Verifone Systems, Inc. (PAY) Given “Buy” Rating at Jefferies Group LLC
Verifone Systems, Inc. (NYSE:PAY)‘s stock had its “buy” rating reaffirmed by Jefferies Group LLC in a note issued to investors on Monday. They currently have a $23.00 price target on the business services provider’s stock, up from their prior price target of $20.00. Jefferies Group LLC’s price target indicates a potential upside of 11.16% from the stock’s current price.
Several other brokerages have also issued reports on PAY. BidaskClub lowered Verifone Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research raised Verifone Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Piper Jaffray Companies reaffirmed a “hold” rating and set a $20.00 price target on shares of Verifone Systems in a research note on Friday. Northcoast Research lowered Verifone Systems from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 6th. Finally, Royal Bank Of Canada dropped their price target 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. One investment analyst has rated the stock with a sell rating, fourteen have issued a hold rating and three have issued a buy rating to the company’s stock. Verifone Systems currently has a consensus rating of “Hold” and an average price target of $18.80.
Shares of Verifone Systems (NYSE:PAY) traded up 5.78% during trading on Monday, reaching $20.69. The company’s stock had a trading volume of 3,971,097 shares. Verifone Systems has a 12-month low of $14.94 and a 12-month high of $20.98. The stock’s market cap is $2.31 billion. The stock’s 50-day moving average is $19.27 and its 200-day moving average is $18.73.
Verifone Systems (NYSE:PAY) last issued its quarterly earnings results on Thursday, September 7th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. Verifone Systems had a positive return on equity of 11.19% and a negative net margin of 9.76%. The firm had revenue of $466.90 million during the quarter, compared to analyst estimates of $464.13 million. During the same quarter in the previous year, the company posted $0.42 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that Verifone Systems will post $1.31 earnings per share for the current fiscal year.
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Large investors have recently made changes to their positions in the stock. Riverhead Capital Management LLC increased its holdings in Verifone Systems by 80.9% during the 2nd quarter. Riverhead Capital Management LLC now owns 6,693 shares of the business services provider’s stock valued at $121,000 after purchasing an additional 2,993 shares during the period. FNY Managed Accounts LLC purchased a new position in Verifone Systems during the 1st quarter valued at about $131,000. Bank of Montreal Can increased its holdings in Verifone Systems by 21.0% during the 1st quarter. Bank of Montreal Can now owns 7,379 shares of the business services provider’s stock valued at $138,000 after purchasing an additional 1,281 shares during the period. LS Investment Advisors LLC increased its holdings in Verifone Systems by 22.3% during the 2nd quarter. LS Investment Advisors LLC now owns 9,213 shares of the business services provider’s stock valued at $167,000 after purchasing an additional 1,679 shares during the period. Finally, Shelton Capital Management purchased a new position in Verifone Systems during the 1st quarter valued at about $203,000.
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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