VeriSign Inc. (VRSN) Sees Large Volume Increase
VeriSign Inc. (NASDAQ:VRSN) saw strong trading volume on Friday . 797,126 shares traded hands during trading, an increase of 12% from the previous session’s volume of 712,164 shares.The stock last traded at $85.54 and had previously closed at $83.40.
Separately, Zacks Investment Research lowered shares of VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and one has assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $86.80.
The stock has a 50 day moving average price of $84.67 and a 200-day moving average price of $84.22. The company has a market capitalization of $9.29 billion and a price-to-earnings ratio of 28.72.
VeriSign (NASDAQ:VRSN) last announced its quarterly earnings data on Thursday, April 28th. The company reported $0.85 EPS for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.02. The firm earned $281.90 million during the quarter, compared to analyst estimates of $277.77 million. During the same quarter in the previous year, the business earned $0.74 earnings per share. VeriSign’s revenue for the quarter was up 9.3% compared to the same quarter last year. On average, equities research analysts anticipate that VeriSign Inc. will post $3.49 EPS for the current fiscal year.
In related news, major shareholder Berkshire Hathaway Inc sold 32,255 shares of VeriSign stock in a transaction dated Friday, April 29th. The stock was sold at an average price of $89.30, for a total value of $2,880,371.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.
Other hedge funds have recently made changes to their positions in the company. Henderson Group PLC raised its stake in shares of VeriSign by 43.7% in the fourth quarter. Henderson Group PLC now owns 11,970 shares of the company’s stock worth $1,046,000 after buying an additional 3,638 shares during the last quarter. Victory Capital Management Inc. raised its stake in shares of VeriSign by 13.4% in the fourth quarter. Victory Capital Management Inc. now owns 13,574 shares of the company’s stock worth $1,186,000 after buying an additional 1,607 shares during the last quarter. Suntrust Banks Inc. raised its stake in shares of VeriSign by 13.0% in the fourth quarter. Suntrust Banks Inc. now owns 13,710 shares of the company’s stock worth $1,197,000 after buying an additional 1,581 shares during the last quarter. SECOR Capital Advisors LP purchased a new stake in shares of VeriSign during the fourth quarter worth approximately $1,199,000. Finally, Wedge Capital Management L L P NC raised its stake in shares of VeriSign by 3.8% in the fourth quarter. Wedge Capital Management L L P NC now owns 13,800 shares of the company’s stock worth $1,206,000 after buying an additional 500 shares during the last quarter.
VeriSign, Inc is a provider of domain name registry services and Internet security, enabling Internet navigation for domain names and providing protection for Websites and enterprises around the world (Registry Services). The Company operates in Registry Services and Security Services segment. Its product suite also includes Security Services consisting of Distributed Denial of Service (DDoS) Protection Services, Verisign iDefense Security Intelligence Services (iDefense) and Managed Domain Name System (Managed DNS) Services.
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