Verisign (VRSN) Upgraded by ValuEngine to “Strong-Buy”

ValuEngine upgraded shares of Verisign (NASDAQ:VRSN) from a buy rating to a strong-buy rating in a research note released on Tuesday.

VRSN has been the subject of several other reports. JPMorgan Chase & Co. raised shares of Verisign from an underweight rating to a neutral rating and increased their target price for the stock from $125.00 to $160.00 in a report on Friday, November 2nd. Citigroup increased their target price on shares of Verisign from $152.00 to $155.00 and gave the stock a neutral rating in a report on Friday, November 2nd. Zacks Investment Research raised shares of Verisign from a hold rating to a buy rating and set a $164.00 target price for the company in a report on Monday, December 31st. BidaskClub raised shares of Verisign from a hold rating to a buy rating in a report on Tuesday, January 29th. Finally, Robert W. Baird raised shares of Verisign from a neutral rating to an outperform rating and increased their target price for the stock from $160.00 to $170.00 in a report on Friday, November 2nd. Four research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $167.00.

Shares of NASDAQ:VRSN opened at $174.29 on Tuesday. Verisign has a fifty-two week low of $109.20 and a fifty-two week high of $176.76. The stock has a market capitalization of $21.07 billion, a price-to-earnings ratio of 36.69 and a beta of 1.00.

Verisign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, February 7th. The information services provider reported $1.58 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.21 by $0.37. The firm had revenue of $307.45 million during the quarter, compared to analyst estimates of $308.64 million. Verisign had a net margin of 47.94% and a negative return on equity of 42.50%. The business’s revenue for the quarter was up 4.0% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.96 EPS. As a group, equities analysts forecast that Verisign will post 4.76 earnings per share for the current year.

In other Verisign news, EVP Thomas C. Indelicarto sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, December 6th. The stock was sold at an average price of $150.81, for a total value of $497,673.00. Following the completion of the transaction, the executive vice president now directly owns 55,871 shares in the company, valued at approximately $8,425,905.51. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 1.35% of the company’s stock.

A number of hedge funds have recently bought and sold shares of VRSN. Capital International Investors bought a new position in Verisign in the 3rd quarter worth approximately $991,190,000. Oregon Public Employees Retirement Fund boosted its stake in Verisign by 41,120.7% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 3,763,452 shares of the information services provider’s stock worth $25,000 after purchasing an additional 3,754,322 shares during the period. Vanguard Group Inc boosted its stake in Verisign by 4.5% in the 3rd quarter. Vanguard Group Inc now owns 11,368,270 shares of the information services provider’s stock worth $1,820,286,000 after purchasing an additional 485,685 shares during the period. Vanguard Group Inc. boosted its stake in Verisign by 4.5% in the 3rd quarter. Vanguard Group Inc. now owns 11,368,270 shares of the information services provider’s stock worth $1,820,286,000 after purchasing an additional 485,685 shares during the period. Finally, Cantillon Capital Management LLC boosted its stake in Verisign by 41.3% in the 4th quarter. Cantillon Capital Management LLC now owns 1,562,701 shares of the information services provider’s stock worth $231,733,000 after purchasing an additional 456,587 shares during the period. Institutional investors and hedge funds own 95.81% of the company’s stock.

About Verisign

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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