Palisade Capital Management LLC NJ Buys 49,669 Shares of Verifone Systems, Inc. (PAY)

Palisade Capital Management LLC NJ grew its holdings in shares of Verifone Systems, Inc. (NYSE:PAY) by 6.6% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 799,836 shares of the business services provider’s stock after purchasing an additional 49,669 shares during the period. Palisade Capital Management LLC NJ owned about 0.71% of Verifone Systems worth $16,221,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Legal & General Group Plc increased its stake in shares of Verifone Systems by 76.7% during the first quarter. Legal & General Group Plc now owns 98,467 shares of the business services provider’s stock worth $1,845,000 after buying an additional 42,756 shares during the period. Rhumbline Advisers increased its stake in shares of Verifone Systems by 5.0% during the second quarter. Rhumbline Advisers now owns 228,791 shares of the business services provider’s stock worth $4,141,000 after buying an additional 10,875 shares during the period. Bank of New York Mellon Corp increased its stake in shares of Verifone Systems by 300.1% during the second quarter. Bank of New York Mellon Corp now owns 5,026,621 shares of the business services provider’s stock worth $90,982,000 after buying an additional 3,770,155 shares during the period. BlackRock Inc. increased its stake in shares of Verifone Systems by 13.5% during the second quarter. BlackRock Inc. now owns 16,668,535 shares of the business services provider’s stock worth $301,702,000 after buying an additional 1,982,859 shares during the period. Finally, Metropolitan Life Insurance Co. NY increased its stake in shares of Verifone Systems by 0.3% during the first quarter. Metropolitan Life Insurance Co. NY now owns 108,304 shares of the business services provider’s stock worth $2,029,000 after buying an additional 281 shares during the period.

Verifone Systems, Inc. (NYSE PAY) traded up $0.16 during trading on Monday, reaching $17.91. The company had a trading volume of 1,640,700 shares, compared to its average volume of 1,622,848. The stock has a market cap of $2,002.98, a PE ratio of 22.11, a PEG ratio of 1.31 and a beta of 2.01. Verifone Systems, Inc. has a 1 year low of $15.10 and a 1 year high of $21.48. The company has a current ratio of 1.32, a quick ratio of 1.10 and a debt-to-equity ratio of 1.04.

Verifone Systems (NYSE:PAY) last posted its quarterly earnings data on Thursday, September 7th. The business services provider reported $0.36 EPS for the quarter, hitting analysts’ consensus estimates of $0.36. The firm had revenue of $466.90 million during the quarter, compared to analysts’ expectations of $464.13 million. Verifone Systems had a positive return on equity of 11.19% and a negative net margin of 9.76%. The firm’s quarterly revenue was down 5.2% compared to the same quarter last year. During the same quarter last year, the business posted $0.42 EPS. equities research analysts predict that Verifone Systems, Inc. will post 0.99 EPS for the current fiscal year.

Several brokerages have commented on PAY. Jefferies Group LLC reiterated a “buy” rating and issued a $23.00 price target (up from $20.00) on shares of Verifone Systems in a research note on Monday, September 11th. BidaskClub upgraded shares of Verifone Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded shares of Verifone Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, September 20th. Bank of America Corporation began coverage on shares of Verifone Systems in a research note on Tuesday, September 12th. They issued an “underperform” rating and a $19.00 price target on the stock. Finally, Northcoast Research downgraded Verifone Systems from a “buy” rating to a “neutral” rating in a report on Wednesday, September 6th. One research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. Verifone Systems currently has a consensus rating of “Hold” and a consensus target price of $19.15.

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Verifone Systems Profile

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.

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

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