VeriSign (NASDAQ:VRSN) Receives Neutral Rating from Robert W. Baird

Robert W. Baird reaffirmed their neutral rating on shares of VeriSign (NASDAQ:VRSN) in a research report report published on Thursday morning, Benzinga reports. The brokerage currently has a $200.00 price target on the information services provider’s stock.

Other analysts also recently issued reports about the company. StockNews.com downgraded VeriSign from a buy rating to a hold rating in a research note on Sunday, June 16th. Citigroup lowered their price objective on VeriSign from $237.00 to $236.00 and set a buy rating for the company in a research note on Tuesday, April 2nd.

VeriSign Stock Performance

Shares of NASDAQ:VRSN opened at $178.23 on Thursday. The business’s 50-day simple moving average is $175.73 and its 200 day simple moving average is $189.69. The company has a market cap of $17.75 billion, a P/E ratio of 21.90 and a beta of 0.91. VeriSign has a one year low of $167.04 and a one year high of $226.80.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, April 25th. The information services provider reported $1.92 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.06. The company had revenue of $384.30 million for the quarter, compared to analyst estimates of $381.85 million. VeriSign had a net margin of 55.04% and a negative return on equity of 47.21%. The business’s quarterly revenue was up 5.5% on a year-over-year basis. During the same quarter last year, the firm posted $1.70 earnings per share.

Insider Transactions at VeriSign

In related news, EVP Danny R. Mcpherson sold 1,200 shares of VeriSign stock in a transaction dated Friday, May 17th. The stock was sold at an average price of $170.14, for a total value of $204,168.00. Following the completion of the transaction, the executive vice president now directly owns 29,181 shares in the company, valued at $4,964,855.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, EVP Danny R. Mcpherson sold 1,200 shares of the company’s stock in a transaction that occurred on Friday, May 17th. The stock was sold at an average price of $170.14, for a total transaction of $204,168.00. Following the sale, the executive vice president now directly owns 29,181 shares of the company’s stock, valued at approximately $4,964,855.34. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, EVP Thomas C. Indelicarto sold 614 shares of VeriSign stock in a transaction on Thursday, April 11th. The stock was sold at an average price of $190.00, for a total transaction of $116,660.00. Following the completion of the transaction, the executive vice president now directly owns 41,955 shares of the company’s stock, valued at approximately $7,971,450. The disclosure for this sale can be found here. In the last 90 days, insiders sold 3,295 shares of company stock valued at $584,887. Insiders own 0.84% of the company’s stock.

Institutional Investors Weigh In On VeriSign

A number of institutional investors have recently modified their holdings of the business. Cary Street Partners Investment Advisory LLC grew its holdings in shares of VeriSign by 52.0% during the third quarter. Cary Street Partners Investment Advisory LLC now owns 152 shares of the information services provider’s stock valued at $31,000 after purchasing an additional 52 shares during the last quarter. Baldwin Brothers LLC MA grew its stake in VeriSign by 158.6% during the 4th quarter. Baldwin Brothers LLC MA now owns 181 shares of the information services provider’s stock worth $37,000 after buying an additional 111 shares during the last quarter. Quarry LP acquired a new stake in VeriSign in the fourth quarter worth $76,000. Neo Ivy Capital Management bought a new stake in VeriSign in the fourth quarter valued at $77,000. Finally, CX Institutional bought a new stake in VeriSign in the fourth quarter valued at $79,000. Institutional investors own 92.90% of the company’s stock.

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.