Thomas Indelicarto Sells 166 Shares of VeriSign (NASDAQ:VRSN) Stock

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas Indelicarto sold 166 shares of the firm’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $219.24, for a total transaction of $36,393.84. Following the completion of the transaction, the executive vice president directly owned 42,023 shares of the company’s stock, valued at approximately $9,213,122.52. This represents a 0.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

VeriSign Price Performance

NASDAQ VRSN opened at $218.15 on Friday. The company has a market cap of $20.00 billion, a price-to-earnings ratio of 24.76 and a beta of 0.75. The stock’s fifty day moving average price is $243.47 and its 200 day moving average price is $257.65. VeriSign, Inc. has a 1 year low of $208.86 and a 1 year high of $310.60.

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

VeriSign Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 19th will be issued a $0.81 dividend. This is a boost from VeriSign’s previous quarterly dividend of $0.77. The ex-dividend date is Thursday, February 19th. This represents a $3.24 annualized dividend and a yield of 1.5%. VeriSign’s dividend payout ratio is currently 34.96%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on VRSN shares. Zacks Research upgraded shares of VeriSign from a “strong sell” rating to a “hold” rating in a research note on Monday. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of VeriSign in a research report on Monday, December 29th. Robert W. Baird set a $325.00 price objective on VeriSign in a report on Friday, October 24th. JPMorgan Chase & Co. raised their target price on VeriSign from $270.00 to $271.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. Finally, Citigroup reduced their price target on VeriSign from $337.00 to $280.00 and set a “buy” rating for the company in a research report on Monday. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $292.00.

Institutional Investors Weigh In On VeriSign

Institutional investors have recently modified their holdings of the business. Salomon & Ludwin LLC raised its holdings in VeriSign by 112.5% in the 3rd quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock worth $28,000 after purchasing an additional 54 shares during the period. Root Financial Partners LLC acquired a new position in shares of VeriSign during the 3rd quarter worth approximately $29,000. Ameritas Advisory Services LLC purchased a new position in shares of VeriSign during the 2nd quarter valued at approximately $34,000. Bayforest Capital Ltd purchased a new position in shares of VeriSign during the 2nd quarter valued at approximately $34,000. Finally, Sunbelt Securities Inc. grew its stake in VeriSign by 429.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider’s stock valued at $36,000 after acquiring an additional 103 shares during the period. 92.90% of the stock is currently owned by institutional investors and hedge funds.

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.