VeriSign, Inc. (NASDAQ:VRSN - Get Free Report)'s stock price reached a new 52-week high during mid-day trading on Wednesday . The company traded as high as $290.91 and last traded at $290.56, with a volume of 296281 shares trading hands. The stock had previously closed at $286.85.
Analysts Set New Price Targets
A number of analysts recently weighed in on VRSN shares. Robert W. Baird lifted their price target on VeriSign from $285.00 to $305.00 and gave the company an "outperform" rating in a research note on Tuesday, July 1st. Wall Street Zen upgraded VeriSign from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th.
View Our Latest Report on VeriSign
VeriSign Stock Up 1.0%
The company has a market capitalization of $27.21 billion, a price-to-earnings ratio of 35.42 and a beta of 0.78. The company has a 50 day simple moving average of $280.88 and a 200 day simple moving average of $247.94.
VeriSign (NASDAQ:VRSN - Get Free Report) last posted its earnings results on Thursday, April 24th. The information services provider reported $2.10 earnings per share for the quarter, meeting the consensus estimate of $2.10. The business had revenue of $402.30 million for the quarter, compared to analyst estimates of $400.44 million. VeriSign had a net margin of 50.23% and a negative return on equity of 41.37%. The business's quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.92 EPS.
VeriSign Dividend Announcement
The business also recently announced a -- dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were paid a $0.77 dividend. The ex-dividend date was Monday, May 19th. VeriSign's dividend payout ratio (DPR) is currently 37.65%.
Insider Activity
In other news, CEO D James Bidzos sold 4,000 shares of the stock in a transaction dated Wednesday, June 18th. The stock was sold at an average price of $281.87, for a total value of $1,127,480.00. Following the completion of the sale, the chief executive officer owned 531,772 shares in the company, valued at approximately $149,890,573.64. This trade represents a 0.75% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Thomas C. Indelicarto sold 501 shares of the stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $290.17, for a total value of $145,375.17. Following the completion of the sale, the executive vice president owned 38,270 shares of the company's stock, valued at approximately $11,104,805.90. This trade represents a 1.29% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 25,503 shares of company stock worth $7,158,975. 0.84% of the stock is currently owned by corporate insiders.
Institutional Investors Weigh In On VeriSign
Large investors have recently modified their holdings of the stock. Jones Financial Companies Lllp grew its stake in VeriSign by 10.9% during the 4th quarter. Jones Financial Companies Lllp now owns 1,512 shares of the information services provider's stock valued at $313,000 after purchasing an additional 149 shares in the last quarter. M&T Bank Corp grew its stake in VeriSign by 16.2% during the 4th quarter. M&T Bank Corp now owns 5,437 shares of the information services provider's stock valued at $1,125,000 after purchasing an additional 760 shares in the last quarter. Proficio Capital Partners LLC acquired a new stake in VeriSign during the 4th quarter valued at approximately $11,865,000. Raymond James Financial Inc. acquired a new stake in VeriSign during the 4th quarter valued at approximately $8,310,000. Finally, Amundi grew its stake in VeriSign by 17.8% during the 4th quarter. Amundi now owns 702,055 shares of the information services provider's stock valued at $148,604,000 after purchasing an additional 106,094 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company's stock.
About VeriSign
(
Get Free Report)
VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.
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