Investors Purchase High Volume of VeriFone Systems Put Options (PAY)
VeriFone Systems (NYSE:PAY) was the target of some unusual options trading on Thursday. Stock traders purchased 7,287 put options on the stock, Stock Ratings Network.com reports. This is an increase of 497% compared to the average volume of 1,221 put options.
PAY has been the subject of a number of recent research reports. Analysts at Susquehanna downgraded shares of VeriFone Systems from a “positive” rating to a “neutral” rating in a research note on Monday, May 19th. Separately, analysts at Zacks upgraded shares of VeriFone Systems from an “underperform” rating to a “neutral” rating in a research note on Friday, May 16th. They now have a $35.00 price target on the stock. Finally, analysts at Barclays initiated coverage on shares of VeriFone Systems in a research note on Monday, May 12th. They set an “overweight” rating and a $21.00 price target on the stock. Seven equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average target price of $30.73.
VeriFone Systems (NYSE:PAY) traded down 0.09% on Thursday, hitting $33.82. 2,383,649 shares of the company’s stock traded hands. VeriFone Systems has a one year low of $15.34 and a one year high of $35.38. The stock’s 50-day moving average is $33.21 and its 200-day moving average is $29.73. The company’s market cap is $3.758 billion.
VeriFone Systems (NYSE:PAY) last announced its earnings results on Thursday, June 5th. The company reported $0.33 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.33. The company had revenue of $467.00 million for the quarter, compared to the consensus estimate of $443.42 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue for the quarter was up 8.6% on a year-over-year basis. On average, analysts predict that VeriFone Systems will post $1.43 earnings per share for the current fiscal year.
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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