VeriSign (NASDAQ:VRSN) Rating Lowered to Hold at StockNews.com

StockNews.com downgraded shares of VeriSign (NASDAQ:VRSN - Free Report) from a buy rating to a hold rating in a report issued on Monday.

A number of other equities research analysts have also recently issued reports on the company. Baird R W raised VeriSign from a "hold" rating to a "strong-buy" rating in a research report on Monday, December 9th. Citigroup raised their target price on shares of VeriSign from $246.00 to $250.00 and gave the company a "buy" rating in a research note on Tuesday, February 4th. Finally, Robert W. Baird raised shares of VeriSign from a "neutral" rating to an "outperform" rating and boosted their target price for the stock from $200.00 to $250.00 in a research report on Monday, December 9th.

VeriSign Stock Up 1.6 %

Shares of VRSN traded up $3.89 during midday trading on Monday, reaching $240.93. 738,086 shares of the stock were exchanged, compared to its average volume of 813,012. The company has a market cap of $22.79 billion, a price-to-earnings ratio of 30.12 and a beta of 0.87. The firm has a 50 day simple moving average of $217.99 and a 200-day simple moving average of $197.10. VeriSign has a 12-month low of $167.04 and a 12-month high of $242.23.

VeriSign (NASDAQ:VRSN - Get Free Report) last released its quarterly earnings data on Thursday, February 6th. The information services provider reported $2.00 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%.

Insider Transactions at VeriSign

In other news, SVP John Calys sold 447 shares of the business's stock in a transaction dated Monday, February 24th. The shares were sold at an average price of $231.75, for a total transaction of $103,592.25. Following the transaction, the senior vice president now owns 23,735 shares in the company, valued at approximately $5,500,586.25. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 0.84% of the company's stock.

Institutional Investors Weigh In On VeriSign

Institutional investors have recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in shares of VeriSign in the 4th quarter worth approximately $26,000. Whipplewood Advisors LLC acquired a new stake in VeriSign during the fourth quarter worth $26,000. Venturi Wealth Management LLC increased its holdings in VeriSign by 127.2% in the 4th quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider's stock valued at $38,000 after buying an additional 103 shares during the period. BankPlus Trust Department acquired a new position in shares of VeriSign in the 4th quarter valued at $49,000. Finally, Spire Wealth Management lifted its holdings in shares of VeriSign by 69.8% during the 4th quarter. Spire Wealth Management now owns 253 shares of the information services provider's stock worth $52,000 after acquiring an additional 104 shares during the period. 92.90% of the stock is owned by institutional investors and hedge funds.

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.