VeriSign, Inc. (NASDAQ:VRSN) Short Interest Update

VeriSign, Inc. (NASDAQ:VRSN) was the target of a significant decline in short interest in January. As of January 30th, there was short interest totaling 2,298,249 shares, a decline of 13.8% from the January 15th total of 2,665,860 shares. Based on an average daily volume of 663,587 shares, the short-interest ratio is presently 3.5 days. Approximately 2.5% of the company’s stock are short sold. Approximately 2.5% of the company’s stock are short sold. Based on an average daily volume of 663,587 shares, the short-interest ratio is presently 3.5 days.

Insiders Place Their Bets

In other news, EVP Thomas C. Indelicarto sold 501 shares of the business’s stock in a transaction that occurred on Tuesday, December 9th. The stock was sold at an average price of $250.07, for a total value of $125,285.07. Following the completion of the sale, the executive vice president directly owned 31,609 shares in the company, valued at approximately $7,904,462.63. The trade was a 1.56% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO D James Bidzos sold 5,000 shares of the company’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $244.59, for a total value of $1,222,950.00. Following the transaction, the chief executive officer directly owned 434,099 shares of the company’s stock, valued at $106,176,274.41. This trade represents a 1.14% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 25,662 shares of company stock worth $6,291,797 in the last quarter. 0.84% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On VeriSign

Large investors have recently made changes to their positions in the stock. Salomon & Ludwin LLC lifted its position in shares of VeriSign by 112.5% in the third quarter. Salomon & Ludwin LLC now owns 102 shares of the information services provider’s stock valued at $28,000 after buying an additional 54 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of VeriSign during the 3rd quarter valued at $29,000. Sunbelt Securities Inc. raised its position in shares of VeriSign by 429.2% in the 3rd quarter. Sunbelt Securities Inc. now owns 127 shares of the information services provider’s stock valued at $36,000 after buying an additional 103 shares in the last quarter. North Capital Inc. increased its stake in shares of VeriSign by 239.0% in the 3rd quarter. North Capital Inc. now owns 139 shares of the information services provider’s stock valued at $39,000 after purchasing an additional 98 shares during the last quarter. Finally, Board of the Pension Protection Fund acquired a new position in VeriSign during the 4th quarter worth approximately $39,000. Institutional investors and hedge funds own 92.90% of the company’s stock.

Wall Street Analysts Forecast Growth

VRSN has been the subject of several recent analyst reports. JPMorgan Chase & Co. increased their price objective on shares of VeriSign from $270.00 to $271.00 and gave the company a “neutral” rating in a report on Tuesday, January 6th. Weiss Ratings reissued a “hold (c+)” rating on shares of VeriSign in a research report on Monday, December 29th. Zacks Research upgraded VeriSign from a “strong sell” rating to a “hold” rating in a research report on Monday, February 9th. Citigroup lowered their price target on shares of VeriSign from $337.00 to $280.00 and set a “buy” rating on the stock in a report on Monday, February 9th. Finally, Robert W. Baird set a $325.00 price objective on shares of VeriSign in a research report on Friday, October 24th. Two analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $292.00.

VeriSign Price Performance

Shares of NASDAQ:VRSN traded down $5.46 during trading on Tuesday, reaching $213.57. The stock had a trading volume of 224,806 shares, compared to its average volume of 780,214. The stock has a market capitalization of $19.58 billion, a PE ratio of 24.24 and a beta of 0.75. VeriSign has a 52 week low of $208.86 and a 52 week high of $310.60. The business’s 50-day moving average price is $242.22 and its 200 day moving average price is $256.48.

VeriSign (NASDAQ:VRSN) last issued its earnings results on Thursday, February 5th. The information services provider reported $2.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.29 by ($0.06). The business 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% compared to the same quarter last year. During the same period last year, the business posted $2.00 EPS.

VeriSign Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 27th. Investors of record on Thursday, February 19th will be issued a dividend of $0.81 per share. The ex-dividend date is Thursday, February 19th. This is a boost from VeriSign’s previous quarterly dividend of $0.77. This represents a $3.24 dividend on an annualized basis and a dividend yield of 1.5%. VeriSign’s dividend payout ratio is 34.96%.

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.