VeriSign, Inc. (NASDAQ:VRSN – Get Free Report) EVP Thomas Indelicarto sold 500 shares of the stock in a transaction that occurred on Monday, November 9th. The shares were sold at an average price of $310.07, for a total transaction of $155,035.00. Following the sale, the executive vice president directly owned 30,895 shares of the company’s stock, valued at approximately $9,579,612.65. This represents a 1.59% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
VeriSign Stock Performance
VeriSign stock opened at $314.09 on Thursday. The firm has a market cap of $28.17 billion, a price-to-earnings ratio of 33.77 and a beta of 0.66. VeriSign, Inc. has a 1 year low of $208.86 and a 1 year high of $324.63. The firm’s 50 day moving average price is $299.37 and its two-hundred day moving average price is $273.85.
VeriSign (NASDAQ:VRSN – Get Free Report) last announced its quarterly earnings data on Thursday, October 22nd. The information services provider reported $2.35 EPS for the quarter, missing analysts’ consensus estimates of $2.46 by ($0.11). The company had revenue of $443.00 million for the quarter, compared to analyst estimates of $440.58 million. VeriSign had a net margin of 49.06% and a negative return on equity of 38.40%. VeriSign’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the company posted $2.27 EPS. As a group, equities analysts predict that VeriSign, Inc. will post 9.57 EPS for the current fiscal year.
VeriSign Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Tuesday, November 24th. Stockholders of record on Tuesday, November 17th will be given a dividend of $0.81 per share. The ex-dividend date of this dividend is Tuesday, November 17th. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.0%. VeriSign’s payout ratio is 34.84%.
Wall Street Analysts Forecast Growth
Several brokerages have recently commented on VRSN. Weiss Ratings raised VeriSign from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 12th. JPMorgan Chase & Co. lifted their price target on VeriSign from $308.00 to $316.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Zacks Research cut VeriSign from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, September 23rd. Wedbush boosted their price objective on VeriSign from $351.00 to $367.00 and gave the stock an “outperform” rating in a report on Monday, October 26th. Finally, Citigroup boosted their price objective on VeriSign from $325.00 to $345.00 and gave the stock a “buy” rating in a report on Friday, October 23rd. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $352.00.
View Our Latest Stock Analysis on VRSN
Institutional Investors Weigh In On VeriSign
Several hedge funds have recently made changes to their positions in the company. Livelsberger Financial Advisory purchased a new position in VeriSign during the 3rd quarter worth approximately $27,000. Addison Advisors LLC acquired a new stake in VeriSign during the 2nd quarter valued at $30,000. PenderFund Capital Management Ltd. acquired a new stake in VeriSign during the 2nd quarter valued at $40,000. NewEdge Advisors LLC lifted its holdings in shares of VeriSign by 40.5% in the second quarter. NewEdge Advisors LLC now owns 243 shares of the information services provider’s stock valued at $61,000 after purchasing an additional 70 shares in the last quarter. Finally, Global Assets Advisory LLC purchased a new stake in shares of VeriSign in the first quarter valued at $64,000. Hedge funds and other institutional investors own 92.90% of the company’s stock.
About VeriSign
VeriSign, Inc. operates critical internet infrastructure, best known for managing the domain-name registries for .com and .net. It provides the systems that allow domain names in these extensions to be registered and resolved through the Domain Name System, working with registrars that serve businesses and individuals. The company also provides registry services for other domain extensions and supports the security and stability of the internet’s naming infrastructure. Its services are used globally through a network of registrars and other internet service providers.
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