Traders Buy VeriSign Inc. (VRSN) on Weakness
Investors purchased shares of VeriSign Inc. (NASDAQ:VRSN) on weakness during trading on Tuesday. $85.77 million flowed into the stock on the tick-up and $50.54 million flowed out of the stock on the tick-down, for a money net flow of $35.23 million into the stock. Of all companies tracked, VeriSign had the 11th highest net in-flow for the day. VeriSign traded down ($5.84) for the day and closed at $75.97
Several research analysts have recently issued reports on VRSN shares. Zacks Investment Research downgraded shares of VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday, June 29th. JPMorgan Chase & Co. upped their target price on shares of VeriSign from $84.00 to $88.00 and gave the stock an “underweight” rating in a research note on Friday, July 29th.
The stock has a market cap of $8.11 billion and a PE ratio of 24.20. The stock has a 50-day moving average of $84.06 and a 200 day moving average of $84.98.
VeriSign (NASDAQ:VRSN) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.91 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.86 by $0.05. The company earned $286 million during the quarter, compared to analysts’ expectations of $284.34 million. During the same period in the prior year, the business earned $0.74 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. Analysts forecast that VeriSign Inc. will post $3.49 EPS for the current year.
In related news, Director Timothy Tomlinson sold 1,477 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The shares were sold at an average price of $85.30, for a total value of $125,988.10. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
A number of hedge funds and institutional investors recently bought and sold shares of VRSN. Stephens Inc. AR increased its position in 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 in the last quarter. Suntrust Banks Inc. increased its position in 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 in the last quarter. Schroder Investment Management Group increased its position in VeriSign by 10.2% in the fourth quarter. Schroder Investment Management Group now owns 271,628 shares of the company’s stock valued at $23,730,000 after buying an additional 25,073 shares in the last quarter. Matarin Capital Management LLC bought a new position in VeriSign during the fourth quarter valued at approximately $4,562,000. Finally, BlackRock Advisors LLC increased its position in 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 in 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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