Thomas Indelicarto Sells 250 Shares of VeriSign (NASDAQ:VRSN) Stock

VeriSign, Inc. (NASDAQ:VRSN) EVP Thomas Indelicarto sold 250 shares of the business’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $255.83, for a total value of $63,957.50. Following the transaction, the executive vice president owned 36,301 shares of the company’s stock, valued at approximately $9,286,884.83. The trade was a 0.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

VeriSign Price Performance

VRSN stock opened at $256.43 on Friday. The business’s fifty day simple moving average is $279.70 and its two-hundred day simple moving average is $256.58. VeriSign, Inc. has a twelve month low of $208.86 and a twelve month high of $312.48. The firm has a market cap of $23.34 billion, a price-to-earnings ratio of 28.33 and a beta of 0.71.

VeriSign (NASDAQ:VRSN) last released its earnings results on Thursday, April 23rd. The information services provider reported $2.34 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.04. The business had revenue of $428.90 million during the quarter, compared to the consensus estimate of $424.50 million. VeriSign had a negative return on equity of 39.98% and a net margin of 49.95%.The business’s revenue for the quarter was up 6.6% compared to the same quarter last year. During the same period last year, the company earned $2.10 earnings per share. Research analysts expect that VeriSign, Inc. will post 9.47 EPS for the current year.

VeriSign Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 27th. Stockholders of record on Tuesday, May 19th were paid a dividend of $0.81 per share. This represents a $3.24 annualized dividend and a dividend yield of 1.3%. The ex-dividend date of this dividend was Tuesday, May 19th. VeriSign’s payout ratio is currently 35.80%.

Institutional Investors Weigh In On VeriSign

Large investors have recently modified their holdings of the business. Groupe la Francaise increased its holdings in shares of VeriSign by 2.8% in the 1st quarter. Groupe la Francaise now owns 1,413 shares of the information services provider’s stock valued at $351,000 after acquiring an additional 39 shares during the period. Advisors Asset Management Inc. lifted its stake in shares of VeriSign by 25.3% during the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock worth $50,000 after purchasing an additional 40 shares during the last quarter. Tranquilli Financial Advisor LLC boosted its position in VeriSign by 5.1% during the fourth quarter. Tranquilli Financial Advisor LLC now owns 872 shares of the information services provider’s stock valued at $212,000 after purchasing an additional 42 shares in the last quarter. Waverly Advisors LLC boosted its position in VeriSign by 2.1% during the first quarter. Waverly Advisors LLC now owns 2,069 shares of the information services provider’s stock valued at $514,000 after purchasing an additional 42 shares in the last quarter. Finally, One Wealth Advisors LLC grew its stake in VeriSign by 3.8% in the fourth quarter. One Wealth Advisors LLC now owns 1,215 shares of the information services provider’s stock valued at $295,000 after purchasing an additional 44 shares during the last quarter. Institutional investors own 92.90% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on VRSN. JPMorgan Chase & Co. increased their price objective on VeriSign from $285.00 to $308.00 and gave the stock a “neutral” rating in a research note on Thursday, June 18th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of VeriSign in a research report on Wednesday, June 24th. Citigroup upped their target price on VeriSign from $295.00 to $320.00 and gave the stock a “buy” rating in a report on Friday, April 24th. Finally, Robert W. Baird increased their price target on VeriSign from $305.00 to $355.00 and gave the stock an “outperform” rating in a research report on Friday, April 24th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, VeriSign has a consensus rating of “Moderate Buy” and an average price target of $327.67.

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.