VeriSign, Inc. (NASDAQ:VRSN) Short Interest Down 22.4% in February

VeriSign, Inc. (NASDAQ:VRSN) saw a large decline in short interest in February. As of February 13th, there was short interest totaling 1,782,420 shares, a decline of 22.4% from the January 29th total of 2,298,249 shares. Based on an average daily trading volume, of 1,139,685 shares, the days-to-cover ratio is currently 1.6 days. Currently, 2.0% of the shares of the stock are short sold. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 1,139,685 shares, the days-to-cover ratio is currently 1.6 days.

Insider Buying and Selling

In other news, EVP Thomas C. Indelicarto sold 166 shares of the stock in a transaction that occurred on Tuesday, February 10th. The shares were sold at an average price of $219.24, for a total value of $36,393.84. Following the completion of the transaction, the executive vice president directly owned 42,023 shares in the company, valued at $9,213,122.52. This trade represents a 0.39% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO D James Bidzos sold 2,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 14th. The stock was sold at an average price of $248.28, for a total value of $496,560.00. Following the sale, the chief executive officer directly owned 414,099 shares in the company, valued at approximately $102,812,499.72. The trade was a 0.48% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 23,161 shares of company stock valued at $5,673,134. Company insiders own 0.84% of the company’s stock.

Institutional Trading of VeriSign

Several large investors have recently added to or reduced their stakes in VRSN. Caitong International Asset Management Co. Ltd grew its holdings in shares of VeriSign by 120.8% during the fourth quarter. Caitong International Asset Management Co. Ltd now owns 234 shares of the information services provider’s stock valued at $57,000 after buying an additional 128 shares in the last quarter. Wick Capital Partners LLC purchased a new stake in VeriSign in the 4th quarter worth about $408,000. Titan Investment Management LLC acquired a new stake in VeriSign during the 4th quarter worth about $1,455,000. Vancity Investment Management Ltd purchased a new position in VeriSign during the 4th quarter valued at about $241,000. Finally, Compound Planning Inc. grew its stake in VeriSign by 45.0% during the 4th quarter. Compound Planning Inc. now owns 1,476 shares of the information services provider’s stock valued at $359,000 after acquiring an additional 458 shares in the last quarter. 92.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

VRSN has been the topic of a number of research analyst reports. Citigroup lowered their target price on VeriSign from $337.00 to $280.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Weiss Ratings restated a “hold (c+)” rating on shares of VeriSign in a research report on Monday, December 29th. Zacks Research raised shares of VeriSign from a “strong sell” rating to a “hold” rating in a research note on Monday, February 9th. Finally, JPMorgan Chase & Co. increased their target price on shares of VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a research note on Tuesday, January 6th. Two investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $292.00.

VeriSign Trading Up 3.2%

Shares of VRSN opened at $235.42 on Wednesday. The business’s 50-day moving average price is $237.13 and its 200 day moving average price is $252.73. The stock has a market capitalization of $21.59 billion, a P/E ratio of 26.72 and a beta of 0.76. VeriSign has a 1-year low of $208.86 and a 1-year high of $310.60.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, February 5th. The information services provider reported $2.23 EPS for the quarter, missing analysts’ consensus estimates 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%. VeriSign’s quarterly revenue was up 7.6% compared to the same quarter last year. During the same period in the prior year, the company posted $2.00 earnings per share.

VeriSign Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 27th. Investors of record on Thursday, February 19th were paid a $0.81 dividend. The ex-dividend date of this dividend was Thursday, February 19th. This represents a $3.24 dividend on an annualized basis and a yield of 1.4%. This is a positive change from VeriSign’s previous quarterly dividend of $0.77. VeriSign’s dividend payout ratio (DPR) is 36.78%.

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.