VeriSign, Inc. (NASDAQ:VRSN) Given Consensus Recommendation of “Hold” by Brokerages

Shares of VeriSign, Inc. (NASDAQ:VRSN) have been given an average rating of “Hold” by the five research firms that are presently covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $282.00.

Several equities analysts recently commented on the stock. Robert W. Baird set a $325.00 price objective on shares of VeriSign in a research note on Friday, October 24th. JPMorgan Chase & Co. upped their price target on shares of VeriSign from $270.00 to $271.00 and gave the stock a “neutral” rating in a report on Tuesday, January 6th. Zacks Research cut VeriSign from a “hold” rating to a “strong sell” rating in a research note on Tuesday, December 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of VeriSign in a report on Monday, December 29th. Finally, Citigroup restated a “buy” rating on shares of VeriSign in a research report on Friday, October 24th.

Insider Buying and Selling

In related news, CEO D James Bidzos sold 5,000 shares of VeriSign stock in a transaction that occurred on Tuesday, November 18th. The shares were sold at an average price of $250.05, for a total transaction of $1,250,250.00. Following the sale, the chief executive officer directly owned 442,966 shares in the company, valued at $110,763,648.30. This trade represents a 1.12% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Danny R. Mcpherson sold 2,500 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $236.87, for a total transaction of $592,175.00. Following the sale, the executive vice president directly owned 28,577 shares in the company, valued at $6,769,033.99. The trade was a 8.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 47,670 shares of company stock valued at $11,986,654. 0.84% of the stock is owned by company insiders.

Institutional Trading of VeriSign

Institutional investors and hedge funds have recently bought and sold shares of the stock. SG Americas Securities LLC lifted its holdings in VeriSign by 1,163.8% during the 4th quarter. SG Americas Securities LLC now owns 77,039 shares of the information services provider’s stock worth $18,717,000 after buying an additional 70,943 shares during the period. Wealth Enhancement Advisory Services LLC increased its stake in shares of VeriSign by 152.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 308,091 shares of the information services provider’s stock valued at $75,922,000 after buying an additional 186,029 shares during the period. NorthCrest Asset Manangement LLC raised its position in shares of VeriSign by 41.0% during the fourth quarter. NorthCrest Asset Manangement LLC now owns 10,138 shares of the information services provider’s stock worth $2,426,000 after acquiring an additional 2,948 shares during the last quarter. CWA Asset Management Group LLC lifted its stake in shares of VeriSign by 3.0% in the fourth quarter. CWA Asset Management Group LLC now owns 19,587 shares of the information services provider’s stock worth $4,759,000 after acquiring an additional 574 shares during the period. Finally, Board of the Pension Protection Fund acquired a new position in shares of VeriSign in the fourth quarter worth approximately $39,000. 92.90% of the stock is currently owned by institutional investors and hedge funds.

VeriSign Stock Up 0.7%

VeriSign stock opened at $248.94 on Friday. VeriSign has a 12-month low of $205.37 and a 12-month high of $310.60. The business’s 50-day moving average price is $246.63 and its two-hundred day moving average price is $264.76. The stock has a market cap of $23.08 billion, a PE ratio of 29.01 and a beta of 0.77.

VeriSign (NASDAQ:VRSN) last posted its earnings results on Thursday, October 23rd. The information services provider reported $2.27 EPS for the quarter, topping analysts’ consensus estimates of $2.25 by $0.02. VeriSign had a net margin of 49.86% and a negative return on equity of 40.66%. The firm had revenue of $419.10 million during the quarter, compared to analysts’ expectations of $416.71 million. During the same quarter in the prior year, the business earned $2.07 earnings per share. The business’s revenue for the quarter was up 7.3% compared to the same quarter last year.

VeriSign Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, November 25th. Stockholders of record on Tuesday, November 18th were issued a dividend of $0.77 per share. This represents a $3.08 annualized dividend and a dividend yield of 1.2%. The ex-dividend date was Tuesday, November 18th. VeriSign’s payout ratio is 35.90%.

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.