Verifone Systems, Inc. (PAY) Downgraded to Sell at BidaskClub
Verifone Systems, Inc. (NYSE:PAY) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a report released on Wednesday.
PAY has been the subject of several other research reports. Zacks Investment Research raised Verifone Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada dropped their target price on Verifone Systems from $23.00 to $20.00 and set a “sector perform” rating on the stock in a report on Friday, June 9th. Imperial Capital dropped their target price on Verifone Systems from $20.00 to $19.00 and set an “in-line” rating on the stock in a report on Tuesday, June 13th. BTIG Research restated a “neutral” rating on shares of Verifone Systems in a report on Monday, June 12th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $20.00 price target (down from $22.00) on shares of Verifone Systems in a report on Sunday, June 11th. Three research analysts have rated the stock with a sell rating, fourteen have given a hold rating and two have assigned a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $18.73.
Verifone Systems (NYSE PAY) traded up 0.43% on Wednesday, hitting $18.50. The company had a trading volume of 1,509,429 shares. The firm’s market capitalization is $2.07 billion. The firm has a 50-day moving average price of $19.01 and a 200-day moving average price of $18.69. Verifone Systems has a 12-month low of $14.94 and a 12-month high of $20.98. Verifone Systems also was the recipient of some unusual options trading on Tuesday. Traders bought 22,038 put options on the stock. This represents an increase of 1,743% compared to the average daily volume of 1,196 put options.
Verifone Systems (NYSE:PAY) last posted its earnings results on Thursday, June 8th. The business services provider reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The firm had revenue of $474 million during the quarter, compared to the consensus estimate of $472.80 million. Verifone Systems had a positive return on equity of 11.55% and a negative net margin of 7.53%. The business’s quarterly revenue was down 9.9% on a year-over-year basis. During the same period last year, the company earned $0.47 earnings per share. On average, equities research analysts anticipate that Verifone Systems will post $1.33 earnings per share for the current fiscal year.
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A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Teachers Advisors LLC raised its position in Verifone Systems by 1.1% in the fourth quarter. Teachers Advisors LLC now owns 445,369 shares of the business services provider’s stock valued at $7,896,000 after buying an additional 4,910 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Verifone Systems by 21.0% in the first quarter. Bank of Montreal Can now owns 7,379 shares of the business services provider’s stock valued at $138,000 after buying an additional 1,281 shares during the last quarter. Fox Run Management L.L.C. purchased a new stake in shares of Verifone Systems during the first quarter valued at about $258,000. Louisiana State Employees Retirement System increased its stake 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 during the last quarter. Finally, Palisade Capital Management LLC NJ increased its stake 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 during the last quarter.
About Verifone Systems
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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