Verifone Systems, Inc. (PAY) Downgraded by BidaskClub

BidaskClub downgraded shares of Verifone Systems, Inc. (NYSE:PAY) from a hold rating to a sell rating in a report issued on Wednesday.

A number of other research analysts have also recently issued reports on PAY. Zacks Investment Research cut Verifone Systems from a hold rating to a sell rating in a research note on Tuesday, May 23rd. Royal Bank Of Canada decreased their price target on Verifone Systems from $23.00 to $20.00 and set a sector perform rating for the company in a research note on Friday, June 9th. Barclays PLC restated an equal weight rating and issued a $20.00 price target (down previously from $22.00) on shares of Verifone Systems in a research note on Sunday, June 11th. BTIG Research restated a neutral rating on shares of Verifone Systems in a research note on Monday, June 12th. Finally, Imperial Capital decreased their price target on Verifone Systems from $20.00 to $19.00 and set an in-line rating for the company in a research note on Tuesday, June 13th. Three research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company. The company has a consensus rating of Hold and a consensus target price of $18.73.

Shares of Verifone Systems (NYSE PAY) traded up 0.80% during midday trading on Wednesday, reaching $18.92. The company had a trading volume of 1,056,626 shares. The company’s market capitalization is $2.12 billion. Verifone Systems has a one year low of $14.94 and a one year high of $20.98. The company has a 50-day moving average price of $19.05 and a 200 day moving average price of $18.70.

Verifone Systems (NYSE:PAY) last announced its quarterly earnings data on Thursday, June 8th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, meeting the Zacks’ 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 quarterly revenue was down 9.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.47 earnings per share. Equities analysts anticipate that Verifone Systems will post $1.33 earnings per share for the current fiscal year.

ILLEGAL ACTIVITY NOTICE: “Verifone Systems, Inc. (PAY) Downgraded by BidaskClub” was first posted by BNB Daily and is the sole property of of BNB Daily. If you are reading this story on another site, it was illegally stolen and reposted in violation of U.S. & international trademark and copyright laws. The legal version of this story can be read at https://www.baseball-news-blog.com/2017/08/19/verifone-systems-inc-pay-downgraded-by-bidaskclub.html.

Hedge funds have recently modified their holdings of the company. Riverhead Capital Management LLC raised its stake in shares of Verifone Systems by 80.9% in the second quarter. Riverhead Capital Management LLC now owns 6,693 shares of the business services provider’s stock valued at $121,000 after buying an additional 2,993 shares during the last quarter. FNY Managed Accounts LLC purchased a new stake in shares of Verifone Systems during the first quarter valued at approximately $131,000. Bank of Montreal Can raised its stake in shares of Verifone Systems by 21.0% in the first quarter. Bank of Montreal Can now owns 7,379 shares of the business services provider’s stock valued at $138,000 after buying an additional 1,281 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of Verifone Systems by 22.3% in the second quarter. LS Investment Advisors LLC now owns 9,213 shares of the business services provider’s stock valued at $167,000 after buying an additional 1,679 shares during the last quarter. Finally, Shelton Capital Management purchased a new stake in shares of Verifone Systems during the first quarter valued at approximately $203,000.

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.

Analyst Recommendations for Verifone Systems (NYSE:PAY)

Receive News & Ratings for Verifone Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verifone Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply