Shares of VeriFone Systems Inc (NYSE:PAY) have earned an average rating of “Hold” from the nineteen analysts that are presently covering the company, Marketbeat reports. Two analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating on the company. The average 12 month target price among brokers that have issued a report on the stock in the last year is $19.91.
PAY has been the topic of a number of research reports. Zacks Investment Research cut VeriFone Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, November 15th. UBS Group cut VeriFone Systems from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, November 16th. Raymond James Financial cut VeriFone Systems from a “strong-buy” rating to an “outperform” rating and decreased their price target for the stock from $25.00 to $22.00 in a research note on Thursday, November 16th. Credit Suisse Group upped their price target on VeriFone Systems from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 13th. Finally, Barclays restated a “hold” rating and set a $21.00 price target on shares of VeriFone Systems in a research note on Friday, December 15th.
VeriFone Systems (NYSE:PAY) traded down $0.33 on Tuesday, reaching $17.08. The company had a trading volume of 2,200,000 shares, compared to its average volume of 1,180,000. VeriFone Systems has a 12-month low of $16.00 and a 12-month high of $21.48. The firm has a market capitalization of $1,920.00, a PE ratio of -11.02, a PEG ratio of 1.74 and a beta of 1.79. The company has a quick ratio of 1.09, a current ratio of 1.33 and a debt-to-equity ratio of 0.97.
VeriFone Systems (NYSE:PAY) last released its quarterly earnings data on Tuesday, December 12th. The business services provider reported $0.44 EPS for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $472.33 million. During the same period in the prior year, the firm posted $0.30 earnings per share. The firm’s quarterly revenue was up 2.8% on a year-over-year basis. equities analysts predict that VeriFone Systems will post 1.2 earnings per share for the current year.
VeriFone Systems announced that its Board of Directors has initiated a stock repurchase plan on Tuesday, December 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Management Associates NY acquired a new stake in shares of VeriFone Systems in the third quarter valued at $375,000. DORCHESTER WEALTH MANAGEMENT Co raised its stake in shares of VeriFone Systems by 5.5% in the fourth quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 168,255 shares of the business services provider’s stock valued at $2,980,000 after acquiring an additional 8,795 shares in the last quarter. SG Americas Securities LLC raised its stake in shares of VeriFone Systems by 763.1% in the third quarter. SG Americas Securities LLC now owns 74,552 shares of the business services provider’s stock valued at $1,512,000 after acquiring an additional 65,914 shares in the last quarter. California Public Employees Retirement System increased its holdings in VeriFone Systems by 1.6% in the third quarter. California Public Employees Retirement System now owns 1,147,906 shares of the business services provider’s stock valued at $23,280,000 after buying an additional 18,306 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in VeriFone Systems by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,136,368 shares of the business services provider’s stock valued at $56,768,000 after buying an additional 87,063 shares during the last quarter.
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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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