VeriFone Systems Inc. (NYSE:PAY) was 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. The stock had previously closed at $19.05.

PAY has been the topic of several recent analyst reports. Wedbush restated an “outperform” rating and issued a $30.00 target price on shares of VeriFone Systems in a research note on Friday, June 17th. Compass Point downgraded shares of VeriFone Systems from a “buy” rating to a “neutral” rating and reduced their target price for the company from $34.00 to $23.00 in a research note on Wednesday, June 8th. Barclays PLC downgraded shares of VeriFone Systems from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $37.00 to $23.00 in a research note on Wednesday, June 8th. SunTrust Banks Inc. reduced their target price on shares of VeriFone Systems from $37.00 to $24.00 and set a “buy” rating on the stock in a research note on Wednesday, June 8th. Finally, Royal Bank Of Canada reduced their target price on shares of VeriFone Systems from $33.00 to $28.00 and set a “sector perform” rating on the stock in a research note on Wednesday, June 8th. One research analyst has rated the stock with a sell rating, ten have given a hold rating, eleven have assigned a buy rating and one has given a strong buy rating to the company’s stock. VeriFone Systems has an average rating of “Buy” and a consensus price target of $29.52.

The firm has a market capitalization of $2.14 billion and a price-to-earnings ratio of 29.609. The stock’s 50-day moving average is $19.11 and its 200 day moving average is $24.19.

VeriFone Systems (NYSE:PAY) last released its quarterly earnings data on Tuesday, June 7th. The company reported $0.47 earnings per share for the quarter, missing the consensus estimate of $0.52 by $0.05. During the same quarter in the previous year, the business earned $0.44 earnings per share. The company earned $532 million during the quarter, compared to analyst estimates of $530.07 million. The firm’s quarterly revenue was up 8.6% compared to the same quarter last year. Equities research analysts anticipate that VeriFone Systems Inc. will post $1.85 earnings per share for the current fiscal year.

Other hedge funds have recently made changes to their positions in the company. Whittier Trust Co. raised its stake in shares of VeriFone Systems by 0.6% in the fourth quarter. Whittier Trust Co. now owns 46,208 shares of the company’s stock worth $1,295,000 after buying an additional 264 shares during the last quarter. 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. 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. Buckhead Capital Management LLC raised its stake in shares of VeriFone Systems by 4.4% in the fourth quarter. Buckhead Capital Management LLC now owns 120,166 shares of the company’s stock worth $3,367,000 after buying an additional 5,011 shares during the last quarter. Finally, Carleon Capital Partners LLC purchased a new stake in shares of VeriFone Systems during the fourth quarter worth approximately $3,925,000.

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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