State Board of Administration of Florida Retirement System trimmed its position in shares of Verifone Systems, Inc. (NYSE:PAY) by 48.9% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 82,066 shares of the business services provider’s stock after selling 78,379 shares during the quarter. State Board of Administration of Florida Retirement System owned 0.07% of Verifone Systems worth $1,485,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. FNY Managed Accounts LLC acquired a new position in shares of Verifone Systems during the first quarter worth about $131,000. Bank of Montreal Can increased its stake in shares of Verifone Systems by 21.0% during the first quarter. Bank of Montreal Can now owns 7,379 shares of the business services provider’s stock worth $138,000 after acquiring an additional 1,281 shares during the period. LS Investment Advisors LLC increased its stake in shares of Verifone Systems by 22.3% during the second quarter. LS Investment Advisors LLC now owns 9,213 shares of the business services provider’s stock worth $167,000 after acquiring an additional 1,679 shares during the period. Shelton Capital Management acquired a new position in shares of Verifone Systems during the first quarter worth about $203,000. Finally, NGAM Advisors L.P. increased its stake in shares of Verifone Systems by 5.2% during the second quarter. NGAM Advisors L.P. now owns 12,628 shares of the business services provider’s stock worth $229,000 after acquiring an additional 622 shares during the period.

Shares of Verifone Systems, Inc. (NYSE:PAY) opened at 20.86 on Friday. Verifone Systems, Inc. has a 52-week low of $14.94 and a 52-week high of $21.48. The firm’s market capitalization is $2.34 billion. The stock has a 50 day moving average of $19.43 and a 200 day moving average of $18.76.

Verifone Systems (NYSE:PAY) last announced its quarterly earnings data on Thursday, September 7th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The company had revenue of $466.90 million for the quarter, compared to analysts’ expectations of $464.13 million. Verifone Systems had a negative net margin of 9.76% and a positive return on equity of 11.19%. The business’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.42 EPS. On average, analysts predict that Verifone Systems, Inc. will post $1.30 EPS for the current fiscal year.

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A number of research analysts have recently issued reports on the stock. Zacks Investment Research upgraded shares of Verifone Systems from a “sell” rating to a “hold” rating in a research note on Thursday. Bank of America Corporation began coverage on shares of Verifone Systems in a research report on Tuesday. They set an “underperform” rating and a $19.00 target price on the stock. Citigroup Inc. began coverage on shares of Verifone Systems in a research report on Friday. They set a “neutral” rating and a $23.00 target price on the stock. BidaskClub lowered shares of Verifone Systems from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Finally, Jefferies Group LLC restated a “buy” rating and set a $23.00 target price (up from $20.00) on shares of Verifone Systems in a research report on Monday, September 11th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $19.08.

Verifone Systems Profile

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.

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

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