VeriFone Systems Inc. (PAY) Shares Up 1.9%
VeriFone Systems Inc. (NYSE:PAY) shot up 1.9% during mid-day trading on Friday . The stock traded as high as $19.53 and last traded at $19.19, with a volume of 1,748,289 shares trading hands. The stock had previously closed at $18.83.
Several brokerages recently issued reports on PAY. Deutsche Bank AG cut their price target on VeriFone Systems from $29.00 to $19.00 and set a “hold” rating for the company in a research note on Wednesday, June 8th. Piper Jaffray Cos. reiterated a “buy” rating and issued a $38.00 price target on shares of VeriFone Systems in a research note on Wednesday, June 1st. JPMorgan Chase & Co. cut VeriFone Systems from an “overweight” rating to a “neutral” rating and cut their price target for the company from $34.00 to $24.00 in a research note on Wednesday, June 8th. Zacks Investment Research cut VeriFone Systems from a “buy” rating to a “hold” rating in a research note on Wednesday, May 11th. Finally, Imperial Capital cut their target price on VeriFone Systems from $32.00 to $24.00 and set an “outperform” rating for the company in a research note on Monday, June 20th. Eleven equities research analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The company currently has an average rating of “Buy” and a consensus target price of $29.52.
The firm has a market capitalization of $2.13 billion and a PE ratio of 29.56. The firm has a 50 day moving average price of $18.90 and a 200 day moving average price of $23.67.
VeriFone Systems (NYSE:PAY) last posted its quarterly earnings data on Tuesday, June 7th. The company reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.52 by $0.05. During the same period in the prior year, the company earned $0.44 earnings per share. The firm had revenue of $532 million for the quarter, compared to the consensus estimate of $530.07 million. The business’s revenue was up 8.6% compared to the same quarter last year. Analysts predict that VeriFone Systems Inc. will post $1.85 earnings per share for the current year.
Several hedge funds recently bought and sold shares of the company. BNP Paribas Arbitrage SA increased its stake in 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 in the last quarter. Systematic Financial Management LP increased its stake in 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 in the last quarter. Wells Fargo & Company MN increased its stake in VeriFone Systems by 73.0% in the fourth quarter. Wells Fargo & Company MN now owns 740,790 shares of the company’s stock worth $20,756,000 after buying an additional 312,558 shares in the last quarter. Finally, Morgan Stanley increased its stake in VeriFone Systems by 13.2% in the fourth quarter. Morgan Stanley now owns 804,392 shares of the company’s stock worth $22,538,000 after buying an additional 93,909 shares in 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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