VeriSign Inc. (VRSN) Sees Strong Trading Volume
VeriSign Inc. (NASDAQ:VRSN) shares saw an uptick in trading volume on Tuesday . 1,759,211 shares were traded during trading, an increase of 99% from the previous session’s volume of 886,118 shares.The stock last traded at $77.74 and had previously closed at $81.81.
A number of research firms have commented on VRSN. JPMorgan Chase & Co. lifted their target price on shares of VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a report on Friday, July 29th. Zacks Investment Research lowered shares of VeriSign from a “buy” rating to a “hold” rating in a report on Wednesday, June 29th.
The stock has a market capitalization of $8.11 billion and a P/E ratio of 24.20. The stock’s 50-day moving average is $84.20 and its 200 day moving average is $84.97.
VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.91 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The firm had revenue of $286 million for the quarter, compared to analyst estimates of $284.34 million. The business’s revenue was up 9.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.74 EPS. On average, equities research analysts expect that VeriSign Inc. will post $3.49 earnings per share for the current fiscal year.
In related news, Director Timothy Tomlinson sold 1,477 shares of the stock in a transaction that occurred on Tuesday, August 2nd. The shares were sold at an average price of $85.30, for a total transaction of $125,988.10. The transaction was disclosed in a document filed with the SEC, which is accessible through this link.
A number of institutional investors recently modified their holdings of the stock. 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 valued at $1,197,000 after buying an additional 1,581 shares during the last quarter. 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 valued at $1,186,000 after buying an additional 1,607 shares during the last quarter. 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 valued at $5,493,000 after buying an additional 1,711 shares during the last quarter. BlackRock Advisors LLC increased its position in shares of VeriSign by 1.9% in the fourth quarter. BlackRock Advisors LLC now owns 290,745 shares of the company’s stock valued at $25,400,000 after buying an additional 5,340 shares during the last quarter. Finally, Trexquant Investment LP bought a new position in shares of VeriSign during the fourth quarter valued at approximately $1,354,000.
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.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.