Verifone Systems, Inc. (NYSE:PAY) Given Average Recommendation of “Hold” by Analysts
Verifone Systems, Inc. (NYSE:PAY) has received an average rating of “Hold” from the nineteen ratings firms that are currently covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have issued a buy rating on the company. The average 1-year price target among analysts that have covered the stock in the last year is $18.19.
PAY has been the subject of a number of research reports. Tigress Financial initiated coverage on shares of Verifone Systems in a research note on Monday, March 27th. They set a “buy” rating for the company. BMO Capital Markets decreased their target price on shares of Verifone Systems from $21.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, June 16th. Imperial Capital upped their price objective on Verifone Systems from $18.00 to $20.00 and gave the stock an “in-line” rating in a research note on Thursday, March 23rd. BidaskClub lowered Verifone Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Finally, Royal Bank Of Canada reduced their price objective on Verifone Systems from $23.00 to $20.00 and set a “sector perform” rating for the company in a research note on Friday, June 9th.
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A number of hedge funds and other institutional investors have recently modified their holdings of PAY. Nationwide Fund Advisors increased its position in shares of Verifone Systems by 1.2% in the first quarter. Nationwide Fund Advisors now owns 186,289 shares of the business services provider’s stock valued at $3,489,000 after buying an additional 2,145 shares in the last quarter. SFE Investment Counsel increased its position in shares of Verifone Systems by 0.9% in the first quarter. SFE Investment Counsel now owns 47,480 shares of the business services provider’s stock valued at $889,000 after buying an additional 445 shares in the last quarter. Palisade Capital Management LLC NJ increased its position in shares of Verifone Systems by 22.2% in the first quarter. Palisade Capital Management LLC NJ now owns 732,110 shares of the business services provider’s stock valued at $13,712,000 after buying an additional 133,085 shares in the last quarter. Louisiana State Employees Retirement System increased its position in shares of Verifone Systems by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the business services provider’s stock valued at $528,000 after buying an additional 800 shares in the last quarter. Finally, Fox Run Management L.L.C. purchased a new position in shares of Verifone Systems during the first quarter valued at $258,000.
Shares of Verifone Systems (PAY) opened at 19.81 on Friday. Verifone Systems has a 52-week low of $14.94 and a 52-week high of $20.98. The firm has a 50-day moving average price of $18.28 and a 200-day moving average price of $18.57. The stock’s market capitalization is $2.22 billion.
Verifone Systems (NYSE:PAY) last announced its earnings results on Thursday, June 8th. The business services provider reported $0.30 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.30. The business had revenue of $474 million during the quarter, compared to analyst estimates of $472.80 million. Verifone Systems had a negative net margin of 7.53% and a positive return on equity of 11.55%. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 EPS. On average, analysts predict that Verifone Systems will post $1.33 EPS for the current year.
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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