Short Interest in Verisign, Inc. (NASDAQ:VRSN) Rises By 10.2%

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Verisign, Inc. (NASDAQ:VRSN) saw a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 1,400,000 shares, an increase of 10.2% from the August 30th total of 1,270,000 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily volume of 612,200 shares, the short-interest ratio is presently 2.3 days.

Several analysts have commented on VRSN shares. ValuEngine lowered Verisign from a “buy” rating to a “hold” rating in a report on Wednesday, October 2nd. BidaskClub raised Verisign from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Robert W. Baird raised their price objective on Verisign from $210.00 to $240.00 and gave the company an “outperform” rating in a report on Friday, July 26th. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $204.75.

In other Verisign news, Director Timothy Tomlinson sold 575 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $213.50, for a total value of $122,762.50. Following the sale, the director now directly owns 34,251 shares of the company’s stock, valued at $7,312,588.50. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 1.20% of the stock is currently owned by company insiders.

Several large investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its stake in shares of Verisign by 0.9% in the second quarter. Vanguard Group Inc. now owns 11,556,414 shares of the information services provider’s stock worth $2,417,141,000 after acquiring an additional 100,878 shares during the last quarter. BlackRock Inc. lifted its position in Verisign by 2.2% during the second quarter. BlackRock Inc. now owns 9,860,382 shares of the information services provider’s stock worth $2,062,398,000 after buying an additional 214,629 shares in the last quarter. Renaissance Technologies LLC lifted its position in Verisign by 4.9% during the second quarter. Renaissance Technologies LLC now owns 7,688,276 shares of the information services provider’s stock worth $1,608,080,000 after buying an additional 357,400 shares in the last quarter. Invesco Ltd. lifted its position in Verisign by 2.1% during the second quarter. Invesco Ltd. now owns 1,741,951 shares of the information services provider’s stock worth $364,346,000 after buying an additional 35,178 shares in the last quarter. Finally, FMR LLC lifted its position in Verisign by 3.9% during the first quarter. FMR LLC now owns 1,585,016 shares of the information services provider’s stock worth $287,776,000 after buying an additional 60,107 shares in the last quarter. 91.58% of the stock is currently owned by hedge funds and other institutional investors.

VRSN traded up $1.26 during trading on Tuesday, hitting $187.01. The company’s stock had a trading volume of 7,368 shares, compared to its average volume of 654,017. Verisign has a twelve month low of $131.28 and a twelve month high of $221.78. The business’s fifty day simple moving average is $192.84 and its 200 day simple moving average is $199.53. The firm has a market capitalization of $22.08 billion, a price-to-earnings ratio of 39.38 and a beta of 1.05.

Verisign (NASDAQ:VRSN) last issued its quarterly earnings data on Thursday, July 25th. The information services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.18 by $0.06. The company had revenue of $306.29 million for the quarter, compared to analyst estimates of $306.57 million. Verisign had a negative return on equity of 43.63% and a net margin of 51.38%. Verisign’s quarterly revenue was up 1.3% compared to the same quarter last year. During the same period last year, the company earned $1.18 earnings per share. Equities research analysts forecast that Verisign will post 4.98 earnings per share for the current year.

About Verisign

VeriSign, Inc provides domain name registry services and Internet infrastructure in the United States and internationally. The company offers registry services that operate the authoritative directory of and/or the back-end systems for .com, .net, .cc, .tv, .gov, .jobs, .edu, .name, and other domain names.

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