D James Bidzos Sells 5,000 Shares of VeriSign (NASDAQ:VRSN) Stock

VeriSign, Inc. (NASDAQ:VRSN) CEO D James Bidzos sold 5,000 shares of the business’s stock in a transaction dated Tuesday, December 16th. The shares were sold at an average price of $241.79, for a total value of $1,208,950.00. Following the transaction, the chief executive officer owned 425,099 shares in the company, valued at approximately $102,784,687.21. This represents a 1.16% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

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

• On Wednesday, December 17th, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $244.25, for a total value of $488,500.00.
• On Wednesday, December 10th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $242.07, for a total value of $484,140.00.
• On Tuesday, December 9th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $244.59, for a total value of $1,222,950.00.
• On Wednesday, November 19th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $246.05, for a total transaction of $492,100.00.
• On Tuesday, November 18th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $250.05, for a total transaction of $1,250,250.00.
• On Wednesday, November 12th, D James Bidzos sold 2,000 shares of VeriSign stock. The stock was sold at an average price of $251.27, for a total transaction of $502,540.00.
• On Tuesday, November 11th, D James Bidzos sold 5,000 shares of VeriSign stock. The shares were sold at an average price of $248.14, for a total transaction of $1,240,700.00.
• On Wednesday, October 22nd, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $261.54, for a total transaction of $523,080.00.
• On Tuesday, October 21st, D James Bidzos sold 5,000 shares of VeriSign stock. The stock was sold at an average price of $267.43, for a total transaction of $1,337,150.00.
• On Wednesday, October 15th, D James Bidzos sold 2,000 shares of VeriSign stock. The shares were sold at an average price of $264.06, for a total value of $528,120.00.

VeriSign Stock Performance

Shares of NASDAQ:VRSN opened at $244.03 on Friday. VeriSign, Inc. has a 52-week low of $193.95 and a 52-week high of $310.60. The firm has a market capitalization of $22.62 billion, a P/E ratio of 28.44 and a beta of 0.78. The stock has a 50 day moving average price of $249.16 and a 200-day moving average price of $268.60.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, October 23rd. The information services provider reported $2.27 earnings per share for the quarter, beating the consensus estimate of $2.25 by $0.02. The company had revenue of $419.10 million for the quarter, compared to analyst estimates of $416.71 million. VeriSign had a negative return on equity of 40.66% and a net margin of 49.86%.The firm’s revenue was up 7.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.07 earnings per share.

VeriSign Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 18th were given a $0.77 dividend. The ex-dividend date of this dividend was Tuesday, November 18th. This represents a $3.08 dividend on an annualized basis and a dividend yield of 1.3%. VeriSign’s dividend payout ratio is currently 35.90%.

Analyst Ratings Changes

VRSN has been the topic of several research reports. Zacks Research raised shares of VeriSign to a “hold” rating in a research note on Thursday, October 30th. Robert W. Baird set a $325.00 price target on VeriSign in a research report on Friday, October 24th. Citigroup reaffirmed a “buy” rating on shares of VeriSign in a research report on Friday, October 24th. Weiss Ratings reissued a “hold (c+)” rating on shares of VeriSign in a report on Monday. Finally, JPMorgan Chase & Co. assumed coverage on VeriSign in a research note on Tuesday, October 28th. They issued a “neutral” rating and a $270.00 target price on the stock. Two analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $281.67.

Hedge Funds Weigh In On VeriSign

Several hedge funds and other institutional investors have recently added to or reduced their stakes in VRSN. Kovitz Investment Group Partners LLC raised its stake in shares of VeriSign by 3.1% in the first quarter. Kovitz Investment Group Partners LLC now owns 1,861 shares of the information services provider’s stock worth $472,000 after purchasing an additional 56 shares during the last quarter. Aberdeen Group plc increased its holdings in VeriSign by 9.9% in the 1st quarter. Aberdeen Group plc now owns 22,059 shares of the information services provider’s stock worth $5,531,000 after buying an additional 1,980 shares in the last quarter. American Century Companies Inc. raised its position in VeriSign by 548.1% in the 1st quarter. American Century Companies Inc. now owns 92,825 shares of the information services provider’s stock worth $23,565,000 after buying an additional 78,503 shares during the last quarter. Raymond James Financial Inc. lifted its stake in VeriSign by 11.5% during the 1st quarter. Raymond James Financial Inc. now owns 44,760 shares of the information services provider’s stock valued at $11,363,000 after acquiring an additional 4,607 shares during the period. Finally, Brooklyn Investment Group lifted its stake in VeriSign by 30.0% during the 1st quarter. Brooklyn Investment Group now owns 898 shares of the information services provider’s stock valued at $228,000 after acquiring an additional 207 shares during the period. 92.90% of the stock is owned by institutional investors.

About VeriSign

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.