Verisign, Inc. (NASDAQ:VRSN) hit a new 52-week high on Wednesday . The stock traded as high as $182.32 and last traded at $181.96, with a volume of 12222 shares. The stock had previously closed at $180.50.
Several research firms have recently commented on VRSN. ValuEngine raised Verisign from a “buy” rating to a “strong-buy” rating in a report on Tuesday, February 12th. Zacks Investment Research raised shares of Verisign from a “hold” rating to a “buy” rating and set a $195.00 price target for the company in a research report on Saturday, February 9th. BidaskClub raised shares of Verisign from a “sell” rating to a “hold” rating in a research report on Saturday, December 1st. Finally, Citigroup reissued a “neutral” rating and issued a $195.00 price target (up previously from $175.00) on shares of Verisign in a research report on Tuesday, March 5th. Four analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. Verisign has a consensus rating of “Buy” and a consensus price target of $175.00.
The company has a market capitalization of $21.40 billion, a PE ratio of 38.00 and a beta of 1.00.
Verisign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, February 7th. The information services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.21 by $0.37. The business had revenue of $307.45 million during 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 company’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter last year, the company earned $0.96 earnings per share. As a group, equities research analysts expect that Verisign, Inc. will post 4.75 earnings per share for the current year.
In other news, Director Timothy Tomlinson sold 580 shares of Verisign stock in a transaction dated Tuesday, February 19th. The stock was sold at an average price of $175.12, for a total transaction of $101,569.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 1.35% of the stock is owned by company insiders.
Institutional investors have recently made changes to their positions in the stock. Oregon Public Employees Retirement Fund increased its holdings in shares of Verisign by 41,120.7% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,763,452 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 3,754,322 shares in the last quarter. Athena Capital Advisors LLC purchased a new position in shares of Verisign during the fourth quarter worth approximately $39,000. Bessemer Group Inc. raised its stake in shares of Verisign by 43.5% during the fourth quarter. Bessemer Group Inc. now owns 277 shares of the information services provider’s stock worth $41,000 after acquiring an additional 84 shares in the last quarter. Signet Investment Advisory Group Inc. purchased a new position in shares of Verisign during the fourth quarter worth approximately $44,000. Finally, Sage Capital Advisors llc purchased a new position in shares of Verisign during the fourth quarter worth approximately $62,000. 92.92% of the stock is owned by hedge funds and other 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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