VeriFone Systems Inc. (PAY) Coverage Initiated by Analysts at Craig Hallum
Craig Hallum initiated coverage on shares of VeriFone Systems Inc. (NYSE:PAY) in a report issued on Monday, The Fly reports. The brokerage set a “buy” rating on the stock.
PAY has been the subject of several other research reports. Imperial Capital lowered shares of VeriFone Systems from an “outperform” rating to an “in-line” rating and decreased their price objective for the company from $24.00 to $18.00 in a research note on Monday, September 12th. Pacific Crest restated a “hold” rating on shares of VeriFone Systems in a research note on Sunday, September 4th. Stifel Nicolaus restated a “buy” rating and set a $18.00 price target on shares of VeriFone Systems in a research note on Friday, September 16th. Credit Suisse Group AG restated a “hold” rating and set a $24.00 price target on shares of VeriFone Systems in a research note on Tuesday, June 28th. Finally, Barclays PLC decreased their price target on shares of VeriFone Systems from $21.00 to $19.00 and set an “equal weight” rating for the company in a research note on Friday, September 2nd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average target price of $24.85.
Shares of VeriFone Systems (NYSE:PAY) opened at 15.08 on Monday. The company has a market cap of $1.67 billion, a PE ratio of 50.27 and a beta of 2.04. The stock’s 50 day moving average price is $16.60 and its 200-day moving average price is $21.45. VeriFone Systems has a one year low of $14.94 and a one year high of $31.24.
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VeriFone Systems (NYSE:PAY) last posted its quarterly earnings data on Thursday, September 1st. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm earned $493 million during the quarter, compared to analyst estimates of $515.44 million. VeriFone Systems had a net margin of 1.64% and a return on equity of 19.50%. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter last year, the business posted $0.47 EPS. On average, analysts expect that VeriFone Systems will post $1.65 EPS for the current year.
In related news, Director Eitan Raff sold 4,125 shares of VeriFone Systems stock in a transaction on Monday, September 26th. The shares were sold at an average price of $16.13, for a total value of $66,536.25. Following the transaction, the director now owns 15,125 shares in the company, valued at approximately $243,966.25. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Robert W. Alspaugh sold 8,250 shares of VeriFone Systems stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $15.81, for a total transaction of $130,432.50. Following the completion of the transaction, the director now owns 17,250 shares in the company, valued at approximately $272,722.50. The disclosure for this sale can be found here. 1.20% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently modified their holdings of PAY. Water Island Capital LLC acquired a new position in shares of VeriFone Systems during the second quarter worth approximately $121,000. Acrospire Investment Management LLC boosted its position in shares of VeriFone Systems by 112.9% in the second quarter. Acrospire Investment Management LLC now owns 6,600 shares of the company’s stock worth $122,000 after buying an additional 3,500 shares during the last quarter. LS Investment Advisors LLC boosted its position in shares of VeriFone Systems by 71.0% in the second quarter. LS Investment Advisors LLC now owns 6,631 shares of the company’s stock worth $123,000 after buying an additional 2,753 shares during the last quarter. Creative Planning acquired a new position in shares of VeriFone Systems during the second quarter worth approximately $132,000. Finally, BlackRock Japan Co. Ltd acquired a new position in shares of VeriFone Systems during the second quarter worth approximately $135,000. Institutional investors own 95.11% of the company’s stock.
VeriFone Systems Company Profile
VeriFone Systems, Inc is engaged in providing electronic payment solutions at the point of sale (POS). The Company designs, manufactures, markets and supplies a range of payment solutions and complementary services that enable secure electronic payment transactions and value-added services at the POS.
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