VeriFone Systems Inc. (NYSE:PAY) was downgraded by equities researchers at Imperial Capital to a “hold” rating in a research report issued to clients and investors on Monday. They presently have a $18.00 target price on the stock. Imperial Capital’s target price indicates a potential upside of 7.59% from the company’s previous close.
A number of other research firms have also recently commented on PAY. Deutsche Bank AG reiterated a “hold” rating and set a $15.00 target price (down previously from $19.00) on shares of VeriFone Systems in a research report on Friday, September 2nd. Stifel Nicolaus cut their target price on VeriFone Systems from $26.00 to $18.00 and set a “neutral” rating on the stock in a research report on Friday, September 2nd. Piper Jaffray Cos. reiterated a “buy” rating and set a $38.00 target price on shares of VeriFone Systems in a research report on Wednesday, June 1st. TheStreet cut VeriFone Systems from a “hold” rating to a “sell” rating in a research report on Thursday, September 1st. Finally, Pacific Crest reiterated a “hold” rating on shares of VeriFone Systems in a research report on Sunday, September 4th. Two investment analysts have rated the stock with a sell rating, sixteen have given a hold rating, five have issued a buy rating and two have assigned a strong buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $25.68.
VeriFone Systems (NYSE:PAY) opened at 16.73 on Monday. The firm’s 50-day moving average price is $18.91 and its 200-day moving average price is $23.29. The stock has a market cap of $1.86 billion, a P/E ratio of 55.77 and a beta of 1.80. VeriFone Systems has a 12 month low of $16.07 and a 12 month high of $31.24.
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VeriFone Systems (NYSE:PAY) last announced its quarterly earnings results on Thursday, September 1st. The company reported $0.42 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. The company earned $493 million during the quarter, compared to the consensus estimate of $515.44 million. VeriFone Systems had a return on equity of 19.50% and a net margin of 1.64%. VeriFone Systems’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. On average, analysts predict that VeriFone Systems will post $1.68 earnings per share for the current year.
Hedge funds and other institutional investors have recently modified their holdings of the company. Wellington Management Group LLP raised its position in shares of VeriFone Systems by 34.8% in the first quarter. Wellington Management Group LLP now owns 3,151,833 shares of the company’s stock worth $89,008,000 after buying an additional 812,811 shares in the last quarter. BlackRock Inc. raised its position in shares of VeriFone Systems by 19.5% in the first quarter. BlackRock Inc. now owns 48,822 shares of the company’s stock worth $1,379,000 after buying an additional 7,951 shares in the last quarter. Ramsey Quantitative Systems raised its position in shares of VeriFone Systems by 5.5% in the first quarter. Ramsey Quantitative Systems now owns 20,924 shares of the company’s stock worth $591,000 after buying an additional 1,085 shares in the last quarter. GW&K Investment Management LLC raised its position in shares of VeriFone Systems by 33.1% in the first quarter. GW&K Investment Management LLC now owns 342,945 shares of the company’s stock worth $9,685,000 after buying an additional 85,215 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of VeriFone Systems during the first quarter worth $1,096,000. 95.52% of the stock is currently owned by institutional investors.
About VeriFone Systems
VeriFone Systems, Inc is engaged in providing electronic payment solutions at the point of sale (POS). The Company designs, manufactures, markets and supplies a range of payment solutions and complementary services that enable secure electronic payment transactions and value-added services at the POS.
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