Verifone Systems Sees Unusually High Options Volume (PAY)
Verifone Systems, Inc. (NYSE:PAY) was the recipient of some unusual options trading on Tuesday. Investors purchased 22,038 put options on the company. This is an increase of 1,743% compared to the average volume of 1,196 put options.
A number of research analysts have recently issued reports on the company. Barclays PLC reaffirmed an “equal weight” rating and set a $20.00 price objective (down from $22.00) on shares of Verifone Systems in a research note on Sunday, June 11th. Zacks Investment Research cut Verifone Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, May 23rd. BidaskClub cut Verifone Systems from a “hold” rating to a “sell” rating in a research note on Wednesday. BTIG Research reaffirmed a “neutral” rating on shares of Verifone Systems in a research note on Monday, June 12th. Finally, Royal Bank Of Canada reduced their price objective on Verifone Systems from $23.00 to $20.00 and set a “sector perform” rating on the stock in a research note on Friday, June 9th. Three equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $18.73.
Shares of Verifone Systems (PAY) opened at 18.77 on Friday. The stock’s 50 day moving average is $19.03 and its 200-day moving average is $18.69. Verifone Systems has a 12-month low of $14.94 and a 12-month high of $20.98. The stock’s market capitalization is $2.10 billion.
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 Zacks’ consensus estimate of $0.30. Verifone Systems had a negative net margin of 7.53% and a positive return on equity of 11.55%. The company had revenue of $474 million during the quarter, compared to analysts’ expectations of $472.80 million. During the same quarter in the prior year, the company posted $0.47 earnings per share. Verifone Systems’s revenue for the quarter was down 9.9% compared to the same quarter last year. On average, analysts expect that Verifone Systems will post $1.33 earnings per share for the current year.
A number of large investors have recently bought and sold shares of the stock. Riverhead Capital Management LLC boosted its stake in Verifone Systems by 80.9% in the second quarter. Riverhead Capital Management LLC now owns 6,693 shares of the business services provider’s stock worth $121,000 after buying an additional 2,993 shares during the last quarter. FNY Managed Accounts LLC purchased a new stake in Verifone Systems during the first quarter worth approximately $131,000. Bank of Montreal Can boosted its stake in 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 worth $138,000 after buying an additional 1,281 shares during the last quarter. LS Investment Advisors LLC boosted its stake in Verifone Systems by 22.3% in the second quarter. LS Investment Advisors LLC now owns 9,213 shares of the business services provider’s stock worth $167,000 after buying an additional 1,679 shares during the last quarter. Finally, Shelton Capital Management purchased a new stake in Verifone Systems during the first quarter worth approximately $203,000.
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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