Shares of Verisign, Inc. (NASDAQ:VRSN) have earned a consensus rating of “Hold” from the seven research firms that are presently covering the company, MarketBeat reports. Five research analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $160.00.
Several brokerages recently issued reports on VRSN. BidaskClub cut Verisign from a “strong-buy” rating to a “buy” rating in a report on Tuesday, October 9th. Zacks Investment Research reissued a “hold” rating on shares of Verisign in a report on Saturday, November 17th. JPMorgan Chase & Co. raised Verisign from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $125.00 to $160.00 in a report on Friday, November 2nd. Robert W. Baird raised Verisign from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $160.00 to $170.00 in a report on Friday, November 2nd. Finally, Citigroup boosted their price target on Verisign from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, November 2nd.
VRSN stock traded down $5.72 during midday trading on Wednesday, hitting $153.55. 802,667 shares of the stock were exchanged, compared to its average volume of 831,594. The stock has a market cap of $18.87 billion, a PE ratio of 41.73 and a beta of 0.99. Verisign has a fifty-two week low of $105.40 and a fifty-two week high of $176.76.
Verisign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, October 25th. The information services provider reported $1.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.13. The firm had revenue of $305.78 million during the quarter, compared to analysts’ expectations of $305.25 million. Verisign had a negative return on equity of 38.09% and a net margin of 41.82%. As a group, sell-side analysts anticipate that Verisign will post 4.37 EPS for the current year.
In other news, Director Kathleen A. Cote sold 2,384 shares of the business’s stock in a transaction on Monday, November 5th. The stock was sold at an average price of $160.50, for a total value of $382,632.00. Following the completion of the transaction, the director now directly owns 37,594 shares of the company’s stock, valued at $6,033,837. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 1.35% of the company’s stock.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Great Lakes Advisors LLC grew its position in shares of Verisign by 122.4% in the third quarter. Great Lakes Advisors LLC now owns 4,902 shares of the information services provider’s stock valued at $785,000 after purchasing an additional 2,698 shares during the period. Vanguard Group Inc. grew its position in shares of Verisign by 4.5% in the third quarter. Vanguard Group Inc. now owns 11,368,270 shares of the information services provider’s stock valued at $1,820,286,000 after purchasing an additional 485,685 shares during the period. Morgan Stanley grew its position in shares of Verisign by 20.4% in the third quarter. Morgan Stanley now owns 268,922 shares of the information services provider’s stock valued at $43,060,000 after purchasing an additional 45,588 shares during the period. Legal & General Group Plc grew its position in shares of Verisign by 5.1% in the third quarter. Legal & General Group Plc now owns 582,534 shares of the information services provider’s stock valued at $93,258,000 after purchasing an additional 28,190 shares during the period. Finally, New Mexico Educational Retirement Board grew its position in shares of Verisign by 11.7% in the third quarter. New Mexico Educational Retirement Board now owns 8,583 shares of the information services provider’s stock valued at $1,374,000 after purchasing an additional 900 shares during the period. 92.19% of the stock is owned by institutional investors.
VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.
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