Matarin Capital Management LLC acquired a new position in shares of Verisign (NASDAQ:VRSN) in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 42,625 shares of the information services provider’s stock, valued at approximately $5,054,000.
Other institutional investors also recently made changes to their positions in the company. Silvant Capital Management LLC acquired a new stake in shares of Verisign during the first quarter worth $126,000. Twin Tree Management LP acquired a new stake in shares of Verisign during the fourth quarter worth $172,000. Mckinley Capital Management LLC Delaware acquired a new stake in shares of Verisign during the fourth quarter worth $177,000. QUANTRES ASSET MANAGEMENT Ltd acquired a new stake in shares of Verisign during the first quarter worth $213,000. Finally, Candriam Luxembourg S.C.A. acquired a new stake in shares of Verisign during the fourth quarter worth $208,000.
Several research firms have weighed in on VRSN. BidaskClub lowered Verisign from a “strong-buy” rating to a “buy” rating in a report on Wednesday, May 2nd. Zacks Investment Research lowered Verisign from a “strong-buy” rating to a “hold” rating in a report on Tuesday, May 1st. Citigroup lifted their target price on Verisign from $111.00 to $123.00 and gave the stock a “neutral” rating in a report on Monday, April 30th. ValuEngine upgraded Verisign from a “hold” rating to a “buy” rating in a report on Thursday, March 1st. Finally, JPMorgan Chase & Co. lifted their target price on Verisign to $106.00 and gave the stock an “underweight” rating in a report on Monday, February 26th. 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. The company has an average rating of “Hold” and an average price target of $113.80.
Verisign opened at $128.17 on Friday, Marketbeat reports. The company has a debt-to-equity ratio of -1.44, a quick ratio of 1.55 and a current ratio of 1.55. The stock has a market cap of $12.44 billion, a price-to-earnings ratio of 34.83 and a beta of 0.87. Verisign has a 1-year low of $89.88 and a 1-year high of $129.00.
Verisign (NASDAQ:VRSN) last posted its earnings results on Thursday, April 26th. The information services provider reported $1.07 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.06 by $0.01. The firm had revenue of $299.29 million for the quarter, compared to analyst estimates of $298.00 million. Verisign had a negative return on equity of 37.57% and a net margin of 40.41%. The company’s revenue for the quarter was up 3.7% on a year-over-year basis. During the same period in the previous year, the company posted $0.96 earnings per share. analysts predict that Verisign will post 4.28 earnings per share for the current year.
Verisign announced that its Board of Directors has approved a share repurchase plan on Thursday, February 8th that permits the company to repurchase $586.00 million in outstanding shares. This repurchase authorization permits the information services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board of directors believes its stock is undervalued.
Verisign Company Profile
VeriSign, Inc provides domain name registry services and Internet security worldwide. The company offers registry services that operate the authoritative directory of .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names. Its registry services allow individuals and organizations to establish their online identities.
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