Credit Suisse AG cut its stake in shares of Verifone Systems, Inc. (NYSE:PAY) by 36.8% during the first quarter, Holdings Channel reports. The fund owned 106,725 shares of the business services provider’s stock after selling 62,163 shares during the period. Credit Suisse AG’s holdings in Verifone Systems were worth $1,998,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Northwestern Mutual Investment Management Company LLC increased its position in shares of Verifone Systems by 0.5% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 19,228 shares of the business services provider’s stock valued at $360,000 after buying an additional 104 shares during the last quarter. Private Advisor Group LLC increased its position in shares of Verifone Systems by 1.9% in the first quarter. Private Advisor Group LLC now owns 12,960 shares of the business services provider’s stock valued at $233,000 after buying an additional 245 shares during the last quarter. Metropolitan Life Insurance Co. NY increased its position in shares of Verifone Systems by 0.3% in the first quarter. Metropolitan Life Insurance Co. NY now owns 108,304 shares of the business services provider’s stock valued at $2,029,000 after buying an additional 281 shares during the last quarter. SFE Investment Counsel increased its position in shares of Verifone Systems by 0.9% in the first quarter. SFE Investment Counsel now owns 47,480 shares of the business services provider’s stock valued at $889,000 after buying an additional 445 shares during the last quarter. Finally, Advantus Capital Management Inc increased its position in shares of Verifone Systems by 3.6% in the first quarter. Advantus Capital Management Inc now owns 14,286 shares of the business services provider’s stock valued at $268,000 after buying an additional 495 shares during the last quarter.

Shares of Verifone Systems, Inc. (PAY) traded down 1.82% during mid-day trading on Thursday, hitting $18.86. The stock had a trading volume of 176,394 shares. Verifone Systems, Inc. has a one year low of $14.94 and a one year high of $20.98. The company has a 50-day moving average of $18.86 and a 200 day moving average of $18.68. The firm’s market cap is $2.11 billion.

Verifone Systems (NYSE:PAY) last posted its quarterly earnings results on Thursday, June 8th. The business services provider reported $0.30 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.30. Verifone Systems had a positive return on equity of 11.55% and a negative net margin of 7.53%. The company had revenue of $474 million during the quarter, compared to the consensus estimate of $472.80 million. During the same period last year, the business earned $0.47 EPS. The business’s quarterly revenue was down 9.9% on a year-over-year basis. On average, equities research analysts forecast that Verifone Systems, Inc. will post $1.33 earnings per share for the current year.

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Several research analysts recently weighed in on the stock. BidaskClub raised shares of Verifone Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Imperial Capital lowered their price target on Verifone Systems from $20.00 to $19.00 and set an “in-line” rating for the company in a report on Tuesday, June 13th. BTIG Research restated a “neutral” rating on shares of Verifone Systems in a report on Monday, June 12th. Zacks Investment Research upgraded Verifone Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. Finally, Barclays PLC restated an “equal weight” rating and issued a $20.00 price target (down previously from $22.00) on shares of Verifone Systems in a report on Sunday, June 11th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $18.73.

About Verifone Systems

VeriFone Systems, Inc offers payments and commerce solutions. The Company is engaged in designing, manufacturing, marketing and supplying a range of payment solutions and complementary services. It provides solutions and services for the retail point-of-sale (POS) that enable various forms of commerce.

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Institutional Ownership by Quarter for Verifone Systems (NYSE:PAY)

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