VRSN traded down $0.35 during trading on Thursday, reaching $238.48. The company had a trading volume of 243,591 shares, compared to its average volume of 784,721. VeriSign, Inc. has a 52 week low of $208.86 and a 52 week high of $310.60. The business’s 50 day moving average price is $236.99 and its 200-day moving average price is $252.64. The stock has a market cap of $21.87 billion, a PE ratio of 27.07 and a beta of 0.76.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, February 5th. The information services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.06). VeriSign had a net margin of 49.84% and a negative return on equity of 40.40%. The firm had revenue of $425.30 million during the quarter, compared to the consensus estimate of $424.04 million. During the same quarter in the prior year, the business earned $2.00 EPS. VeriSign’s revenue was up 7.6% on a year-over-year basis.

VeriSign Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Thursday, February 19th were given a dividend of $0.81 per share. This is an increase from VeriSign’s previous quarterly dividend of $0.77. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend was Thursday, February 19th. VeriSign’s payout ratio is 36.78%.

Institutional Investors Weigh In On VeriSign

Large investors have recently added to or reduced their stakes in the business. Salomon & Ludwin LLC lifted 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 buying an additional 54 shares during the last quarter. DV Equities LLC bought a new stake in shares of VeriSign during the 4th quarter worth approximately $28,000. Root Financial Partners LLC acquired a new stake in VeriSign in the third quarter valued at about $29,000. Sunbelt Securities Inc. grew its stake in shares of VeriSign by 429.2% during 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 holdings in 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 in the last quarter. Institutional investors own 92.90% of the company’s stock.

Wall Street Analysts Forecast Growth

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