Envestnet Asset Management Inc. increased its stake in Verifone Systems, Inc. (NYSE:PAY) by 30.6% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,901 shares of the business services provider’s stock after buying an additional 7,238 shares during the period. Envestnet Asset Management Inc.’s holdings in Verifone Systems were worth $578,000 at the end of the most recent quarter.
Other hedge funds have also bought and sold shares of the company. Renaissance Technologies LLC bought a new position in shares of Verifone Systems during the fourth quarter worth approximately $11,069,000. Dimensional Fund Advisors LP increased its position in shares of Verifone Systems by 10.7% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,007,940 shares of the business services provider’s stock worth $35,600,000 after buying an additional 193,927 shares in the last quarter. Bbva Compass Bancshares Inc. increased its position in shares of Verifone Systems by 6.1% in the first quarter. Bbva Compass Bancshares Inc. now owns 19,399 shares of the business services provider’s stock worth $363,000 after buying an additional 1,109 shares in the last quarter. 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 valued at $3,489,000 after buying an additional 2,145 shares during the last quarter. Finally, Capital Investment Services of America Inc. boosted its stake in Verifone Systems by 22.3% in the first quarter. Capital Investment Services of America Inc. now owns 331,279 shares of the business services provider’s stock worth $6,205,000 after buying an additional 60,354 shares during the last quarter.
Shares of Verifone Systems, Inc. (NYSE PAY) traded down 0.05% during mid-day trading on Monday, reaching $19.71. 960,531 shares of the company’s stock traded hands. The firm has a 50-day moving average price of $17.91 and a 200-day moving average price of $18.49. Verifone Systems, Inc. has a 1-year low of $14.94 and a 1-year high of $20.98. The company’s market capitalization is $2.20 billion.
Verifone Systems (NYSE:PAY) last released its quarterly earnings results on Thursday, June 8th. The business services provider reported $0.30 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.30. The business had revenue of $474 million during 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%. The firm’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. On average, equities research analysts forecast that Verifone Systems, Inc. will post $1.33 earnings per share for the current fiscal year.
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PAY has been the subject of a number of research analyst reports. BMO Capital Markets decreased their price target on shares of Verifone Systems from $21.00 to $20.00 and set a “market perform” rating for the company in a report on Friday, June 16th. Tigress Financial initiated coverage on shares of Verifone Systems in a research report on Monday, March 27th. They set a “buy” rating on the stock. Zacks Investment Research cut shares of Verifone Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, May 23rd. Royal Bank Of Canada dropped their price objective on shares of Verifone Systems from $23.00 to $20.00 and set a “sector perform” rating for the company in a report on Friday, June 9th. Finally, Barclays PLC reiterated an “equal weight” rating and set a $20.00 price target (down previously from $22.00) on shares of Verifone Systems in a report on Sunday, June 11th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus target price of $18.73.
Verifone Systems Company 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.
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