Nicolet Bankshares Inc. boosted its stake in VeriFone Systems Inc. (NYSE:PAY) by 19.4% during the second quarter, according to its most recent disclosure with the SEC. The fund owned 12,010 shares of the company’s stock after buying an additional 1,955 shares during the period. Nicolet Bankshares Inc.’s holdings in VeriFone Systems were worth $223,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of the company. Whittier Trust Co. boosted its position in shares of VeriFone Systems by 45.2% in the second quarter. Whittier Trust Co. now owns 67,084 shares of the company’s stock valued at $1,243,000 after buying an additional 20,876 shares in the last quarter. Baker Ellis Asset Management LLC boosted its position in VeriFone Systems by 6.1% in the second quarter. Baker Ellis Asset Management LLC now owns 15,690 shares of the company’s stock worth $291,000 after buying an additional 900 shares during the period. Cambiar Investors LLC boosted its position in VeriFone Systems by 13.1% in the second quarter. Cambiar Investors LLC now owns 1,827,284 shares of the company’s stock worth $33,878,000 after buying an additional 210,982 shares during the period. Capital Fund Management S.A. boosted its position in VeriFone Systems by 353.6% in the second quarter. Capital Fund Management S.A. now owns 190,110 shares of the company’s stock worth $3,525,000 after buying an additional 148,201 shares during the period. Finally, GW&K Investment Management LLC boosted its position in VeriFone Systems by 15.9% in the second quarter. GW&K Investment Management LLC now owns 397,608 shares of the company’s stock worth $7,372,000 after buying an additional 54,663 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 0.26% during mid-day trading on Friday, reaching $15.08. The company’s stock had a trading volume of 2,212,610 shares. VeriFone Systems Inc. has a 12 month low of $14.94 and a 12 month high of $31.24. The company has a 50 day moving average price of $16.72 and a 200 day moving average price of $21.54. The stock has a market capitalization of $1.67 billion, a P/E ratio of 50.27 and a beta of 2.04.
VeriFone Systems (NYSE:PAY) last announced its quarterly earnings data on Thursday, September 1st. The company reported $0.42 earnings per share (EPS) for the quarter, topping 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 business earned $493 million during the quarter, compared to analyst estimates of $515.44 million. During the same period last year, the company earned $0.47 earnings per share. VeriFone Systems’s quarterly revenue was down 3.3% compared to the same quarter last year. On average, equities research analysts anticipate that VeriFone Systems Inc. will post $1.65 earnings per share for the current fiscal year.
A number of equities analysts have recently weighed in on the company. Morgan Stanley cut their price target on VeriFone Systems from $23.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, September 20th. Stifel Nicolaus reissued a “buy” rating and issued a $18.00 price target on shares of VeriFone Systems in a report on Friday, September 16th. Imperial Capital cut VeriFone Systems from an “outperform” rating to an “in-line” rating and cut their price target for the stock from $24.00 to $18.00 in a report on Monday, September 12th. BTIG Research assumed coverage on VeriFone Systems in a report on Friday, September 9th. They issued a “buy” rating and a $21.00 price target for the company. Finally, Zacks Investment Research cut VeriFone Systems from a “buy” rating to a “strong sell” rating in a report on Thursday, September 8th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have assigned a buy rating and two have given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $24.85.
In other VeriFone Systems news, Director Eitan Raff sold 4,125 shares of the firm’s stock in a transaction dated Monday, September 26th. The stock was sold at an average price of $16.13, for a total transaction of $66,536.25. Following the transaction, the director now directly owns 15,125 shares in the company, valued at $243,966.25. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Robert W. Alspaugh sold 8,250 shares of the firm’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $15.81, for a total value of $130,432.50. Following the transaction, the director now owns 17,250 shares in the company, valued at $272,722.50. The disclosure for this sale can be found here. Corporate 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.
Want to see what other hedge funds are holding PAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for VeriFone Systems Inc. (NYSE:PAY).
Receive News & Ratings for VeriFone Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VeriFone Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.