VeriFone Systems Inc (PAY) Given Consensus Recommendation of “Hold” by Analysts
VeriFone Systems Inc (NYSE:PAY) has earned a consensus recommendation of “Hold” from the twenty analysts that are covering the firm, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, fourteen have given a hold recommendation and four have given a buy recommendation to the company. The average twelve-month price objective among brokers that have issued a report on the stock in the last year is $19.77.
PAY has been the topic of a number of research analyst reports. Raymond James Financial downgraded shares of VeriFone Systems from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $25.00 to $22.00 in a research note on Thursday, November 16th. Citigroup initiated coverage on shares of VeriFone Systems in a research note on Friday, September 15th. They issued a “neutral” rating and a $23.00 price target on the stock. Tigress Financial restated a “buy” rating on shares of VeriFone Systems in a research note on Tuesday, December 19th. UBS Group downgraded shares of VeriFone Systems from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, November 16th. Finally, Argus reiterated a “hold” rating on shares of VeriFone Systems in a research report on Tuesday, December 26th.
VeriFone Systems (NYSE:PAY) opened at $18.54 on Friday. The company has a quick ratio of 1.09, a current ratio of 1.33 and a debt-to-equity ratio of 0.97. VeriFone Systems has a 1-year low of $16.80 and a 1-year high of $21.48. The company has a market cap of $2,080.00, a PE ratio of -11.96, a price-to-earnings-growth ratio of 1.43 and a beta of 1.96.
VeriFone Systems announced that its board has authorized a stock repurchase plan on Tuesday, December 12th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s leadership believes its stock is undervalued.
Several large investors have recently added to or reduced their stakes in the company. Zions Bancorporation bought a new stake in VeriFone Systems during the 3rd quarter valued at $108,000. Riverhead Capital Management LLC boosted 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 worth $121,000 after acquiring an additional 2,993 shares during the last quarter. Carret Asset Management LLC boosted its holdings in VeriFone Systems by 22.1% during the 2nd quarter. Carret Asset Management LLC now owns 14,100 shares of the business services provider’s stock worth $255,000 after acquiring an additional 2,550 shares during the last quarter. Turner Investments LLC purchased a new position in VeriFone Systems during the 3rd quarter worth $284,000. Finally, Highbridge Capital Management LLC purchased a new position in VeriFone Systems during the 3rd quarter worth $300,000.
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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.
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