American International Group Inc. lifted its stake in Verifone Systems, Inc. (NYSE:PAY) by 2.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 303,497 shares of the business services provider’s stock after acquiring an additional 8,564 shares during the quarter. American International Group Inc. owned 0.27% of Verifone Systems worth $6,155,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of PAY. Oregon Public Employees Retirement Fund lifted its holdings in shares of Verifone Systems by 4.5% in the 2nd quarter. Oregon Public Employees Retirement Fund now owns 40,847 shares of the business services provider’s stock worth $739,000 after acquiring an additional 1,762 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Verifone Systems by 22.3% in the 2nd 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 last quarter. Louisiana State Employees Retirement System lifted its holdings in shares of Verifone Systems by 3.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 29,100 shares of the business services provider’s stock worth $527,000 after acquiring an additional 900 shares during the last quarter. State Treasurer State of Michigan lifted its holdings in shares of Verifone Systems by 1.5% in the 2nd quarter. State Treasurer State of Michigan now owns 46,000 shares of the business services provider’s stock worth $833,000 after acquiring an additional 700 shares during the last quarter. Finally, ING Groep NV acquired a new position in shares of Verifone Systems in the 2nd quarter worth approximately $246,000.

Verifone Systems, Inc. (NYSE PAY) traded up $0.16 during trading on Friday, reaching $17.50. 1,641,645 shares of the company’s stock were exchanged, compared to its average volume of 1,139,780. The firm has a market cap of $1,957.13, a price-to-earnings ratio of 21.60, a PEG ratio of 1.30 and a beta of 1.97. Verifone Systems, Inc. has a 12 month low of $15.10 and a 12 month high of $21.48. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.10 and a current ratio of 1.32.

Verifone Systems (NYSE:PAY) last released its earnings results on Thursday, September 7th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. The company had revenue of $466.90 million for the quarter, compared to analyst estimates of $464.13 million. Verifone Systems had a negative net margin of 9.76% and a positive return on equity of 11.19%. The firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $0.42 EPS. analysts predict that Verifone Systems, Inc. will post 0.99 EPS for the current year.

PAY has been the topic of several recent analyst reports. Zacks Investment Research lowered shares of Verifone Systems from a “hold” rating to a “sell” rating in a report on Monday, August 14th. BidaskClub lowered shares of Verifone Systems from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Northcoast Research lowered shares of Verifone Systems from a “buy” rating to a “neutral” rating in a report on Wednesday, September 6th. Piper Jaffray Companies restated a “hold” rating and issued a $20.00 price objective on shares of Verifone Systems in a report on Friday, September 8th. Finally, Jefferies Group restated a “buy” rating and issued a $23.00 price objective (up from $20.00) on shares of Verifone Systems in a report on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have assigned a buy rating to the stock. The company currently has an average rating of “Hold” and a consensus price target of $19.61.

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Verifone Systems Company 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.

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

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