VeriSign (NASDAQ:VRSN) EVP Thomas Indelicarto Sells 500 Shares

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas Indelicarto sold 500 shares of the business’s stock in a transaction dated Monday, August 10th. The shares were sold at an average price of $292.35, for a total value of $146,175.00. Following the completion of the sale, the executive vice president owned 34,551 shares in the company, valued at $10,100,984.85. This represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

VeriSign Stock Down 1.9%

Shares of NASDAQ:VRSN opened at $287.63 on Wednesday. The firm has a market capitalization of $25.97 billion, a PE ratio of 31.20 and a beta of 0.70. VeriSign, Inc. has a twelve month low of $208.86 and a twelve month high of $312.48. The company has a 50-day moving average price of $273.90 and a two-hundred day moving average price of $262.94.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, July 23rd. The information services provider reported $2.38 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.36 by $0.02. The company had revenue of $434.60 million for the quarter, compared to analyst estimates of $433.19 million. VeriSign had a net margin of 49.76% and a negative return on equity of 39.20%. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.21 earnings per share. Analysts anticipate that VeriSign, Inc. will post 9.56 earnings per share for the current fiscal year.

VeriSign Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, August 19th will be given a $0.81 dividend. The ex-dividend date is Wednesday, August 19th. This represents a $3.24 annualized dividend and a dividend yield of 1.1%. VeriSign’s payout ratio is 35.14%.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wedbush raised their target price on VeriSign from $318.00 to $324.00 and gave the stock an “outperform” rating in a research note on Friday, July 24th. JPMorgan Chase & Co. increased their price target on shares of VeriSign from $308.00 to $316.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of VeriSign in a research note on Wednesday, June 24th. Robert W. Baird raised their price target on shares of VeriSign from $305.00 to $355.00 and gave the company an “outperform” rating in a report on Friday, April 24th. Finally, Zacks Research upgraded shares of VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. One equities research 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 an average rating of “Buy” and a consensus price target of $328.75.

Institutional Trading of VeriSign

A number of large investors have recently modified their holdings of VRSN. Danske Bank A S boosted its stake in VeriSign by 23.5% in the fourth quarter. Danske Bank A S now owns 64,246 shares of the information services provider’s stock worth $15,609,000 after buying an additional 12,220 shares in the last quarter. KLP Kapitalforvaltning AS lifted its position in VeriSign by 17.7% in the fourth quarter. KLP Kapitalforvaltning AS now owns 146,100 shares of the information services provider’s stock valued at $35,495,000 after purchasing an additional 22,020 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of VeriSign by 2.2% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 174,140 shares of the information services provider’s stock valued at $41,886,000 after purchasing an additional 3,691 shares during the period. Asset Management One Co. Ltd. increased its stake in shares of VeriSign by 29.3% in the fourth quarter. Asset Management One Co. Ltd. now owns 49,688 shares of the information services provider’s stock worth $12,179,000 after buying an additional 11,249 shares during the period. Finally, Kepler Cheuvreux Suisse SA bought a new stake in VeriSign during the 4th quarter valued at $13,636,000. Institutional investors own 92.90% of the company’s stock.

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.