Verisign (NASDAQ:VRSN) Stock Rating Upgraded by BidaskClub

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Verisign (NASDAQ:VRSN) was upgraded by analysts at BidaskClub from a “hold” rating to a “buy” rating in a research report issued on Tuesday, BidAskClub reports.

A number of other brokerages have also recently weighed in on VRSN. Zacks Investment Research raised shares of Verisign from a “hold” rating to a “buy” rating and set a $201.00 price target for the company in a research report on Sunday, November 3rd. ValuEngine lowered Verisign from a “buy” rating to a “hold” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Verisign presently has a consensus rating of “Buy” and an average target price of $212.00.

Verisign stock traded up $1.00 during trading on Tuesday, reaching $212.74. The company had a trading volume of 125,468 shares, compared to its average volume of 519,750. Verisign has a 12-month low of $159.60 and a 12-month high of $221.78. The stock’s 50 day moving average price is $194.97 and its two-hundred day moving average price is $197.74. The firm has a market capitalization of $24.86 billion, a price-to-earnings ratio of 44.79 and a beta of 1.01.

Verisign (NASDAQ:VRSN) last released its earnings results on Thursday, October 24th. The information services provider reported $1.36 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.31 by $0.05. Verisign had a net margin of 52.60% and a negative return on equity of 44.38%. The firm had revenue of $308.42 million during the quarter, compared to the consensus estimate of $308.34 million. During the same period in the previous year, the firm earned $1.23 earnings per share. Verisign’s revenue was up .9% compared to the same quarter last year. Equities analysts expect that Verisign will post 5.13 earnings per share for the current year.

In other news, Director Timothy Tomlinson sold 295 shares of the company’s stock in a transaction on Tuesday, October 29th. The shares were sold at an average price of $190.57, for a total value of $56,218.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.20% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Johanson Financial Advisors Inc. bought a new stake in shares of Verisign in the 4th quarter worth about $580,000. Allred Capital Management LLC bought a new stake in shares of Verisign in the 4th quarter worth about $42,000. Diversified Trust Co bought a new stake in shares of Verisign in the 4th quarter worth about $287,000. Maverick Capital Ltd. bought a new stake in shares of Verisign in the 3rd quarter worth about $4,800,000. Finally, Man Group plc increased its position in shares of Verisign by 11.3% in the 3rd quarter. Man Group plc now owns 648,640 shares of the information services provider’s stock worth $122,353,000 after purchasing an additional 65,745 shares during the last quarter. 90.87% of the stock is owned by hedge funds and other institutional investors.

Verisign Company Profile

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

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