VeriSign, Inc. (NASDAQ:VRSN - Get Free Report) hit a new 52-week high during trading on Tuesday . The company traded as high as $247.30 and last traded at $245.36, with a volume of 832186 shares changing hands. The stock had previously closed at $244.51.
Wall Street Analyst Weigh In
VRSN has been the subject of several research reports. Baird R W upgraded shares of VeriSign from a "hold" rating to a "strong-buy" rating in a research note on Monday, December 9th. StockNews.com lowered shares of VeriSign from a "buy" rating to a "hold" rating in a report on Friday, March 21st. Citigroup lifted their price objective on 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 upgraded VeriSign from a "neutral" rating to an "outperform" rating and upped their target price for the stock from $200.00 to $250.00 in a research note on Monday, December 9th.
Get Our Latest Report on VeriSign
VeriSign Price Performance
The company has a market cap of $23.74 billion, a PE ratio of 31.37 and a beta of 0.87. The business's fifty day simple moving average is $229.56 and its two-hundred day simple moving average is $203.91.
VeriSign (NASDAQ:VRSN - Get Free Report) last posted its quarterly earnings data on Thursday, February 6th. The information services provider reported $2.00 earnings per share for the quarter, hitting analysts' consensus estimates 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 company's stock in a transaction that occurred on Monday, February 24th. The stock was sold at an average price of $231.75, for a total value of $103,592.25. Following the completion of the sale, the senior vice president now directly owns 23,735 shares in the company, valued at $5,500,586.25. This represents a 1.85 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders own 0.84% of the company's stock.
Hedge Funds Weigh In On VeriSign
A number of institutional investors have recently added to or reduced their stakes in the stock. Connor Clark & Lunn Investment Management Ltd. boosted its position in shares of VeriSign by 186.2% during the 3rd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 3,620 shares of the information services provider's stock valued at $688,000 after acquiring an additional 2,355 shares during the last quarter. Cerity Partners LLC boosted its holdings in VeriSign by 198.3% in the 3rd quarter. Cerity Partners LLC now owns 27,240 shares of the information services provider's stock valued at $5,174,000 after purchasing an additional 18,108 shares during the last quarter. Algert Global LLC grew its stake in shares of VeriSign by 18.5% in the 3rd quarter. Algert Global LLC now owns 3,655 shares of the information services provider's stock valued at $694,000 after buying an additional 570 shares during the period. Daiwa Securities Group Inc. increased its holdings in shares of VeriSign by 8.3% during the 3rd quarter. Daiwa Securities Group Inc. now owns 12,229 shares of the information services provider's stock worth $2,323,000 after buying an additional 942 shares during the last quarter. Finally, Brooklyn Investment Group purchased a new stake in shares of VeriSign during the 3rd quarter valued at approximately $138,000. Hedge funds and other institutional investors own 92.90% of the company's stock.
VeriSign Company Profile
(
Get Free Report)
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.
Further Reading
Before you consider VeriSign, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and VeriSign wasn't on the list.
While VeriSign currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering what the next stocks will be that hit it big, with solid fundamentals? Enter your email address to see which stocks MarketBeat analysts could become the next blockbuster growth stocks.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
