Verifone Systems (NYSE:PAY) had its price target hoisted by equities research analysts at Credit Suisse Group from $20.00 to $21.00 in a research report issued on Wednesday. The firm currently has a “neutral” rating on the business services provider’s stock. Credit Suisse Group’s price objective indicates a potential upside of 13.70% from the company’s current price.
Several other brokerages have also recently commented on PAY. Piper Jaffray Companies reiterated a “hold” rating and issued a $20.00 price target on shares of Verifone Systems in a research note on Friday, September 8th. Zacks Investment Research cut shares of Verifone Systems from a “hold” rating to a “sell” rating in a research note on Friday, September 8th. Barclays reiterated a “hold” rating and issued a $22.00 price target on shares of Verifone Systems in a research note on Friday, September 29th. BidaskClub cut shares of Verifone Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Finally, BTIG Research reiterated a “hold” rating on shares of Verifone Systems in a research note on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $19.70.
Verifone Systems (PAY) traded up $0.28 on Wednesday, hitting $18.47. 4,304,800 shares of the company were exchanged, compared to its average volume of 1,596,924. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.10 and a current ratio of 1.32. Verifone Systems has a 52 week low of $16.03 and a 52 week high of $21.48. The stock has a market cap of $2,034.30, a PE ratio of 22.46, a price-to-earnings-growth ratio of 1.35 and a beta of 1.96.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Zions Bancorporation purchased a new stake in shares of Verifone Systems during the 3rd quarter valued at about $108,000. Riverhead Capital Management LLC grew its holdings in shares of Verifone Systems by 80.9% in the second 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 in the last quarter. Timber Hill LLC acquired a new position in Verifone Systems during the 2nd quarter worth approximately $214,000. NGAM Advisors L.P. grew its holdings in Verifone Systems by 5.2% during the 2nd quarter. NGAM Advisors L.P. now owns 12,628 shares of the business services provider’s stock worth $229,000 after acquiring an additional 622 shares in the last quarter. Finally, Carret Asset Management LLC grew 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 in the last quarter.
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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.
