VeriSign (NASDAQ:VRSN) Stock Rating Upgraded by Robert W. Baird

Robert W. Baird upgraded shares of VeriSign (NASDAQ:VRSN - Free Report) from a neutral rating to an outperform rating in a research note issued to investors on Monday morning, MarketBeat.com reports. They currently have $250.00 target price on the information services provider's stock, up from their prior target price of $200.00.

VeriSign Stock Performance

Shares of VeriSign stock traded up $9.32 during midday trading on Monday, reaching $200.46. 848,912 shares of the company's stock traded hands, compared to its average volume of 663,569. VeriSign has a 52 week low of $167.04 and a 52 week high of $220.91. The company's 50 day simple moving average is $184.86 and its 200 day simple moving average is $181.29. The company has a market cap of $19.26 billion, a price-to-earnings ratio of 22.23 and a beta of 0.92.

VeriSign (NASDAQ:VRSN - Get Free Report) last issued its quarterly earnings data on Thursday, October 24th. The information services provider reported $2.07 EPS for the quarter, beating analysts' consensus estimates of $2.01 by $0.06. The business had revenue of $390.60 million for the quarter, compared to analyst estimates of $390.19 million. VeriSign had a negative return on equity of 45.59% and a net margin of 55.74%. The firm's revenue for the quarter was up 3.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.83 EPS.

Insider Buying and Selling at VeriSign

In related news, EVP Thomas C. Indelicarto sold 1,228 shares of the company's stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $190.00, for a total value of $233,320.00. Following the sale, the executive vice president now owns 33,593 shares of the company's stock, valued at $6,382,670. The trade was a 3.53 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Danny R. Mcpherson sold 2,092 shares of the firm's stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $192.43, for a total transaction of $402,563.56. Following the transaction, the executive vice president now owns 26,157 shares of the company's stock, valued at approximately $5,033,391.51. This represents a 7.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,776 shares of company stock valued at $1,102,524 in the last ninety days. Company insiders own 0.84% of the company's stock.

Institutional Trading of VeriSign

Several institutional investors have recently bought and sold shares of VRSN. Franklin Resources Inc. boosted its holdings in shares of VeriSign by 59.4% in the 3rd quarter. Franklin Resources Inc. now owns 102,042 shares of the information services provider's stock worth $19,224,000 after acquiring an additional 38,036 shares in the last quarter. Tri Ri Asset Management Corp bought a new stake in VeriSign during the 3rd quarter worth about $5,204,000. Tidal Investments LLC increased its position in VeriSign by 54.8% in the 3rd quarter. Tidal Investments LLC now owns 27,175 shares of the information services provider's stock valued at $5,162,000 after acquiring an additional 9,619 shares in the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of VeriSign in the third quarter worth about $130,000. Finally, Te Ahumairangi Investment Management Ltd lifted its position in shares of VeriSign by 5.7% during the third quarter. Te Ahumairangi Investment Management Ltd now owns 69,175 shares of the information services provider's stock worth $13,066,000 after purchasing an additional 3,760 shares in the last quarter. Institutional investors and hedge funds own 92.90% of the company's stock.

VeriSign Company Profile

VeriSign, Inc, together with its subsidiaries, provides domain name registry services and internet infrastructure that enables internet navigation for various recognized domain names worldwide. The company enables the security, stability, and resiliency of internet infrastructure and services, including providing root zone maintainer services, operating two of thirteen internet root servers; and offering registration services and authoritative resolution for the .com and .net domains, which supports global e-commerce.