Verisign, Inc. (NASDAQ:VRSN) shares reached a new 52-week high during trading on Monday . The company traded as high as $191.20 and last traded at $189.09, with a volume of 9808 shares changing hands. The stock had previously closed at $189.60.
A number of research analysts have recently commented on VRSN shares. Zacks Investment Research upgraded Verisign from a “hold” rating to a “buy” rating and set a $195.00 price objective on the stock in a report on Saturday, February 9th. BidaskClub upgraded Verisign from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Citigroup reiterated a “neutral” rating and issued a $195.00 price objective (up previously from $175.00) on shares of Verisign in a report on Tuesday, March 5th. Finally, ValuEngine upgraded Verisign from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 12th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $175.00.
The company has a market capitalization of $22.57 billion, a PE ratio of 39.75 and a beta of 1.07.
Verisign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, February 7th. The information services provider reported $1.58 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.21 by $0.37. The firm had revenue of $307.45 million for the quarter, compared to the consensus estimate of $308.64 million. Verisign had a negative return on equity of 42.50% and a net margin of 47.94%. The firm’s quarterly revenue was up 4.0% compared to the same quarter last year. During the same quarter last year, the business posted $0.96 EPS. As a group, analysts expect that Verisign, Inc. will post 4.75 earnings per share for the current year.
In other Verisign news, Director Timothy Tomlinson sold 580 shares of the stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $175.12, for a total transaction of $101,569.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.35% of the stock is currently owned by company insiders.
A number of institutional investors have recently bought and sold shares of VRSN. Meeder Asset Management Inc. acquired a new stake in shares of Verisign in the 1st quarter valued at approximately $95,000. Flagship Harbor Advisors LLC raised its holdings in Verisign by 12.9% during the first quarter. Flagship Harbor Advisors LLC now owns 620 shares of the information services provider’s stock worth $112,000 after purchasing an additional 71 shares during the last quarter. Sciencast Management LP acquired a new position in Verisign during the first quarter worth $509,000. Virtu Financial LLC acquired a new position in Verisign during the first quarter worth $1,483,000. Finally, Ipswich Investment Management Co. Inc. raised its holdings in Verisign by 5.3% during the first quarter. Ipswich Investment Management Co. Inc. now owns 3,500 shares of the information services provider’s stock worth $635,000 after purchasing an additional 175 shares during the last quarter. 94.04% of the stock is owned by institutional investors.
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Verisign Company Profile (NASDAQ:VRSN)
VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.
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