The stock of Verisign, Inc. (NASDAQ:VRSN) is a huge mover today! About 568,916 shares traded hands. Verisign, Inc. (NASDAQ:VRSN) has declined 7.40% since February 29, 2016 and is downtrending. It has underperformed by 19.61% the S&P500.
The move comes after 9 months positive chart setup for the $8.43 billion company. It was reported on Oct, 3 by Barchart.com. We have $131.88 PT which if reached, will make NASDAQ:VRSN worth $5.65 billion more.
Analysts await Verisign, Inc. (NASDAQ:VRSN) to report earnings on October, 27. They expect $0.79 EPS, up 9.72% or $0.07 from last year’s $0.72 per share. VRSN’s profit will be $84.37M for 24.98 P/E if the $0.79 EPS becomes a reality. After $0.87 actual EPS reported by Verisign, Inc. for the previous quarter, Wall Street now forecasts -9.20% negative EPS growth.
Verisign, Inc. (NASDAQ:VRSN) Ratings Coverage
Out of 4 analysts covering VeriSign (NASDAQ:VRSN), 1 rate it a “Buy”, 2 “Sell”, while 1 “Hold”. This means 25% are positive. VeriSign has been the topic of 8 analyst reports since July 27, 2015 according to StockzIntelligence Inc. The firm has “Buy” rating by Topeka Capital Markets given on Monday, July 27. The stock has “Sell” rating given by Citigroup on Tuesday, January 5. Cowen & Co maintained the stock with “Hold” rating in Friday, October 2 report.
According to Zacks Investment Research, “Verisign, a global leader in domain names and Internet security, enables Internet navigation for many of the world’s most recognized domain names and provides protection for websites and enterprises around the world. Verisign ensures the security, stability and resiliency of key Internet infrastructure and services, including the .com and .net domains and two of the Internet’s root servers, as well as performs the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS). Verisign’s Security Services include intelligence-driven Distributed Denial of Service Protection, iDefense Security Intelligence and Managed DNS.”
Insitutional Activity: The institutional sentiment increased to 0.07 in 2016 Q2. Its up 0.03, from 0.04 in 2016Q1. The ratio increased, as 41 funds sold all Verisign, Inc. shares owned while 0 reduced positions. 2 funds bought stakes while 1 increased positions. They now own 15.79 million shares or 13.09% more from 13.96 million shares in 2016Q1.
Bancorp Of New York Mellon Corporation has invested 0% of its portfolio in Verisign, Inc. (NASDAQ:VRSN). The Ontario – Canada-based Scotia has invested 0.61% in Verisign, Inc. (NASDAQ:VRSN). Canada Pension Plan Invest Board has 3.00M shares for 0.03% of their US portfolio. Pacad Ltd owns 55,412 shares or 0.66% of their US portfolio.
Insider Transactions: Since April 29, 2016, the stock had 0 insider purchases, and 2 selling transactions for $3.01 million net activity. TOMLINSON TIMOTHY sold $125,988 worth of stock. Another trade for 32,255 shares valued at $2.88M was sold by BERKSHIRE HATHAWAY INC.
Another recent and important Verisign, Inc. (NASDAQ:VRSN) news was published by Benzinga.com which published an article titled: “VeriSign Shares Trade Lower Courtesy Of Citi And The U.S. Senate” on September 22, 2016.
VRSN Company Profile
VeriSign, Inc., incorporated on April 12, 1995, is a well-known 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 Firm operates in Registry Services and Security Services segment. The Company’s 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. The Company’s Registry Services provides the security and resiliency of Internet infrastructure and services, including the .com and .net domains, approximately two of the Internet’s root servers, and operation of the root-zone maintainer functions for the core of the Internet’s Domain Name System (DNS). The Firm has activities inside, as well as outside the United States. The Company’s activities infrastructure consists of approximately three secure data centers in Dulles, Virginia; New Castle, Delaware; and Fribourg, Switzerland, as well as over 100 resolution sites around the world.
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