Verisign (VRSN) Reaches New 52-Week High at $191.20

Verisign, Inc. (NASDAQ:VRSN) shares reached a new 52-week high during trading on Monday . The stock traded as high as $191.20 and last traded at $189.09, with a volume of 9808 shares traded. The stock had previously closed at $189.60.

VRSN has been the topic of several recent analyst reports. Zacks Investment Research upgraded Verisign from a “hold” rating to a “buy” rating and set a $164.00 price target on the stock in a research note on Monday, December 31st. BidaskClub upgraded Verisign from a “hold” rating to a “buy” rating in a research note on Tuesday, January 29th. ValuEngine upgraded Verisign from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, February 12th. Finally, Citigroup reiterated a “neutral” rating and issued a $195.00 price target (up previously from $175.00) on shares of Verisign in a research note on Tuesday, March 5th. Four investment analysts have rated the stock with a hold rating, one has assigned a buy rating and two have issued a strong buy rating to the stock. The company has an average rating of “Buy” and an average target price of $175.00.

The company has a market capitalization of $22.57 billion, a P/E ratio of 39.75 and a beta of 1.07.

Verisign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, February 7th. The information services provider reported $1.58 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.21 by $0.37. The business had revenue of $307.45 million for the quarter, compared to analysts’ expectations of $308.64 million. Verisign had a negative return on equity of 42.50% and a net margin of 47.94%. The company’s revenue was up 4.0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.96 earnings per share. Sell-side analysts forecast that Verisign, Inc. will post 4.75 earnings per share for the current year.

In other news, Director Timothy Tomlinson sold 580 shares of the company’s stock in a transaction that occurred on Tuesday, February 19th. The stock was sold at an average price of $175.12, for a total transaction of $101,569.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.35% of the stock is currently owned by corporate insiders.

Several large investors have recently bought and sold shares of VRSN. Oregon Public Employees Retirement Fund grew its holdings in shares of Verisign by 41,120.7% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 3,763,452 shares of the information services provider’s stock valued at $25,000 after purchasing an additional 3,754,322 shares during the last quarter. Athena Capital Advisors LLC bought a new position in shares of Verisign during the fourth quarter valued at approximately $39,000. Bessemer Group Inc. grew its holdings in shares of Verisign by 43.5% during the fourth quarter. Bessemer Group Inc. now owns 277 shares of the information services provider’s stock valued at $41,000 after purchasing an additional 84 shares during the last quarter. Signet Investment Advisory Group Inc. bought a new position in shares of Verisign during the fourth quarter valued at approximately $44,000. Finally, Sage Capital Advisors llc bought a new position in shares of Verisign during the fourth quarter valued at approximately $62,000. 94.04% of the stock is owned by institutional investors.

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Verisign Company Profile (NASDAQ:VRSN)

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

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