D James Bidzos Sells 3,300 Shares of VeriSign (NASDAQ:VRSN) Stock

VeriSign, Inc. (NASDAQ:VRSNGet Free Report) CEO D James Bidzos sold 3,300 shares of the company’s stock in a transaction dated Tuesday, August 18th. The shares were sold at an average price of $277.85, for a total transaction of $916,905.00. Following the transaction, the chief executive officer owned 401,389 shares in the company, valued at $111,525,933.65. This represents a 0.82% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

D James Bidzos also recently made the following trade(s):

  • On Tuesday, August 4th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $296.54, for a total transaction of $978,582.00.
  • On Tuesday, July 28th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $281.20, for a total transaction of $927,960.00.
  • On Tuesday, July 21st, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $270.44, for a total transaction of $892,452.00.
  • On Tuesday, July 7th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $266.09, for a total transaction of $878,097.00.
  • On Tuesday, June 30th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $250.94, for a total transaction of $828,102.00.
  • On Tuesday, June 23rd, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $248.53, for a total transaction of $820,149.00.
  • On Tuesday, June 16th, D James Bidzos sold 3,300 shares of VeriSign stock. The shares were sold at an average price of $274.22, for a total value of $904,926.00.
  • On Tuesday, June 9th, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $284.29, for a total value of $938,157.00.
  • On Tuesday, June 2nd, D James Bidzos sold 3,300 shares of VeriSign stock. The stock was sold at an average price of $297.47, for a total value of $981,651.00.

VeriSign Price Performance

Shares of VRSN opened at $276.90 on Friday. VeriSign, Inc. has a one year low of $208.86 and a one year high of $312.48. The firm has a market capitalization of $25.00 billion, a P/E ratio of 30.03 and a beta of 0.70. The business has a fifty day moving average of $272.56 and a 200 day moving average of $264.41.

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

VeriSign Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 27th. Stockholders of record on Wednesday, August 19th will be paid a $0.81 dividend. This represents a $3.24 annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Wednesday, August 19th. VeriSign’s dividend payout ratio is 35.14%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on VRSN. Citigroup upped their target price on shares of VeriSign from $295.00 to $320.00 and gave the company a “buy” rating in a report on Friday, April 24th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of VeriSign in a report on Wednesday, June 24th. JPMorgan Chase & Co. lifted their target price on VeriSign from $308.00 to $316.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Zacks Research upgraded VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, July 27th. Finally, Robert W. Baird raised their price objective on VeriSign from $305.00 to $355.00 and gave the stock an “outperform” rating in a research note on Friday, April 24th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and one has issued a Hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Buy” and an average target price of $328.75.

Check Out Our Latest Stock Analysis on VRSN

Institutional Trading of VeriSign

Hedge funds and other institutional investors have recently modified their holdings of the company. DV Equities LLC purchased a new position in shares of VeriSign during the 4th quarter valued at $28,000. Addison Advisors LLC bought a new stake in VeriSign during the second quarter valued at about $30,000. Sunbelt Securities Inc. raised its holdings in VeriSign by 429.2% during the third 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. PenderFund Capital Management Ltd. purchased a new position in shares of VeriSign in the second quarter valued at about $40,000. Finally, Advisors Asset Management Inc. lifted its position in shares of VeriSign by 25.3% in the first quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider’s stock valued at $50,000 after acquiring an additional 40 shares in the last quarter. 92.90% of the stock is owned by hedge funds and other institutional investors.

About VeriSign

(Get Free Report)

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.

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