Verifone Systems, Inc. (NYSE:PAY) has been given an average rating of “Hold” by the seventeen research firms that are presently covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell recommendation, fourteen have given a hold recommendation and two have given a buy recommendation to the company. The average 1-year price target among brokers that have updated their coverage on the stock in the last year is $18.27.

PAY has been the subject of several recent analyst reports. 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 report on Friday, June 16th. Zacks Investment Research cut shares of Verifone Systems from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. BidaskClub cut shares of Verifone Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Northcoast Research cut shares of Verifone Systems from a “buy” rating to a “neutral” rating in a research report on Wednesday. Finally, Royal Bank Of Canada decreased their target price on shares of Verifone Systems from $23.00 to $20.00 and set a “sector perform” rating for the company in a research report on Friday, June 9th.

Shares of Verifone Systems (NYSE PAY) opened at 19.56 on Friday. Verifone Systems has a 52 week low of $14.94 and a 52 week high of $20.98. The firm’s market cap is $2.19 billion. The stock’s 50 day moving average is $19.28 and its 200 day moving average is $18.74.

Verifone Systems (NYSE:PAY) last announced its quarterly earnings data on Thursday, September 7th. The business services provider reported $0.36 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.36. Verifone Systems had a negative net margin of 9.76% and a positive return on equity of 11.04%. The business had revenue of $466.90 million during the quarter, compared to the consensus estimate of $464.13 million. During the same quarter in the prior year, the firm earned $0.42 EPS. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities research analysts predict that Verifone Systems will post $1.33 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in the stock. BlackRock Inc. lifted its stake in Verifone Systems by 13.5% during the second quarter. BlackRock Inc. now owns 16,668,535 shares of the business services provider’s stock valued at $301,702,000 after purchasing an additional 1,982,859 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Verifone Systems by 4.2% during the second quarter. Vanguard Group Inc. now owns 9,365,370 shares of the business services provider’s stock valued at $169,513,000 after acquiring an additional 376,008 shares during the period. Causeway Capital Management LLC raised its holdings in shares of Verifone Systems by 11.5% during the first quarter. Causeway Capital Management LLC now owns 7,981,839 shares of the business services provider’s stock valued at $171,223,000 after acquiring an additional 823,780 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Verifone Systems by 300.1% during the second quarter. Bank of New York Mellon Corp now owns 5,026,621 shares of the business services provider’s stock valued at $90,982,000 after acquiring an additional 3,770,155 shares during the period. Finally, Alliancebernstein L.P. raised its holdings in shares of Verifone Systems by 18.6% during the second quarter. Alliancebernstein L.P. now owns 4,745,833 shares of the business services provider’s stock valued at $85,900,000 after acquiring an additional 742,871 shares during the period.

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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.

Analyst Recommendations for Verifone Systems (NYSE:PAY)

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