VeriSign (NASDAQ:VRSN) Trading Down 2.9% - What's Next?

VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) shares traded down 2.9% during mid-day trading on Tuesday . The stock traded as low as $272.70 and last traded at $271.64. 298,464 shares traded hands during mid-day trading, a decline of 60% from the average session volume of 753,978 shares. The stock had previously closed at $279.76.

Analyst Ratings Changes

Several analysts recently weighed in on VRSN shares. Wall Street Zen upgraded VeriSign from a "hold" rating to a "buy" rating in a research report on Saturday, April 12th. Robert W. Baird increased their target price on shares of VeriSign from $275.00 to $285.00 and gave the stock an "outperform" rating in a report on Friday, April 25th. Finally, Citigroup raised their price target on shares of VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th.

VeriSign Stock Performance

The company has a market cap of $25.30 billion, a price-to-earnings ratio of 33.67 and a beta of 0.80. The company has a fifty day moving average of $263.19 and a two-hundred day moving average of $229.75.

VeriSign (NASDAQ:VRSN - Get Free Report) last issued its quarterly earnings results on Thursday, April 24th. The information services provider reported $2.10 EPS for the quarter, hitting analysts' consensus estimates of $2.10. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%. The company had revenue of $402.30 million for the quarter, compared to analyst estimates of $400.44 million. During the same quarter in the previous year, the business earned $1.92 earnings per share. VeriSign's revenue was up 4.7% compared to the same quarter last year.

VeriSign Announces Dividend

The company also recently announced a -- dividend, which was paid on Wednesday, May 28th. Investors of record on Monday, May 19th were paid a dividend of $0.77 per share. The ex-dividend date of this dividend was Monday, May 19th. VeriSign's dividend payout ratio is presently 37.65%.

Insider Activity at VeriSign

In other VeriSign news, Director Yehuda Ari Buchalter sold 600 shares of the business's stock in a transaction that occurred on Tuesday, May 6th. The stock was sold at an average price of $283.79, for a total value of $170,274.00. Following the transaction, the director now directly owns 3,735 shares of the company's stock, valued at approximately $1,059,955.65. The trade was a 13.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP John Calys sold 400 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $281.97, for a total value of $112,788.00. Following the transaction, the senior vice president now owns 23,335 shares in the company, valued at $6,579,769.95. The trade was a 1.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,501 shares of company stock worth $2,387,664 over the last quarter. Company insiders own 0.84% of the company's stock.

Hedge Funds Weigh In On VeriSign

A number of large investors have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of VeriSign by 2.5% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 1,506 shares of the information services provider's stock valued at $382,000 after buying an additional 37 shares in the last quarter. Flputnam Investment Management Co. increased its position in shares of VeriSign by 1.8% during the first quarter. Flputnam Investment Management Co. now owns 2,183 shares of the information services provider's stock worth $554,000 after acquiring an additional 39 shares in the last quarter. Advisors Asset Management Inc. raised its holdings in shares of VeriSign by 25.3% in the 1st quarter. Advisors Asset Management Inc. now owns 198 shares of the information services provider's stock worth $50,000 after acquiring an additional 40 shares during the last quarter. Cromwell Holdings LLC lifted its position in VeriSign by 32.3% in the 1st quarter. Cromwell Holdings LLC now owns 172 shares of the information services provider's stock valued at $44,000 after acquiring an additional 42 shares in the last quarter. Finally, Hohimer Wealth Management LLC lifted its position in VeriSign by 0.3% in the 1st quarter. Hohimer Wealth Management LLC now owns 14,461 shares of the information services provider's stock valued at $3,671,000 after acquiring an additional 43 shares in the last quarter. 92.90% of the stock is currently owned by institutional investors.

About VeriSign

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.