VeriFone Systems Inc. (PAY) Receives New Coverage from Analysts at Craig Hallum
PAY has been the topic of a number of other research reports. Imperial Capital lowered shares of VeriFone Systems from an outperform rating to an in-line rating and decreased their target price for the stock from $24.00 to $18.00 in a research report on Monday, September 12th. Pacific Crest reiterated a hold rating on shares of VeriFone Systems in a report on Sunday, September 4th. Stifel Nicolaus reiterated a buy rating and issued a $18.00 price target on shares of VeriFone Systems in a report on Friday, September 16th. Credit Suisse Group AG reiterated a hold rating and issued a $24.00 price target on shares of VeriFone Systems in a report on Tuesday, June 28th. Finally, Barclays PLC decreased their price target on shares of VeriFone Systems from $21.00 to $19.00 and set an equal weight rating on the stock in a report on Friday, September 2nd. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. The stock presently has a consensus rating of Hold and a consensus price target of $24.65.
VeriFone Systems (NYSE:PAY) traded up 0.60% during mid-day trading on Monday, hitting $15.13. The stock had a trading volume of 249,854 shares. The company has a market cap of $1.68 billion, a price-to-earnings ratio of 50.43 and a beta of 2.04. The company has a 50 day moving average price of $16.48 and a 200-day moving average price of $21.26. VeriFone Systems has a one year low of $14.94 and a one year high of $31.24.
VeriFone Systems (NYSE:PAY) last announced its earnings results on Thursday, September 1st. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ 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 firm had revenue of $493 million for the quarter, compared to analyst estimates of $515.44 million. During the same quarter last year, the business earned $0.47 earnings per share. VeriFone Systems’s revenue was down 3.3% compared to the same quarter last year. Equities analysts expect that VeriFone Systems will post $1.65 earnings per share for the current fiscal year.
In other VeriFone Systems news, Director Eitan Raff sold 4,125 shares of the business’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $16.13, for a total transaction of $66,536.25. Following the completion of the transaction, the director now directly owns 15,125 shares of the company’s stock, valued at approximately $243,966.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert W. Alspaugh sold 8,250 shares of the business’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $15.81, for a total transaction of $130,432.50. Following the transaction, the director now directly owns 17,250 shares of the company’s stock, valued at $272,722.50. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of PAY. Water Island Capital LLC purchased a new position in VeriFone Systems during the second quarter worth about $121,000. Acrospire Investment Management LLC raised its stake in shares of VeriFone Systems by 112.9% in the second quarter. Acrospire Investment Management LLC now owns 6,600 shares of the company’s stock worth $122,000 after buying an additional 3,500 shares in the last quarter. LS Investment Advisors LLC raised its stake in shares of VeriFone Systems by 71.0% in the second quarter. LS Investment Advisors LLC now owns 6,631 shares of the company’s stock worth $123,000 after buying an additional 2,753 shares in the last quarter. Creative Planning bought a new stake in shares of VeriFone Systems during the second quarter worth $132,000. Finally, BlackRock Japan Co. Ltd bought a new stake in shares of VeriFone Systems during the second quarter worth $135,000. 95.11% of the stock is owned by hedge funds and other institutional investors.
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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