VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) shares hit a new 52-week high on Wednesday . The stock traded as high as $290.91 and last traded at $290.56, with a volume of 296281 shares. The stock had previously closed at $286.85.
Wall Street Analyst Weigh In
A number of brokerages have commented on VRSN. Robert W. Baird increased their price objective on shares of VeriSign from $285.00 to $305.00 and gave the company an "outperform" rating in a research report on Tuesday, July 1st. Wall Street Zen raised shares of VeriSign from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th.
View Our Latest Analysis on VRSN
VeriSign Stock Performance
The stock's 50-day simple moving average is $281.14 and its 200 day simple moving average is $248.82. The company has a market capitalization of $26.79 billion, a PE ratio of 34.88 and a beta of 0.78.
VeriSign (NASDAQ:VRSN - Get Free Report) last issued its earnings results on Thursday, April 24th. The information services provider reported $2.10 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.10. VeriSign had a net margin of 50.23% and a negative return on equity of 41.37%. The business had revenue of $402.30 million during the quarter, compared to analysts' expectations of $400.44 million. During the same quarter in the prior year, the business posted $1.92 EPS. The company's revenue for the quarter was up 4.7% on a year-over-year basis.
VeriSign Announces Dividend
The business also recently announced a -- dividend, which was paid on Wednesday, May 28th. Stockholders of record on Monday, May 19th were issued a $0.77 dividend. The ex-dividend date of this dividend was Monday, May 19th. VeriSign's payout ratio is 37.65%.
Insider Activity
In other news, EVP Thomas C. Indelicarto sold 501 shares of the company's stock in a transaction on 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 transaction, the executive vice president owned 38,270 shares in the company, valued at approximately $11,104,805.90. This represents a 1.29% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO D James Bidzos sold 5,000 shares of the company's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $276.71, for a total transaction of $1,383,550.00. Following the completion of the transaction, the chief executive officer owned 544,772 shares of the company's stock, valued at approximately $150,743,860.12. The trade was a 0.91% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 33,004 shares of company stock worth $9,305,492. Corporate insiders own 0.84% of the company's stock.
Institutional Trading of VeriSign
A number of large investors have recently bought and sold shares of VRSN. Norges Bank acquired a new stake in VeriSign during the 4th quarter worth $222,840,000. AQR Capital Management LLC boosted its stake in VeriSign by 75.5% during the 1st quarter. AQR Capital Management LLC now owns 2,329,640 shares of the information services provider's stock worth $586,417,000 after purchasing an additional 1,002,510 shares during the period. GAMMA Investing LLC boosted its stake in VeriSign by 34,326.0% during the 1st quarter. GAMMA Investing LLC now owns 697,127 shares of the information services provider's stock worth $176,980,000 after purchasing an additional 695,102 shares during the period. Alliancebernstein L.P. boosted its stake in VeriSign by 477.1% during the 1st quarter. Alliancebernstein L.P. now owns 791,271 shares of the information services provider's stock worth $200,880,000 after purchasing an additional 654,170 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in VeriSign by 268.8% during the 4th quarter. Point72 Asset Management L.P. now owns 692,498 shares of the information services provider's stock worth $143,319,000 after purchasing an additional 504,748 shares during the period. 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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