Verisign, Inc. (NASDAQ:VRSN) shares hit a new 52-week high during trading on Wednesday . The stock traded as high as $124.34 and last traded at $124.32, with a volume of 1134444 shares traded. The stock had previously closed at $120.51.
Several research analysts have recently commented on VRSN shares. Zacks Investment Research raised Verisign from a “sell” rating to a “hold” rating in a report on Tuesday, December 26th. BidaskClub lowered Verisign from a “buy” rating to a “hold” rating in a report on Thursday, January 11th. JPMorgan Chase & Co. boosted their price objective on Verisign to $106.00 and gave the stock an “underweight” rating in a report on Monday, February 26th. Finally, ValuEngine raised Verisign from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the company. Verisign currently has a consensus rating of “Hold” and a consensus target price of $106.25.
The company has a market capitalization of $11,677.77, a PE ratio of 33.12 and a beta of 0.89. The company has a quick ratio of 1.57, a current ratio of 1.57 and a debt-to-equity ratio of -1.41.
Verisign (NASDAQ:VRSN) last released its earnings results on Thursday, February 8th. The information services provider reported $0.96 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.97 by ($0.01). The firm had revenue of $295.50 million during the quarter, compared to the consensus estimate of $294.93 million. Verisign had a negative return on equity of 36.88% and a net margin of 39.25%. The business’s quarterly revenue was up 3.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.92 EPS. equities analysts predict that Verisign, Inc. will post 4.19 earnings per share for the current year.
Verisign announced that its board has authorized a share buyback program on Thursday, February 8th that permits the company to repurchase $586.00 million in shares. This repurchase authorization permits the information services provider to buy shares of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.
Large investors have recently added to or reduced their stakes in the stock. DekaBank Deutsche Girozentrale lifted its position in Verisign by 18.9% in the 3rd quarter. DekaBank Deutsche Girozentrale now owns 49,940 shares of the information services provider’s stock worth $5,001,000 after buying an additional 7,948 shares during the last quarter. Gruss Capital Management LP lifted its position in Verisign by 10.2% in the 3rd quarter. Gruss Capital Management LP now owns 920,000 shares of the information services provider’s stock worth $97,879,000 after buying an additional 85,000 shares during the last quarter. Janus Henderson Group PLC lifted its position in Verisign by 112.1% in the 3rd quarter. Janus Henderson Group PLC now owns 52,997 shares of the information services provider’s stock worth $5,638,000 after buying an additional 28,008 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in Verisign by 18.1% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 49,065 shares of the information services provider’s stock worth $5,220,000 after buying an additional 7,522 shares during the last quarter. Finally, Vident Investment Advisory LLC bought a new stake in Verisign in the 3rd quarter worth approximately $417,000.
Verisign Company Profile
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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