Stifel Nicolaus reiterated their buy rating on shares of VeriFone Systems Inc. (NYSE:PAY) in a research note published on Friday morning. The brokerage currently has a $18.00 price objective on the stock.

Other research analysts also recently issued research reports about the stock. Jefferies Group reiterated a buy rating and issued a $40.00 price target on shares of VeriFone Systems 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. Pacific Crest reiterated a buy rating and issued a $36.00 price target on shares of VeriFone Systems in a research note on Monday, June 6th. SunTrust Banks Inc. decreased their price target on shares of VeriFone Systems from $37.00 to $24.00 and set a buy rating for the company in a research note on Wednesday, June 8th. Finally, Standpoint Research upgraded shares of VeriFone Systems from a hold rating to a buy rating and set a $27.00 price target for the company in a research note on Thursday, June 9th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. The company has a consensus rating of Hold and a consensus target price of $25.27.

Shares of VeriFone Systems (NYSE:PAY) opened at 15.53 on Friday. VeriFone Systems has a 12-month low of $15.46 and a 12-month high of $31.24. The stock has a market capitalization of $1.72 billion, a P/E ratio of 51.77 and a beta of 1.80. The stock has a 50 day moving average of $18.28 and a 200 day moving average of $22.85.

VeriFone Systems (NYSE:PAY) last posted its quarterly earnings data on Thursday, September 1st. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. VeriFone Systems had a net margin of 1.64% and a return on equity of 19.50%. The business earned $493 million during the quarter, compared to analyst estimates of $515.44 million. During the same quarter last year, the firm posted $0.47 earnings per share. The business’s revenue for the quarter was down 3.3% compared to the same quarter last year. Equities research analysts anticipate that VeriFone Systems will post $1.65 EPS for the current fiscal year.

Several institutional investors have recently added to or reduced their stakes in PAY. Water Island Capital LLC acquired a new position in VeriFone Systems during the second quarter valued at approximately $121,000. Acrospire Investment Management LLC boosted its position in VeriFone Systems by 112.9% in the second quarter. Acrospire Investment Management LLC now owns 6,600 shares of the company’s stock valued at $122,000 after buying an additional 3,500 shares during the period. LS Investment Advisors LLC boosted its position in VeriFone Systems by 71.0% in the second quarter. LS Investment Advisors LLC now owns 6,631 shares of the company’s stock valued at $123,000 after buying an additional 2,753 shares during the period. Creative Planning acquired a new position in VeriFone Systems during the second quarter valued at approximately $132,000. Finally, BlackRock Japan Co. Ltd acquired a new position in VeriFone Systems during the second quarter valued at approximately $135,000. Institutional investors own 95.16% of the company’s stock.

VeriFone Systems Company Profile

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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