Equities researchers at Citigroup Inc. began coverage on shares of Verifone Systems, Inc. (NYSE:PAY) in a note issued to investors on Friday, MarketBeat reports. The firm set a “neutral” rating and a $23.00 price target on the business services provider’s stock. Citigroup Inc.’s target price indicates a potential upside of 10.26% from the company’s previous close.

Several other research firms also recently issued reports on PAY. Zacks Investment Research downgraded Verifone Systems from a “hold” rating to a “sell” rating in a report on Monday, August 14th. Northcoast Research downgraded Verifone Systems from a “buy” rating to a “neutral” rating in a report on Wednesday, September 6th. BMO Capital Markets cut their price objective on Verifone Systems from $21.00 to $20.00 and set a “market perform” rating on the stock in a report on Friday, June 16th. BTIG Research reiterated a “hold” rating on shares of Verifone Systems in a report on Monday. Finally, BidaskClub downgraded Verifone Systems from a “hold” rating to a “sell” rating in a report on Tuesday, June 20th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $19.08.

Verifone Systems (NYSE PAY) traded up 0.87% during trading on Friday, hitting $20.86. The stock had a trading volume of 1,859,777 shares. Verifone Systems has a one year low of $14.94 and a one year high of $21.48. The firm has a 50 day moving average of $19.43 and a 200-day moving average of $18.76. The company’s market cap is $2.34 billion.

Verifone Systems (NYSE:PAY) last posted its quarterly earnings data on Thursday, September 7th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $466.90 million for the quarter, compared to the consensus estimate of $464.13 million. Verifone Systems had a positive return on equity of 11.19% and a negative net margin of 9.76%. The company’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.42 EPS. Equities analysts anticipate that Verifone Systems will post $1.30 earnings per share for the current fiscal year.

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Large investors have recently added to or reduced their stakes in the company. Legal & General Group Plc boosted its position in shares of Verifone Systems by 76.7% during the 1st quarter. Legal & General Group Plc now owns 98,467 shares of the business services provider’s stock worth $1,845,000 after acquiring an additional 42,756 shares in the last quarter. Rhumbline Advisers boosted its position in shares of Verifone Systems by 5.0% during the 2nd quarter. Rhumbline Advisers now owns 228,791 shares of the business services provider’s stock worth $4,141,000 after acquiring an additional 10,875 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Verifone Systems by 300.1% during the 2nd 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 acquiring an additional 3,770,155 shares in the last quarter. Schafer Cullen Capital Management Inc. boosted its position in shares of Verifone Systems by 14.5% during the 1st quarter. Schafer Cullen Capital Management Inc. now owns 16,950 shares of the business services provider’s stock worth $317,000 after acquiring an additional 2,150 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its position in shares of Verifone Systems by 0.3% during the 1st quarter. Metropolitan Life Insurance Co. NY now owns 108,304 shares of the business services provider’s stock worth $2,029,000 after acquiring an additional 281 shares in 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.

Analyst Recommendations for Verifone Systems (NYSE:PAY)

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