VeriSign, Inc. (NASDAQ:VRSN) Receives $292.00 Average Target Price from Analysts

Shares of VeriSign, Inc. (NASDAQ:VRSN) have been given a consensus recommendation of “Hold” by the five analysts that are covering the company, Marketbeat reports. Three analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12 month target price among brokerages that have covered the stock in the last year is $292.00.

A number of analysts recently commented on VRSN shares. Citigroup lowered their price objective on shares of VeriSign from $337.00 to $280.00 and set a “buy” rating for the company in a research report on Monday, February 9th. Zacks Research upgraded VeriSign from a “strong sell” rating to a “hold” rating in a report on Monday, February 9th. JPMorgan Chase & Co. raised their price target on VeriSign from $270.00 to $271.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 6th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of VeriSign in a research report on Monday, December 29th.

VeriSign Price Performance

Shares of NASDAQ:VRSN opened at $238.83 on Monday. The firm’s 50 day simple moving average is $236.99 and its 200 day simple moving average is $252.64. VeriSign has a fifty-two week low of $208.86 and a fifty-two week high of $310.60. The company has a market capitalization of $21.90 billion, a price-to-earnings ratio of 27.11 and a beta of 0.76.

VeriSign (NASDAQ:VRSN) last issued its earnings results on Thursday, February 5th. The information services provider reported $2.23 EPS for the quarter, missing the consensus estimate of $2.29 by ($0.06). The firm had revenue of $425.30 million during the quarter, compared to the consensus estimate of $424.04 million. VeriSign had a net margin of 49.84% and a negative return on equity of 40.40%. The firm’s revenue for the quarter was up 7.6% on a year-over-year basis. During the same period in the previous year, the company posted $2.00 EPS.

VeriSign Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 27th. Stockholders of record on Thursday, February 19th were issued a $0.81 dividend. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.4%. This is a positive change from VeriSign’s previous quarterly dividend of $0.77. The ex-dividend date was Thursday, February 19th. VeriSign’s dividend payout ratio is presently 36.78%.

Insider Activity

In other news, CEO D James Bidzos sold 5,000 shares of the firm’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $244.59, for a total value of $1,222,950.00. Following the completion of the transaction, the chief executive officer owned 434,099 shares in the company, valued at $106,176,274.41. This trade represents a 1.14% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Thomas C. Indelicarto sold 501 shares of the company’s stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $250.07, for a total value of $125,285.07. Following the sale, the executive vice president owned 31,609 shares in the company, valued at $7,904,462.63. The trade was a 1.56% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 23,659 shares of company stock valued at $5,788,560 over the last ninety days. 0.84% of the stock is owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the stock. Zions Bancorporation National Association UT grew its stake in shares of VeriSign by 20.2% in the second quarter. Zions Bancorporation National Association UT now owns 226 shares of the information services provider’s stock valued at $65,000 after buying an additional 38 shares in the last quarter. Advisors Asset Management Inc. raised its position in VeriSign by 25.3% during the first 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 in the last quarter. Tranquilli Financial Advisor LLC lifted its stake in VeriSign by 5.1% in the fourth quarter. Tranquilli Financial Advisor LLC now owns 872 shares of the information services provider’s stock valued at $212,000 after acquiring an additional 42 shares during the last quarter. Accretive Wealth Partners LLC lifted its stake in VeriSign by 0.8% in the third quarter. Accretive Wealth Partners LLC now owns 5,779 shares of the information services provider’s stock valued at $1,616,000 after acquiring an additional 44 shares during the last quarter. Finally, One Wealth Advisors LLC grew its position in shares of VeriSign by 3.8% in the 4th quarter. One Wealth Advisors LLC now owns 1,215 shares of the information services provider’s stock valued at $295,000 after acquiring an additional 44 shares during the period. Institutional investors and hedge funds own 92.90% of the company’s stock.

VeriSign Company Profile

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.