Verisign (NASDAQ:VRSN) was upgraded by investment analysts at ValuEngine from a “buy” rating to a “strong-buy” rating in a research note issued on Tuesday.

A number of other brokerages also recently weighed in on VRSN. Zacks Investment Research downgraded shares of Verisign from a “buy” rating to a “hold” rating in a report on Monday. BidaskClub raised shares of Verisign from a “hold” rating to a “buy” rating in a report on Tuesday, January 29th. Citigroup increased their price target on shares of Verisign from $152.00 to $155.00 and gave the stock a “neutral” rating in a report on Friday, November 2nd. Robert W. Baird upgraded shares of Verisign from a “neutral” rating to an “outperform” rating and upped their price objective for the stock from $160.00 to $170.00 in a research report on Friday, November 2nd. Finally, JPMorgan Chase & Co. upgraded shares of Verisign from an “underweight” rating to a “neutral” rating and increased their price target for the company from $125.00 to $160.00 in a research report on Friday, November 2nd. Four equities research analysts have rated the stock with a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. Verisign has an average rating of “Buy” and a consensus target price of $167.00.

Verisign stock opened at $174.28 on Tuesday. Verisign has a 12-month low of $110.00 and a 12-month high of $176.76. The firm has a market cap of $21.07 billion, a P/E ratio of 36.69 and a beta of 1.00.

Verisign (NASDAQ:VRSN) last announced its quarterly earnings results on Thursday, February 7th. The information services provider reported $1.58 EPS for the quarter, beating the Zacks’ consensus estimate of $1.21 by $0.37. The business 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%. Verisign’s quarterly revenue was up 4.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.96 EPS. Research analysts expect that Verisign will post 4.76 earnings per share for the current fiscal year.

In related news, EVP Thomas C. Indelicarto sold 3,300 shares of Verisign stock in a transaction dated 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 sale, 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 through this link. 1.35% of the stock is currently owned by company insiders.

Hedge funds have recently bought and sold shares of the company. DNB Asset Management AS increased its position in shares of Verisign by 21.2% during the 3rd quarter. DNB Asset Management AS now owns 12,421 shares of the information services provider’s stock valued at $1,989,000 after purchasing an additional 2,169 shares during the last quarter. Andra AP fonden raised its stake in Verisign by 12.9% in the third quarter. Andra AP fonden now owns 68,400 shares of the information services provider’s stock valued at $10,952,000 after buying an additional 7,800 shares during the last quarter. Gateway Investment Advisers LLC raised its stake in Verisign by 4.3% in the third quarter. Gateway Investment Advisers LLC now owns 142,542 shares of the information services provider’s stock valued at $22,824,000 after buying an additional 5,843 shares during the last quarter. Nisa Investment Advisors LLC increased its holdings in shares of Verisign by 43.6% in the third quarter. Nisa Investment Advisors LLC now owns 48,153 shares of the information services provider’s stock valued at $7,710,000 after purchasing an additional 14,620 shares during the period. Finally, Louisiana State Employees Retirement System increased its holdings in shares of Verisign by 10.5% in the third quarter. Louisiana State Employees Retirement System now owns 6,300 shares of the information services provider’s stock valued at $1,009,000 after purchasing an additional 600 shares during the period. 95.81% of the stock is currently owned by hedge funds and other institutional investors.

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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