Verisign (VRSN) Downgraded to “Hold” at BidaskClub
Verisign (NASDAQ:VRSN) was downgraded by equities researchers at BidaskClub from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Thursday.
Several other equities research analysts have also recently weighed in on the company. Citigroup boosted their target price on Verisign from $101.00 to $111.00 and gave the stock a “neutral” rating in a research note on Friday, October 27th. Zacks Investment Research upgraded Verisign from a “sell” rating to a “hold” rating in a research note on Tuesday, December 26th. Cowen restated a “hold” rating and set a $103.00 target price on shares of Verisign in a research note on Sunday, October 29th. Finally, Robert W. Baird set a $105.00 target price on Verisign and gave the stock a “hold” rating in a research note on Friday, October 6th. Five analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and an average price target of $106.33.
Verisign (NASDAQ VRSN) traded up $0.27 during mid-day trading on Thursday, reaching $112.23. The company had a trading volume of 745,077 shares, compared to its average volume of 884,384. The stock has a market capitalization of $11,060.00, a PE ratio of 30.33 and a beta of 1.04. Verisign has a 12-month low of $78.72 and a 12-month high of $118.28. The company has a debt-to-equity ratio of -1.45, a quick ratio of 1.57 and a current ratio of 1.57.
Hedge funds have recently bought and sold shares of the stock. Jaffetilchin Investment Partners LLC acquired a new position in Verisign during the fourth quarter worth approximately $600,000. Parametric Portfolio Associates LLC increased its position in Verisign by 1.4% during the third quarter. Parametric Portfolio Associates LLC now owns 413,642 shares of the information services provider’s stock worth $44,007,000 after buying an additional 5,573 shares during the period. AXA increased its position in Verisign by 992.5% during the third quarter. AXA now owns 150,253 shares of the information services provider’s stock worth $15,985,000 after buying an additional 136,500 shares during the period. Visionary Asset Management Inc. acquired a new position in Verisign during the third quarter worth approximately $200,000. Finally, Public Employees Retirement System of Ohio increased its position in Verisign by 1.8% during the third quarter. Public Employees Retirement System of Ohio now owns 40,546 shares of the information services provider’s stock worth $4,314,000 after buying an additional 732 shares during the period.
Verisign Company Profile
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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