Verifone Systems, Inc. (PAY) Receives Average Rating of “Hold” from Brokerages
Shares of Verifone Systems, Inc. (NYSE:PAY) have been given a consensus rating of “Hold” by the twenty research firms that are covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, sixteen have given a hold recommendation and three have issued a buy recommendation on the company. The average 1-year target price among brokerages that have covered the stock in the last year is $19.08.
A number of research firms recently issued reports on PAY. BidaskClub upgraded Verifone Systems from a “hold” rating to a “buy” rating in a research report on Wednesday, July 19th. Jefferies Group LLC reaffirmed a “buy” rating and issued a $23.00 target price (up from $20.00) on shares of Verifone Systems in a research report on Monday, September 11th. Imperial Capital dropped their target price on Verifone Systems from $20.00 to $19.00 and set an “in-line” rating on the stock in a research report on Tuesday, June 13th. Zacks Investment Research upgraded Verifone Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Finally, BTIG Research reiterated a “neutral” rating on shares of Verifone Systems in a research note on Monday, June 12th.
Hedge funds have recently modified their holdings of the company. BlackRock Inc. boosted its position in shares of Verifone Systems by 13.5% during the 2nd 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 in the last quarter. Vanguard Group Inc. grew its stake in shares of Verifone Systems by 4.2% in the 2nd 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 last quarter. Causeway Capital Management LLC grew its stake in shares of Verifone Systems by 11.5% in the 1st 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 last quarter. Bank of New York Mellon Corp raised its holdings in shares of Verifone Systems by 300.1% in 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 purchasing an additional 3,770,155 shares in the last quarter. Finally, Alliancebernstein L.P. raised its holdings in shares of Verifone Systems by 18.6% in the 2nd 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 in the last quarter.
Verifone Systems (NYSE:PAY) opened at 20.98 on Wednesday. The firm’s market capitalization is $2.35 billion. The firm has a 50-day moving average of $19.90 and a 200 day moving average of $18.81. Verifone Systems has a 52 week low of $14.94 and a 52 week high of $21.48.
Verifone Systems (NYSE:PAY) last issued its earnings results on Thursday, September 7th. The business services provider reported $0.36 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.36. The company had revenue of $466.90 million during 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%. Verifone Systems’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.42 earnings per share. Analysts predict that Verifone Systems will post $1.30 earnings per share for the current year.
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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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