VeriFone Systems Inc. (NYSE:PAY) Director Robert W. Alspaugh sold 8,250 shares of the firm’s stock in a transaction that occurred on Thursday, September 29th. The stock was sold at an average price of $15.81, for a total transaction of $130,432.50. Following the completion of the transaction, the director now directly owns 17,250 shares of the company’s stock, valued at $272,722.50. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.
Shares of VeriFone Systems Inc. (NYSE:PAY) opened at 15.74 on Friday. The company has a market cap of $1.75 billion, a price-to-earnings ratio of 52.47 and a beta of 1.80. The company’s 50-day moving average is $17.55 and its 200 day moving average is $22.28. VeriFone Systems Inc. has a 1-year low of $15.46 and a 1-year high of $31.24.
VeriFone Systems (NYSE:PAY) last released its earnings results on Thursday, September 1st. The company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. VeriFone Systems had a net margin of 1.64% and a return on equity of 19.50%. The firm had revenue of $493 million for the quarter, compared to analyst estimates of $515.44 million. During the same period in the prior year, the firm earned $0.47 earnings per share. The business’s quarterly revenue was down 3.3% compared to the same quarter last year. Equities analysts anticipate that VeriFone Systems Inc. will post $1.65 EPS for the current year.
Several hedge funds have recently added to or reduced their stakes in the company. Water Island Capital LLC purchased a new stake in VeriFone Systems during the second quarter worth $121,000. Acrospire Investment Management LLC raised its stake in VeriFone Systems by 112.9% in the second quarter. Acrospire Investment Management LLC now owns 6,600 shares of the company’s stock worth $122,000 after buying an additional 3,500 shares during the last quarter. LS Investment Advisors LLC raised its stake in 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 last quarter. Creative Planning purchased a new stake in VeriFone Systems during the second quarter worth $132,000. Finally, BlackRock Japan Co. Ltd purchased a new stake in VeriFone Systems during the second quarter worth $135,000. Hedge funds and other institutional investors own 95.16% of the company’s stock.
PAY has been the subject of several analyst reports. Jefferies Group reaffirmed a “buy” rating and issued a $40.00 price objective on shares of VeriFone Systems in a report on Wednesday, June 8th. Stifel Nicolaus cut their price target on shares of VeriFone Systems from $40.00 to $26.00 and set a “buy” rating for the company in a report on Wednesday, June 8th. Pacific Crest reissued a “buy” rating and issued a $36.00 price target on shares of VeriFone Systems in a report on Monday, June 6th. SunTrust Banks Inc. cut their price target on shares of VeriFone Systems from $37.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, June 8th. Finally, Piper Jaffray Cos. reissued a “buy” rating and issued a $27.00 price target (down from $38.00) on shares of VeriFone Systems in a report on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $24.85.
VeriFone Systems Company Profile
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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