Piper Jaffray Companies Reaffirms Hold Rating for Verifone Systems, Inc. (PAY)
Verifone Systems, Inc. (NYSE:PAY)‘s stock had its “hold” rating restated by research analysts at Piper Jaffray Companies in a report released on Friday. They currently have a $20.00 price objective on the business services provider’s stock. Piper Jaffray Companies’ price objective suggests a potential upside of 2.25% from the company’s current price.
PAY has been the topic of a number of other reports. Barclays PLC reiterated an “equal weight” rating and set a $20.00 target price (down from $22.00) on shares of Verifone Systems in a research report on Sunday, June 11th. Zacks Investment Research lowered shares of Verifone Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. BidaskClub lowered shares of Verifone Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. BTIG Research reiterated a “neutral” rating on shares of Verifone Systems in a research report on Monday, June 12th. Finally, Royal Bank Of Canada reduced their target price on shares of Verifone Systems from $23.00 to $20.00 and set a “sector perform” rating on the stock in a research report on Friday, June 9th. One investment analyst has rated the stock with a sell rating, fourteen have given a hold rating and two have given a buy rating to the company’s stock. Verifone Systems has a consensus rating of “Hold” and an average target price of $18.48.
Shares of Verifone Systems (NYSE PAY) traded up 0.67% during midday trading on Friday, reaching $19.56. The company had a trading volume of 4,355,749 shares. The firm’s 50 day moving average price is $19.28 and its 200-day moving average price is $18.74. The company’s market capitalization is $2.19 billion. Verifone Systems has a 12 month low of $14.94 and a 12 month high of $20.98.
Verifone Systems (NYSE:PAY) last announced its earnings results on Thursday, September 7th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. Verifone Systems had a negative net margin of 9.76% and a positive return on equity of 11.04%. The company had revenue of $466.90 million for the quarter, compared to analyst estimates of $464.13 million. During the same period in the prior year, the business earned $0.42 earnings per share. Verifone Systems’s quarterly revenue was down 5.2% on a year-over-year basis. Analysts anticipate that Verifone Systems will post $1.33 earnings per share for the current fiscal year.
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A number of institutional investors and hedge funds have recently bought and sold shares of the business. BlackRock Inc. raised its holdings in Verifone Systems by 13.5% in the second quarter. BlackRock Inc. now owns 16,668,535 shares of the business services provider’s stock worth $301,702,000 after purchasing an additional 1,982,859 shares during the period. Vanguard Group Inc. raised its holdings in Verifone Systems by 4.2% in the second quarter. Vanguard Group Inc. now owns 9,365,370 shares of the business services provider’s stock worth $169,513,000 after purchasing an additional 376,008 shares during the period. Causeway Capital Management LLC raised its holdings in Verifone Systems by 11.5% in the first quarter. Causeway Capital Management LLC now owns 7,981,839 shares of the business services provider’s stock worth $171,223,000 after purchasing an additional 823,780 shares during the period. Bank of New York Mellon Corp raised its holdings in Verifone Systems by 300.1% in the second quarter. Bank of New York Mellon Corp now owns 5,026,621 shares of the business services provider’s stock worth $90,982,000 after purchasing an additional 3,770,155 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in Verifone Systems by 18.6% in the second quarter. Alliancebernstein L.P. now owns 4,745,833 shares of the business services provider’s stock worth $85,900,000 after purchasing an additional 742,871 shares during the period.
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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