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.
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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.
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