Shares of VeriFone Systems Inc. (NYSE:PAY) were up 1.9% during mid-day trading on Friday . The stock traded as high as $19.74 and last traded at $19.63, with a volume of 1,085,293 shares traded. The stock had previously closed at $19.26.

PAY has been the topic of a number of research analyst reports. Zacks Investment Research lowered shares of VeriFone Systems from a “buy” rating to a “hold” rating in a research report on Wednesday, May 11th. Piper Jaffray Cos. restated a “buy” rating and issued a $38.00 target price on shares of VeriFone Systems in a research report on Wednesday, June 1st. Morgan Stanley restated a “hold” rating on shares of VeriFone Systems in a research report on Monday, June 6th. Pacific Crest restated a “buy” rating and issued a $36.00 target price on shares of VeriFone Systems in a research report on Monday, June 6th. Finally, Goldman Sachs Group Inc. restated a “neutral” rating and issued a $28.00 target price (down previously from $31.00) on shares of VeriFone Systems in a research report on Wednesday, June 8th. Eleven investment analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus price target of $29.68.

The firm has a market capitalization of $2.16 billion and a PE ratio of 29.86. The stock’s 50-day moving average price is $19.03 and its 200 day moving average price is $23.55.

VeriFone Systems (NYSE:PAY) last announced its quarterly earnings data 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. During the same period last year, the business 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 quarterly revenue was up 8.6% compared to the same quarter last year. On average, equities analysts anticipate that VeriFone Systems Inc. will post $1.85 EPS for the current fiscal year.

A hedge fund recently raised its stake in VeriFone Systems stock. BNP Paribas Arbitrage SA boosted its stake in shares of VeriFone Systems Inc. (NYSE:PAY) by 45.7% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 151,137 shares of the company’s stock after buying an additional 47,374 shares during the period. BNP Paribas Arbitrage SA owned approximately 0.14% of VeriFone Systems worth $4,235,000 as of its most recent filing with the SEC.

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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