VeriSign, Inc. (VRSN) Sets New 12-Month High at $111.40
Shares of VeriSign, Inc. (NASDAQ:VRSN) reached a new 52-week high on Tuesday . The stock traded as high as $111.40 and last traded at $111.18, with a volume of 813300 shares changing hands. The stock had previously closed at $109.75.
Several analysts have weighed in on VRSN shares. Citigroup Inc. lifted their price objective on VeriSign from $101.00 to $111.00 and gave the company a “neutral” rating in a research report on Friday, October 27th. Robert W. Baird reaffirmed a “hold” rating and set a $105.00 price objective on shares of VeriSign in a research report on Thursday, August 31st. BidaskClub raised VeriSign from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 26th. Zacks Investment Research cut VeriSign from a “hold” rating to a “sell” rating in a research report on Wednesday, November 1st. Finally, Cowen and Company reaffirmed a “hold” rating and set a $103.00 price objective on shares of VeriSign in a research report on Sunday, October 29th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and one has assigned a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $106.33.
The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of -1.45. The stock has a market capitalization of $10,959.02, a PE ratio of 31.06 and a beta of 1.03.
VeriSign (NASDAQ:VRSN) last issued its quarterly earnings results on Thursday, October 26th. The information services provider reported $1.00 EPS for the quarter, topping analysts’ consensus estimates of $0.97 by $0.03. VeriSign had a negative return on equity of 36.88% and a net margin of 39.79%. The firm had revenue of $292.40 million for the quarter, compared to analysts’ expectations of $290.90 million. During the same period in the previous year, the firm posted $0.93 EPS. The business’s revenue for the quarter was up 1.7% compared to the same quarter last year. equities research analysts expect that VeriSign, Inc. will post 3.65 EPS for the current fiscal year.
In other news, Director Kathleen A. Cote sold 1,500 shares of the business’s stock in a transaction that occurred on Tuesday, August 22nd. The stock was sold at an average price of $99.94, for a total value of $149,910.00. Following the sale, the director now directly owns 38,294 shares of the company’s stock, valued at approximately $3,827,102.36. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 1.02% of the company’s stock.
Several institutional investors and hedge funds have recently modified their holdings of the company. Whittier Trust Co. of Nevada Inc. boosted its position in shares of VeriSign by 2.1% in the 2nd quarter. Whittier Trust Co. of Nevada Inc. now owns 2,086 shares of the information services provider’s stock worth $194,000 after purchasing an additional 42 shares in the last quarter. Suntrust Banks Inc. boosted its position in shares of VeriSign by 0.5% in the 2nd quarter. Suntrust Banks Inc. now owns 10,455 shares of the information services provider’s stock worth $971,000 after purchasing an additional 54 shares in the last quarter. Scotia Capital Inc. boosted its position in shares of VeriSign by 0.6% in the 2nd quarter. Scotia Capital Inc. now owns 12,000 shares of the information services provider’s stock worth $1,115,000 after purchasing an additional 75 shares in the last quarter. Conning Inc. boosted its position in shares of VeriSign by 3.1% in the 2nd quarter. Conning Inc. now owns 2,674 shares of the information services provider’s stock worth $249,000 after purchasing an additional 80 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its position in shares of VeriSign by 2.5% in the 2nd quarter. Thrivent Financial For Lutherans now owns 3,340 shares of the information services provider’s stock worth $310,000 after purchasing an additional 80 shares in the last quarter.
VeriSign, Inc is a provider of domain name registry services and Internet security. The Company operates through Registry Services and Security Services segment. Registry Services ensure the security, stability and resiliency of Internet infrastructure and services, including the .com and .net domains, and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS).
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