VeriFone Systems Inc. (NYSE:PAY) has been assigned an average rating of “Hold” from the twenty-five analysts that are presently covering the company. Two analysts have rated the stock with a sell recommendation, fifteen have given a hold recommendation, six have assigned a buy recommendation and two have given a strong buy recommendation to the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $23.68.
Several equities analysts have weighed in on the company. Pacific Crest reaffirmed a “hold” rating on shares of VeriFone Systems in a research note on Sunday, September 4th. Wedbush reiterated an “outperform” rating and set a $30.00 price target on shares of VeriFone Systems in a report on Friday, June 17th. Vetr lowered VeriFone Systems from a “strong-buy” rating to a “sell” rating and set a $19.34 price target for the company. in a report on Thursday, September 1st. Royal Bank Of Canada reduced their price target on VeriFone Systems from $33.00 to $28.00 and set a “sector perform” rating for the company in a report on Wednesday, June 8th. Finally, Zacks Investment Research lowered VeriFone Systems from a “hold” rating to a “strong sell” rating in a report on Monday, June 13th.
Shares of VeriFone Systems (NYSE:PAY) opened at 15.74 on Wednesday. VeriFone Systems has a 52-week low of $15.46 and a 52-week high of $31.24. The firm has a market cap of $1.75 billion, a P/E ratio of 52.47 and a beta of 2.04. The stock’s 50 day moving average is $17.55 and its 200-day moving average is $22.28.
VeriFone Systems (NYSE:PAY) last released its earnings results on Thursday, September 1st. The company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. VeriFone Systems had a return on equity of 19.50% and a net margin of 1.64%. The company had revenue of $493 million for the quarter, compared to analysts’ expectations of $515.44 million. During the same quarter in the previous year, the business posted $0.47 EPS. The business’s revenue for the quarter was down 3.3% on a year-over-year basis. Equities analysts anticipate that VeriFone Systems will post $1.65 earnings per share for the current fiscal year.
In other news, Director Eitan Raff sold 4,125 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The stock was sold at an average price of $16.13, for a total transaction of $66,536.25. Following the sale, the director now directly owns 15,125 shares in the company, valued at $243,966.25. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert W. Alspaugh sold 8,250 shares of the business’s stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $15.81, for a total value of $130,432.50. Following the sale, the director now owns 17,250 shares in the company, valued at $272,722.50. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in the stock. Water Island Capital LLC purchased a new stake in VeriFone Systems during the second quarter worth about $121,000. Acrospire Investment Management LLC boosted 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 in the last quarter. LS Investment Advisors LLC boosted 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 in the last quarter. Creative Planning purchased a new stake in VeriFone Systems during the second quarter worth about $132,000. Finally, BlackRock Japan Co. Ltd purchased a new stake in VeriFone Systems during the second quarter worth about $135,000. Institutional investors and hedge funds own 95.16% of the company’s stock.
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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