Cambiar Investors LLC raised its position in shares of VeriFone Systems Inc. (NYSE:PAY) by 13.1% during the second quarter, Holdings Channel reports. The firm owned 1,827,284 shares of the company’s stock after buying an additional 210,982 shares during the period. Cambiar Investors LLC’s holdings in VeriFone Systems were worth $33,878,000 at the end of the most recent reporting period.
A number of other institutional investors have also made changes to their positions in PAY. Baker Ellis Asset Management LLC increased its position in shares of VeriFone Systems by 4.7% in the first quarter. Baker Ellis Asset Management LLC now owns 14,790 shares of the company’s stock worth $418,000 after buying an additional 660 shares during the period. NN Investment Partners Holdings N.V. increased its position in shares of VeriFone Systems by 4.5% in the second quarter. NN Investment Partners Holdings N.V. now owns 33,319 shares of the company’s stock worth $618,000 after buying an additional 1,425 shares during the period. LS Investment Advisors LLC increased its position in shares of VeriFone Systems by 71.0% in the second quarter. LS Investment Advisors LLC now owns 6,631 shares of the company’s stock worth $123,000 after buying an additional 2,753 shares during the period. Managed Asset Portfolios LLC increased its position in shares of VeriFone Systems by 2.8% in the first quarter. Managed Asset Portfolios LLC now owns 142,710 shares of the company’s stock worth $4,030,000 after buying an additional 3,950 shares during the period. Finally, BlueMountain Capital Management LLC increased its position in shares of VeriFone Systems by 22.5% in the first quarter. BlueMountain Capital Management LLC now owns 30,068 shares of the company’s stock worth $849,000 after buying an additional 5,530 shares during the period. 95.16% of the stock is owned by hedge funds and other institutional investors.
Shares of VeriFone Systems Inc. (NYSE:PAY) traded down 0.19% during mid-day trading on Friday, reaching $15.74. The company’s stock had a trading volume of 1,884,232 shares. The company has a market capitalization of $1.75 billion, a PE ratio of 52.47 and a beta of 1.80. VeriFone Systems Inc. has a 52-week low of $15.46 and a 52-week high of $31.24. The firm’s 50 day moving average is $17.63 and its 200-day moving average is $22.37.
VeriFone Systems (NYSE:PAY) last announced its earnings results on Thursday, September 1st. The company reported $0.42 earnings per share for the quarter, beating the consensus estimate of $0.40 by $0.02. The firm had revenue of $493 million for the quarter, compared to the consensus estimate of $515.44 million. VeriFone Systems had a return on equity of 19.50% and a net margin of 1.64%. The firm’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 EPS. Analysts forecast that VeriFone Systems Inc. will post $1.65 EPS for the current year.
A number of equities analysts recently issued reports on the company. Pacific Crest reaffirmed a “hold” rating on shares of VeriFone Systems in a report on Sunday, September 4th. Wedbush reaffirmed an “outperform” rating and issued a $30.00 price target on shares of VeriFone Systems in a report on Friday, June 17th. Vetr cut VeriFone Systems from a “strong-buy” rating to a “sell” rating and set a $19.34 price objective for the company. in a research note on Thursday, September 1st. Royal Bank Of Canada reduced their price objective on VeriFone Systems from $33.00 to $28.00 and set a “sector perform” rating for the company in a research note on Wednesday, June 8th. Finally, Zacks Investment Research cut VeriFone Systems from a “hold” rating to a “strong sell” rating in a research note on Monday, June 13th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and two have given a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $25.27.
In other news, Director Eitan Raff sold 4,125 shares of the business’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $16.13, for a total value of $66,536.25. Following the sale, the director now owns 15,125 shares of the company’s stock, valued at approximately $243,966.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 1.20% of the company’s stock.
About VeriFone Systems
VeriFone Systems, Inc is engaged in providing electronic payment solutions at the point of sale (POS). The Company designs, manufactures, markets and supplies a range of payment solutions and complementary services that enable secure electronic payment transactions and value-added services at the POS.
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