VeriFone Systems Inc. (NYSE:PAY) shares rose 1.9% during 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.

A number of brokerages have issued reports on PAY. Stifel Nicolaus cut their price target on shares of VeriFone Systems from $40.00 to $26.00 and set a “buy” rating on the stock in a research note on Wednesday, June 8th. Piper Jaffray Cos. restated a “buy” rating and set a $38.00 price target on shares of VeriFone Systems in a research note on Wednesday, June 1st. Pacific Crest restated a “buy” rating and set a $36.00 price target on shares of VeriFone Systems in a research note on Monday, June 6th. Jefferies Group restated a “buy” rating and set a $40.00 price target on shares of VeriFone Systems in a research note on Wednesday, June 8th. Finally, SunTrust Banks Inc. cut their price target 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. Eleven research analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $29.68.

The firm has a market capitalization of $2.16 billion and a price-to-earnings ratio of 29.86. The company’s 50 day moving average price is $19.07 and its 200 day moving average price is $23.53.

VeriFone Systems (NYSE:PAY) last announced its earnings results on Tuesday, June 7th. The company reported $0.47 EPS for the quarter, missing analysts’ consensus estimates of $0.52 by $0.05. The firm had revenue of $532 million for the quarter, compared to analyst estimates of $530.07 million. VeriFone Systems’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same quarter last year, the firm earned $0.44 earnings per share. On average, equities analysts anticipate that VeriFone Systems Inc. will post $1.85 EPS for the current fiscal year.

An institutional investor recently raised its position 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 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 about 0.14% of VeriFone Systems worth $4,235,000 at the end of the most recent 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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