VeriFone Systems Inc. (PAY) Trading 1.9% Higher
VeriFone Systems Inc. (NYSE:PAY) traded up 1.9% on Friday . The stock traded as high as $19.53 and last traded at $19.19, with a volume of 1,748,289 shares traded. The stock had previously closed at $18.83.
Several equities research analysts have weighed in on the company. Pacific Crest reiterated a “hold” rating on shares of VeriFone Systems in a report on Wednesday. Zacks Investment Research upgraded VeriFone Systems from a “strong sell” rating to a “hold” rating in a report on Tuesday, August 9th. Barclays PLC lowered their target price on VeriFone Systems from $23.00 to $21.00 and set an “equal weight” rating for the company in a report on Thursday, July 7th. Credit Suisse Group AG reiterated a “hold” rating and issued a $24.00 target price on shares of VeriFone Systems in a report on Tuesday, June 28th. Finally, Imperial Capital lowered their target price on VeriFone Systems from $32.00 to $24.00 and set an “outperform” rating for the company in a report on Monday, June 20th. Eleven equities research analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. VeriFone Systems has a consensus rating of “Buy” and an average price target of $29.52.
The firm’s 50-day moving average price is $18.92 and its 200 day moving average price is $23.64. The stock has a market cap of $2.13 billion and a price-to-earnings ratio of 29.56.
VeriFone Systems (NYSE:PAY) last released its quarterly earnings results on Tuesday, June 7th. The company reported $0.47 EPS for the quarter, missing the consensus estimate of $0.52 by $0.05. The firm earned $532 million during the quarter, compared to analyst estimates of $530.07 million. The firm’s revenue for the quarter was up 8.6% on a year-over-year basis. During the same period in the prior year, the company posted $0.44 EPS. On average, equities research analysts anticipate that VeriFone Systems Inc. will post $1.85 EPS for the current fiscal year.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA raised its position in VeriFone Systems by 45.7% in the fourth quarter. BNP Paribas Arbitrage SA now owns 151,137 shares of the company’s stock valued at $4,235,000 after buying an additional 47,374 shares in the last quarter. Wells Fargo & Company MN raised its position in VeriFone Systems by 73.0% in the fourth quarter. Wells Fargo & Company MN now owns 740,790 shares of the company’s stock valued at $20,756,000 after buying an additional 312,558 shares in the last quarter. Finally, Morgan Stanley raised its position in VeriFone Systems by 13.2% in the fourth quarter. Morgan Stanley now owns 804,392 shares of the company’s stock valued at $22,538,000 after buying an additional 93,909 shares in the last 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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