VeriFone Systems Inc. (PAY) Trading 1.2% Higher
VeriFone Systems Inc. (NYSE:PAY) traded up 1.2% on Monday . The company traded as high as $19.38 and last traded at $19.27, with a volume of 1,199,464 shares trading hands. The stock had previously closed at $19.05.
A number of equities research analysts recently weighed in on the company. Compass Point assumed coverage on VeriFone Systems in a research report on Friday, April 15th. They set a “buy” rating and a $34.00 price objective on the stock. Royal Bank Of Canada dropped their price objective on VeriFone Systems from $33.00 to $28.00 and set a “sector perform” rating on the stock in a research report on Wednesday, June 8th. Stifel Nicolaus dropped their price objective on VeriFone Systems from $40.00 to $26.00 and set a “buy” rating on the stock in a research report on Wednesday, June 8th. JPMorgan Chase & Co. downgraded VeriFone Systems from an “overweight” rating to a “neutral” rating and dropped their price objective for the company from $34.00 to $24.00 in a research report on Wednesday, June 8th. Finally, Goldman Sachs Group Inc. reaffirmed a “neutral” rating and set a $28.00 price objective (down previously from $31.00) on shares of VeriFone Systems in a research report on Wednesday, June 8th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the stock. VeriFone Systems presently has a consensus rating of “Buy” and a consensus price target of $29.52.
The firm has a market capitalization of $2.12 billion and a price-to-earnings ratio of 29.40. The company’s 50 day moving average price is $19.58 and its 200-day moving average price is $24.31.
VeriFone Systems (NYSE:PAY) last announced its earnings results on Tuesday, June 7th. The company reported $0.47 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by $0.05. The firm earned $532 million during the quarter, compared to analyst estimates of $530.07 million. During the same quarter last year, the firm posted $0.44 earnings per share. The business’s revenue was up 8.6% on a year-over-year basis. On average, equities analysts anticipate that VeriFone Systems Inc. will post $1.85 EPS for the current fiscal year.
Several hedge funds have made changes to their positions in PAY. BNP Paribas Arbitrage SA raised its stake in shares of VeriFone Systems by 45.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 151,137 shares of the company’s stock worth $4,235,000 after buying an additional 47,374 shares during the last quarter. Systematic Financial Management LP raised its stake in shares of VeriFone Systems by 639.2% in the fourth quarter. Systematic Financial Management LP now owns 74,660 shares of the company’s stock worth $2,091,000 after buying an additional 64,560 shares during the last quarter. Lapides Asset Management LLC raised its stake in shares of VeriFone Systems by 2.8% in the fourth quarter. Lapides Asset Management LLC now owns 752,700 shares of the company’s stock worth $21,091,000 after buying an additional 20,800 shares during the last quarter. Carleon Capital Partners LLC acquired a new stake in shares of VeriFone Systems during the fourth quarter worth about $3,925,000. Finally, Guinness Asset Management Ltd raised its stake in shares of VeriFone Systems by 3.6% in the fourth quarter. Guinness Asset Management Ltd now owns 73,240 shares of the company’s stock worth $2,052,000 after buying an additional 2,540 shares during the last quarter.
VeriFone Systems, Inc is engaged in providing electronic payment solutions at the point of sale (POS). The Company designs, manufactures, markets and supplies a range of payment solutions and complementary services that enable secure electronic payment transactions and value-added services at the POS.
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