VeriSign Inc. (NASDAQ:VRSN) shares dropped 1.3% on Monday . The company traded as low as $81.74 and last traded at $82.13, with a volume of 645,667 shares changing hands. The stock had previously closed at $83.25.

VRSN has been the topic of a number of research analyst reports. Zacks Investment Research downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. JPMorgan Chase & Co. increased their price target on shares of VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a research report on Friday, July 29th.

The firm has a market cap of $8.73 billion and a price-to-earnings ratio of 26.06. The firm has a 50-day moving average of $84.20 and a 200-day moving average of $84.97.

VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.86 by $0.05. During the same quarter in the prior year, the firm posted $0.74 EPS. The business earned $286 million during the quarter, compared to the consensus estimate of $284.34 million. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. Analysts predict that VeriSign Inc. will post $3.49 EPS for the current fiscal year.

In other news, Director Timothy Tomlinson sold 1,477 shares of VeriSign stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $85.30, for a total value of $125,988.10. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Several hedge funds and institutional investors have recently modified their holdings of VRSN. Victory Capital Management Inc. increased its position 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. increased its position 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. Trexquant Investment LP purchased a new position in shares of VeriSign during the fourth quarter worth about $1,354,000. Matarin Capital Management LLC purchased a new position in shares of VeriSign during the fourth quarter worth about $4,562,000. Finally, Stephens Inc. AR increased its position in shares of VeriSign by 2.8% in the fourth quarter. Stephens Inc. AR now owns 62,874 shares of the company’s stock worth $5,493,000 after buying an additional 1,711 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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