Sei Investments Co. Sells 226,531 Shares of Verifone Systems, Inc. (NYSE:PAY)

Sei Investments Co. reduced its position in shares of Verifone Systems, Inc. (NYSE:PAY) by 27.3% during the second quarter, Holdings Channel reports. The fund owned 602,155 shares of the business services provider’s stock after selling 226,531 shares during the period. Sei Investments Co.’s holdings in Verifone Systems were worth $10,899,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in the stock. Janney Montgomery Scott LLC boosted its stake in shares of Verifone Systems by 36.0% in the first quarter. Janney Montgomery Scott LLC now owns 25,180 shares of the business services provider’s stock worth $472,000 after buying an additional 6,670 shares during the last quarter. First Mercantile Trust Co. boosted its stake in shares of Verifone Systems by 15.6% in the first quarter. First Mercantile Trust Co. now owns 13,560 shares of the business services provider’s stock worth $254,000 after buying an additional 1,833 shares during the last quarter. DORCHESTER WEALTH MANAGEMENT Co boosted its stake in shares of Verifone Systems by 3.6% in the first quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 127,955 shares of the business services provider’s stock worth $2,397,000 after buying an additional 4,410 shares during the last quarter. Fisher Asset Management LLC acquired a new stake in shares of Verifone Systems during the first quarter worth about $60,167,000. Finally, Nationwide Fund Advisors boosted its stake in shares of Verifone Systems by 1.2% in the first quarter. Nationwide Fund Advisors now owns 186,289 shares of the business services provider’s stock worth $3,489,000 after buying an additional 2,145 shares during the last quarter.

Verifone Systems, Inc. (PAY) opened at 19.21 on Thursday. Verifone Systems, Inc. has a 52 week low of $14.94 and a 52 week high of $20.98. The firm’s 50-day moving average price is $18.86 and its 200 day moving average price is $18.68. The firm’s market cap is $2.15 billion.

Verifone Systems (NYSE:PAY) last announced its quarterly earnings data on Thursday, June 8th. The business services provider reported $0.30 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.30. The company had revenue of $474 million for the quarter, compared to analysts’ expectations of $472.80 million. Verifone Systems had a positive return on equity of 11.55% and a negative net margin of 7.53%. Verifone Systems’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same period last year, the firm posted $0.47 EPS. Equities analysts forecast that Verifone Systems, Inc. will post $1.33 earnings per share for the current fiscal year.

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A number of brokerages have recently issued reports on PAY. BidaskClub cut shares of Verifone Systems from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Zacks Investment Research raised shares of Verifone Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, August 2nd. Royal Bank Of Canada reduced their target price on shares of Verifone Systems from $23.00 to $20.00 and set a “sector perform” rating for the company in a research report on Friday, June 9th. Imperial Capital reduced their target price on shares of Verifone Systems from $20.00 to $19.00 and set an “in-line” rating for the company in a research report on Tuesday, June 13th. Finally, BTIG Research reissued a “neutral” rating on shares of Verifone Systems in a research report on Monday, June 12th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $18.73.

About Verifone Systems

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.

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Institutional Ownership by Quarter for Verifone Systems (NYSE:PAY)

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