Shares of VeriFone Systems Inc (NYSE:PAY) have been assigned an average recommendation of “Hold” from the twenty research firms that are currently covering the firm, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating on the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $19.77.
Several research analysts have commented on the company. Barclays reissued a “hold” rating and issued a $21.00 price objective on shares of VeriFone Systems in a research report on Friday, December 15th. Zacks Investment Research lowered VeriFone Systems from a “hold” rating to a “strong sell” rating in a research report on Monday, December 18th. UBS Group lowered VeriFone Systems from a “strong-buy” rating to an “outperform” rating in a research report on Thursday, November 16th. Raymond James Financial lowered VeriFone Systems from a “strong-buy” rating to an “outperform” rating and cut their price objective for the company from $25.00 to $22.00 in a research report on Thursday, November 16th. Finally, Argus restated a “hold” rating on shares of VeriFone Systems in a research note on Tuesday, December 26th.
VeriFone Systems (PAY) opened at $16.52 on Tuesday. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.33 and a quick ratio of 1.09. VeriFone Systems has a 52-week low of $16.52 and a 52-week high of $21.48. The company has a market capitalization of $1,940.77, a PE ratio of -10.66, a price-to-earnings-growth ratio of 1.76 and a beta of 1.79.
VeriFone Systems announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 12th that allows the company to buyback $100.00 million in shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
Several institutional investors have recently made changes to their positions in PAY. State Street Corp grew its stake in shares of VeriFone Systems by 27.8% during the second quarter. State Street Corp now owns 3,612,321 shares of the business services provider’s stock valued at $65,386,000 after acquiring an additional 786,774 shares in the last quarter. Northern Trust Corp grew its stake in shares of VeriFone Systems by 81.9% during the second quarter. Northern Trust Corp now owns 1,710,176 shares of the business services provider’s stock valued at $30,954,000 after acquiring an additional 769,788 shares in the last quarter. Mesirow Financial Investment Management Equity Management acquired a new stake in shares of VeriFone Systems during the third quarter valued at about $14,470,000. SG Capital Management LLC grew its stake in VeriFone Systems by 981.6% in the fourth quarter. SG Capital Management LLC now owns 619,407 shares of the business services provider’s stock worth $10,970,000 after purchasing an additional 562,140 shares in the last quarter. Finally, Fisher Asset Management LLC grew its stake in VeriFone Systems by 11.4% in the third quarter. Fisher Asset Management LLC now owns 4,110,364 shares of the business services provider’s stock worth $83,358,000 after purchasing an additional 421,203 shares in the last quarter.
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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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