Verisign (NASDAQ:VRSN) posted its quarterly earnings results on Thursday. The information services provider reported $1.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.18 by $0.06, RTT News reports. Verisign had a net margin of 49.98% and a negative return on equity of 43.07%. The firm had revenue of $306.29 million during the quarter, compared to analyst estimates of $306.57 million. During the same quarter in the prior year, the business posted $1.18 earnings per share. The company’s quarterly revenue was up 1.3% compared to the same quarter last year.
NASDAQ:VRSN traded up $0.79 during mid-day trading on Friday, hitting $216.64. The company’s stock had a trading volume of 41,268 shares, compared to its average volume of 651,548. Verisign has a fifty-two week low of $131.28 and a fifty-two week high of $221.78. The firm has a market cap of $25.73 billion, a P/E ratio of 45.60 and a beta of 1.03. The company has a fifty day simple moving average of $211.86.
In related news, Director Timothy Tomlinson sold 378 shares of the stock in a transaction dated Monday, April 29th. The shares were sold at an average price of $199.55, for a total value of $75,429.90. Following the completion of the transaction, the director now owns 34,094 shares of the company’s stock, valued at $6,803,457.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.20% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of VRSN. Norges Bank acquired a new stake in shares of Verisign during the fourth quarter worth approximately $186,459,000. BlackRock Inc. increased its holdings in shares of Verisign by 9.0% during the first quarter. BlackRock Inc. now owns 9,645,753 shares of the information services provider’s stock worth $1,751,284,000 after buying an additional 797,069 shares in the last quarter. FMR LLC increased its holdings in shares of Verisign by 28.3% during the fourth quarter. FMR LLC now owns 1,524,909 shares of the information services provider’s stock worth $226,129,000 after buying an additional 336,265 shares in the last quarter. MERIAN GLOBAL INVESTORS UK Ltd increased its holdings in shares of Verisign by 247.3% during the first quarter. MERIAN GLOBAL INVESTORS UK Ltd now owns 301,605 shares of the information services provider’s stock worth $54,759,000 after buying an additional 214,750 shares in the last quarter. Finally, California Public Employees Retirement System increased its holdings in shares of Verisign by 24.3% during the first quarter. California Public Employees Retirement System now owns 711,612 shares of the information services provider’s stock worth $129,200,000 after buying an additional 139,155 shares in the last quarter. 91.52% of the stock is owned by institutional investors.
VRSN has been the subject of several recent research reports. Zacks Investment Research lowered shares of German American Bancorp. from a “buy” rating to a “hold” rating in a research report on Tuesday, April 30th. Robert W. Baird increased their price target on shares of Verisign from $210.00 to $240.00 and gave the stock an “outperform” rating in a research report on Friday. Three equities research analysts have rated the stock with a hold rating, two have issued a buy rating and two have assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $194.80.
Verisign Company Profile
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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