VeriFone Systems Inc. (NYSE:PAY) had its price target trimmed by Morgan Stanley from $23.00 to $16.00 in a research note issued to investors on Tuesday. The brokerage currently has an equal weight rating on the stock.

Analyst Recommendations for VeriFone Systems (NYSE:PAY)

Other analysts also recently issued research reports about the company. Jefferies Group reissued a buy rating and issued a $40.00 price target on shares of VeriFone Systems in a report on Wednesday, June 8th. Stifel Nicolaus cut their price target on VeriFone Systems from $40.00 to $26.00 and set a buy rating on the stock in a report on Wednesday, June 8th. Pacific Crest reissued a buy rating and issued a $36.00 price target on shares of VeriFone Systems in a report on Monday, June 6th. Piper Jaffray Cos. reissued a buy rating and issued a $38.00 price target on shares of VeriFone Systems in a report on Wednesday, June 1st. Finally, SunTrust Banks Inc. cut their price target on VeriFone Systems from $37.00 to $24.00 and set a buy rating on the stock in a report on Wednesday, June 8th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company’s stock. The stock has a consensus rating of Hold and an average price target of $25.27.

Shares of VeriFone Systems (NYSE:PAY) opened at 15.97 on Tuesday. The firm has a market cap of $1.77 billion, a price-to-earnings ratio of 53.23 and a beta of 1.80. The firm has a 50-day moving average price of $18.09 and a 200 day moving average price of $22.75. VeriFone Systems has a 12-month low of $15.46 and a 12-month high of $31.24.

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

Several large investors have recently added to or reduced their stakes in the stock. Water Island Capital LLC bought a new stake in VeriFone Systems during the second quarter valued at $121,000. Acrospire Investment Management LLC raised its stake 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 in the last quarter. LS Investment Advisors LLC raised its stake 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 in the last quarter. Creative Planning bought a new stake in VeriFone Systems during the second quarter valued at $132,000. Finally, BlackRock Japan Co. Ltd bought a new stake in VeriFone Systems during the second quarter valued at $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.

5 Day Chart for NYSE:PAY

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