A number of other equities research analysts also recently commented on VRSN. Zacks Investment Research upgraded shares of VeriSign from a hold rating to a buy rating and set a $218.00 price objective for the company in a research report on Tuesday, August 25th. Robert W. Baird restated a buy rating and issued a $250.00 price objective on shares of VeriSign in a research report on Tuesday, June 23rd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating and two have assigned a buy rating to the company’s stock. VeriSign has a consensus rating of Hold and a consensus price target of $226.75.
Shares of VRSN opened at $207.34 on Wednesday. VeriSign has a fifty-two week low of $148.77 and a fifty-two week high of $221.30. The company has a market capitalization of $23.81 billion, a price-to-earnings ratio of 30.76 and a beta of 0.85. The firm has a 50-day simple moving average of $205.54 and a 200-day simple moving average of $206.36.
VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, July 23rd. The information services provider reported $1.32 EPS for the quarter, meeting the Zacks’ consensus estimate of $1.32. The firm had revenue of $314.37 million during the quarter, compared to the consensus estimate of $312.43 million. VeriSign had a net margin of 63.32% and a negative return on equity of 54.86%. As a group, sell-side analysts forecast that VeriSign will post 5.26 earnings per share for the current fiscal year.
In other news, COO Todd B. Strubbe sold 9,500 shares of VeriSign stock in a transaction that occurred on Thursday, July 30th. The shares were sold at an average price of $208.25, for a total transaction of $1,978,375.00. Following the completion of the sale, the chief operating officer now directly owns 115,392 shares in the company, valued at approximately $24,030,384. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Timothy Tomlinson sold 603 shares of the firm’s stock in a transaction that occurred on Monday, July 27th. The stock was sold at an average price of $210.17, for a total transaction of $126,732.51. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 85,716 shares of company stock valued at $18,070,412. Insiders own 1.35% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Signaturefd LLC increased its stake in shares of VeriSign by 3.8% during the 2nd quarter. Signaturefd LLC now owns 1,686 shares of the information services provider’s stock worth $349,000 after purchasing an additional 61 shares in the last quarter. CSat Investment Advisory L.P. increased its stake in shares of VeriSign by 11.8% during the 2nd quarter. CSat Investment Advisory L.P. now owns 578 shares of the information services provider’s stock worth $120,000 after purchasing an additional 61 shares in the last quarter. CWM LLC increased its stake in shares of VeriSign by 117.3% during the 2nd quarter. CWM LLC now owns 163 shares of the information services provider’s stock worth $34,000 after purchasing an additional 88 shares in the last quarter. Cypress Capital Group increased its stake in shares of VeriSign by 3.2% during the 3rd quarter. Cypress Capital Group now owns 3,472 shares of the information services provider’s stock worth $712,000 after purchasing an additional 107 shares in the last quarter. Finally, DNB Asset Management AS increased its stake in shares of VeriSign by 1.0% during the 3rd quarter. DNB Asset Management AS now owns 11,891 shares of the information services provider’s stock worth $2,436,000 after purchasing an additional 113 shares in the last quarter. 90.33% of the stock is owned by institutional investors and hedge funds.
VeriSign, Inc, together with its subsidiaries, provides domain name registry services and Internet infrastructure that enables Internet navigation for various recognized domain names worldwide. It enables the security, stability, and resiliency of Internet infrastructure and services, including providing root zone maintainer services, operating two of the 13 Internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which support global e-commerce.
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