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VeriFone Systems (NYSE:PAY) was downgraded by stock analysts at Standpoint Research from a “buy” rating to a “hold” rating in a report issued on Wednesday, StockRatingsNetwork reports.

Shares of VeriFone Systems (NYSE:PAY) traded down 1.04% during mid-day trading on Wednesday, hitting $28.56. 818,113 shares of the company’s stock traded hands. VeriFone Systems has a 1-year low of $15.34 and a 1-year high of $33.00. The stock has a 50-day moving average of $28.09 and a 200-day moving average of $24.07. The company’s market cap is $3.154 billion.

VeriFone Systems (NYSE:PAY) last issued its quarterly earnings data on Tuesday, December 17th. The company reported $0.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.26 by $0.01. The company had revenue of $432.00 million for the quarter, compared to the consensus estimate of $421.50 million. During the same quarter in the previous year, the company posted $0.76 earnings per share. The company’s revenue for the quarter was down 11.7% on a year-over-year basis. Analysts expect that VeriFone Systems will post $1.40 EPS for the current fiscal year.

Other equities research analysts have also recently issued reports about the stock. Analysts at SunTrust raised their price target on shares of VeriFone Systems from $31.00 to $37.00 in a research note on Friday, January 31st. Separately, analysts at Deutsche Bank raised their price target on shares of VeriFone Systems from $13.00 to $18.00 in a research note on Tuesday, January 28th. They now have a “sell” rating on the stock. Finally, analysts at Wedbush raised their price target on shares of VeriFone Systems from $28.00 to $35.00 in a research note on Tuesday, January 28th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and five have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $27.07.

VeriFone Systems, Inc (NYSE:PAY), formerly VeriFone Holdings, Inc, is a holding company for VeriFone, Inc The Company is engaged in the secure electronic payment solutions.

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