Short Interest in VeriSign Inc. (VRSN) Decreases By 7.3%
VeriSign Inc. (NASDAQ:VRSN) was the recipient of a large decline in short interest during the month of October. As of October 31st, there was short interest totalling 15,870,450 shares, a decline of 7.3% from the October 14th total of 17,112,993 shares. Based on an average daily trading volume, of 1,199,231 shares, the short-interest ratio is presently 13.2 days. Approximately 15.1% of the company’s stock are sold short.
A number of hedge funds and other institutional investors have recently modified their holdings of VRSN. Global X Management Co. LLC raised its position in shares of VeriSign by 76.1% in the second quarter. Global X Management Co. LLC now owns 1,166 shares of the company’s stock valued at $101,000 after buying an additional 504 shares in the last quarter. Tower Research Capital LLC TRC raised its position in shares of VeriSign by 22.1% in the second quarter. Tower Research Capital LLC TRC now owns 1,215 shares of the company’s stock valued at $105,000 after buying an additional 220 shares in the last quarter. Mizuho Asset Management Co. Ltd. raised its position in shares of VeriSign by 112.0% in the second quarter. Mizuho Asset Management Co. Ltd. now owns 1,327 shares of the company’s stock valued at $115,000 after buying an additional 701 shares in the last quarter. Pinkerton Retirement Specialists LLC bought a new position in shares of VeriSign during the second quarter valued at about $123,000. Finally, Quadrant Capital Group LLC raised its position in shares of VeriSign by 1.0% in the second quarter. Quadrant Capital Group LLC now owns 1,656 shares of the company’s stock valued at $140,000 after buying an additional 17 shares in the last quarter.
Several brokerages have issued reports on VRSN. Zacks Investment Research lowered shares of VeriSign from a “buy” rating to a “hold” rating in a research note on Wednesday, September 28th. Citigroup Inc. reiterated a “sell” rating and issued a $70.00 price target on shares of VeriSign in a research note on Friday, September 23rd. 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 note on Friday, July 29th. Finally, Cowen and Company reiterated a “market perform” rating and issued a $80.00 price target on shares of VeriSign in a research note on Tuesday, September 6th.
VeriSign (NASDAQ:VRSN) opened at 81.36 on Friday. The firm has a market capitalization of $8.51 billion, a price-to-earnings ratio of 24.37 and a beta of 1.23. VeriSign has a 1-year low of $70.26 and a 1-year high of $93.94. The stock’s 50 day moving average is $79.04 and its 200 day moving average is $81.63.
VeriSign (NASDAQ:VRSN) last posted its quarterly earnings data on Thursday, October 27th. The company reported $0.93 EPS for the quarter, beating the Zacks’ consensus estimate of $0.87 by $0.06. The company had revenue of $287.60 million for the quarter, compared to analyst estimates of $287.08 million. VeriSign had a net margin of 38.69% and a negative return on equity of 37.72%. The company’s quarterly revenue was up 8.2% on a year-over-year basis. During the same period in the prior year, the firm posted $0.78 EPS. Analysts predict that VeriSign will post $3.55 EPS for the current fiscal year.
VeriSign Company Profile
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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