VeriSign Inc. (VRSN) Sees Unusually-High Trading Volume
VeriSign Inc. (NASDAQ:VRSN) shares saw strong trading volume on Tuesday . 1,759,211 shares changed hands 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 equities research analysts have weighed in on the stock. Zacks Investment Research cut shares of VeriSign from a “buy” rating to a “hold” rating in a research report on Wednesday, June 29th. JPMorgan Chase & Co. lifted their price target on shares of VeriSign from $84.00 to $88.00 and gave the company an “underweight” rating in a research report on Friday, July 29th.
The firm has a market capitalization of $7.98 billion and a price-to-earnings ratio of 23.81. The company’s 50-day moving average is $83.84 and its 200-day moving average is $84.91.
VeriSign (NASDAQ:VRSN) last released its quarterly earnings data on Thursday, July 28th. The company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.86 by $0.05. During the same quarter in the prior year, the firm earned $0.74 earnings per share. The business earned $286 million during the quarter, compared to analysts’ expectations of $284.34 million. VeriSign’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities research analysts expect that VeriSign Inc. will post $3.49 EPS for the current year.
In related news, Director Timothy Tomlinson sold 1,477 shares of the business’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 document filed with the SEC, which is available through this link.
Several large investors have added to or reduced their stakes in VRSN. Stephens Inc. AR raised its stake 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. raised its stake 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 raised its stake 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 acquired a new stake in VeriSign during the fourth quarter valued at approximately $4,562,000. Finally, BlackRock Advisors LLC raised its stake 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.
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.