BidaskClub upgraded shares of Verisign (NASDAQ:VRSN) from a hold rating to a buy rating in a research note released on Saturday morning.

A number of other research analysts have also recently commented on VRSN. Citigroup increased their target price on Verisign from $101.00 to $111.00 and gave the company a neutral rating in a research note on Friday, October 27th. Cowen reissued a hold rating and issued a $103.00 target price on shares of Verisign in a research note on Sunday, October 29th. Finally, Zacks Investment Research cut Verisign from a hold rating to a sell rating in a research note on Wednesday, November 1st. Four research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. Verisign currently has an average rating of Hold and an average target price of $106.33.

Verisign (NASDAQ VRSN) opened at $111.03 on Friday. The firm has a market cap of $10,646.20, a price-to-earnings ratio of 29.77 and a beta of 0.92. Verisign has a 1-year low of $81.58 and a 1-year high of $118.28. The company has a debt-to-equity ratio of -1.41, a current ratio of 1.57 and a quick ratio of 1.57.

Verisign (NASDAQ:VRSN) last released its quarterly earnings results on Thursday, February 8th. The information services provider reported $0.96 earnings per share for the quarter, missing the consensus estimate of $0.97 by ($0.01). The firm had revenue of $295.50 million during the quarter, compared to the consensus estimate of $294.93 million. Verisign had a negative return on equity of 36.88% and a net margin of 39.25%. The company’s revenue for the quarter was up 3.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.92 EPS. research analysts expect that Verisign will post 3.9 EPS for the current year.

Verisign declared that its board has approved a share buyback 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 reacquire shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its shares are undervalued.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. increased its stake in Verisign by 2.3% in the fourth quarter. BlackRock Inc. now owns 8,531,215 shares of the information services provider’s stock valued at $976,313,000 after acquiring an additional 194,074 shares during the last quarter. Principal Financial Group Inc. increased its stake in Verisign by 5.7% in the third quarter. Principal Financial Group Inc. now owns 3,457,625 shares of the information services provider’s stock valued at $367,857,000 after acquiring an additional 187,012 shares during the last quarter. APG Asset Management N.V. increased its stake in Verisign by 76.3% in the fourth quarter. APG Asset Management N.V. now owns 2,054,186 shares of the information services provider’s stock valued at $195,770,000 after acquiring an additional 888,710 shares during the last quarter. Arrowstreet Capital Limited Partnership increased its stake in Verisign by 10.9% in the fourth quarter. Arrowstreet Capital Limited Partnership now owns 1,749,003 shares of the information services provider’s stock valued at $200,156,000 after acquiring an additional 171,859 shares during the last quarter. Finally, First Trust Advisors LP increased its stake in Verisign by 14.9% in the fourth quarter. First Trust Advisors LP now owns 1,370,201 shares of the information services provider’s stock valued at $156,806,000 after acquiring an additional 177,169 shares during the last quarter.

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About Verisign

VeriSign, Inc is a provider of domain name registry services and Internet security. The Company operates through Registry Services and Security Services segment. Registry Services ensure the security, stability and resiliency of Internet infrastructure and services, including the .com and .net domains, and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS).

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