VeriFone Systems (NYSE:PAY)‘s stock had its “hold” rating reiterated by stock analysts at Argus in a report issued on Tuesday, December 26th.
PAY has been the topic of a number of other reports. Tigress Financial reissued a “buy” rating on shares of VeriFone Systems in a research note on Tuesday, December 19th. Raymond James Financial downgraded VeriFone Systems from a “strong-buy” rating to an “outperform” rating in a research note on Sunday, November 26th. Credit Suisse Group raised their target price on VeriFone Systems from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, December 13th. Citigroup started coverage on VeriFone Systems in a report on Friday, September 15th. They issued a “neutral” rating and a $23.00 target price on the stock. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and issued a $20.00 target price on shares of VeriFone Systems in a report on Friday, September 8th. Two research analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have given a buy rating to the company’s stock. VeriFone Systems currently has a consensus rating of “Hold” and a consensus price target of $20.02.
VeriFone Systems (NYSE:PAY) traded down $0.06 during trading hours on Tuesday, hitting $17.89. The company had a trading volume of 855,193 shares, compared to its average volume of 1,150,308. VeriFone Systems has a fifty-two week low of $16.80 and a fifty-two week high of $21.48. The firm has a market cap of $2,034.05, a price-to-earnings ratio of -11.54, a price-to-earnings-growth ratio of 1.45 and a beta of 1.96. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.33 and a quick ratio of 1.09.
VeriFone Systems (NYSE:PAY) last announced its quarterly earnings data on Tuesday, December 12th. The business services provider reported $0.44 EPS for the quarter, topping the Zacks’ consensus estimate of $0.43 by $0.01. VeriFone Systems had a positive return on equity of 13.52% and a negative net margin of 9.29%. The firm had revenue of $477.00 million during the quarter, compared to analyst estimates of $472.33 million. During the same period last year, the company posted $0.30 EPS. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. analysts anticipate that VeriFone Systems will post 1.2 EPS for the current year.
VeriFone Systems declared that its board has initiated a share repurchase plan on Tuesday, December 12th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Hedge funds have recently bought and sold shares of the company. Zions Bancorporation acquired a new position in shares of VeriFone Systems during the third quarter worth about $108,000. Riverhead Capital Management LLC boosted its position in shares of VeriFone Systems by 80.9% during the second quarter. Riverhead Capital Management LLC now owns 6,693 shares of the business services provider’s stock worth $121,000 after buying an additional 2,993 shares during the period. Timber Hill LLC acquired a new position in shares of VeriFone Systems during the second quarter worth about $214,000. Carret Asset Management LLC boosted its position in shares of VeriFone Systems by 22.1% during the second quarter. Carret Asset Management LLC now owns 14,100 shares of the business services provider’s stock worth $255,000 after buying an additional 2,550 shares during the period. Finally, Turner Investments LLC acquired a new position in shares of VeriFone Systems during the third quarter worth about $284,000.
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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