Physician Wealth Advisors Inc. Buys Shares of 260 VeriSign, Inc. (NASDAQ:VRSN)

Physician Wealth Advisors Inc. purchased a new position in shares of VeriSign, Inc. (NASDAQ:VRSN) in the 4th quarter, according to the company in its most recent filing with the SEC. The fund purchased 260 shares of the information services provider’s stock, valued at approximately $54,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Crewe Advisors LLC bought a new position in VeriSign during the fourth quarter worth about $26,000. Whipplewood Advisors LLC acquired a new stake in shares of VeriSign in the 4th quarter valued at about $26,000. Venturi Wealth Management LLC lifted its holdings in shares of VeriSign by 127.2% in the fourth quarter. Venturi Wealth Management LLC now owns 184 shares of the information services provider’s stock valued at $38,000 after purchasing an additional 103 shares in the last quarter. BankPlus Trust Department acquired a new position in shares of VeriSign during the fourth quarter worth about $49,000. Finally, Spire Wealth Management increased its holdings in VeriSign by 69.8% during the fourth quarter. Spire Wealth Management now owns 253 shares of the information services provider’s stock worth $52,000 after buying an additional 104 shares during the last quarter. 92.90% of the stock is owned by institutional investors.

VeriSign Trading Up 1.2 %

VeriSign stock opened at $253.87 on Tuesday. The stock has a 50-day moving average price of $231.27 and a two-hundred day moving average price of $205.23. VeriSign, Inc. has a 12 month low of $167.05 and a 12 month high of $257.14. The company has a market capitalization of $24.02 billion, a PE ratio of 31.73 and a beta of 0.87.

VeriSign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, February 6th. The information services provider reported $2.00 earnings per share (EPS) for the quarter, meeting the consensus estimate of $2.00. VeriSign had a net margin of 50.47% and a negative return on equity of 43.01%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on VRSN shares. Citigroup lifted their target price on VeriSign from $246.00 to $250.00 and gave the stock a “buy” rating in a research note on Tuesday, February 4th. StockNews.com cut VeriSign from a “buy” rating to a “hold” rating in a research note on Friday, March 21st. Robert W. Baird upgraded shares of VeriSign from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $200.00 to $250.00 in a research report on Monday, December 9th. Finally, Baird R W upgraded VeriSign from a “hold” rating to a “strong-buy” rating in a research report on Monday, December 9th.

Insider Buying and Selling

In other VeriSign news, SVP John Calys sold 447 shares of the company’s stock in a transaction dated Monday, February 24th. The stock was sold at an average price of $231.75, for a total value of $103,592.25. Following the sale, the senior vice president now owns 23,735 shares in the company, valued at approximately $5,500,586.25. The trade was a 1.85 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 0.84% of the stock is owned by corporate insiders.

VeriSign 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.