Published On: Fri, Sep 9th, 2016

VeriFone Systems Inc. (PAY) Now Covered by BTIG Research

Stock analysts at BTIG Research assumed coverage on shares of VeriFone Systems Inc. (NYSE:PAY) in a research note issued to investors on Friday. The brokerage set a “buy” rating on the stock.
A number of other equities analysts have also recently weighed in on PAY. Piper Jaffray Cos. reissued a “buy” rating and issued a $38.00 price target on shares of VeriFone Systems in a research note on Wednesday, June 1st. Morgan Stanley reissued a “hold” rating on shares of VeriFone Systems in a research note on Monday, June 6th. Pacific Crest reissued a “buy” rating and issued a $36.00 price target on shares of VeriFone Systems in a research note on Monday, June 6th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $28.00 price target (down previously from $31.00) on shares of VeriFone Systems in a research note on Wednesday, June 8th. Finally, Barclays PLC cut VeriFone Systems from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $37.00 to $23.00 in a research note on Wednesday, June 8th. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the company. The stock presently has an average rating of “Hold” and an average target price of $26.16.
Shares of VeriFone Systems (NYSE:PAY) opened at 17.18 on Friday. The firm has a market cap of $1.91 billion, a P/E ratio of 57.27 and a beta of 1.80. The firm has a 50-day moving average of $18.98 and a 200 day moving average of $23.34. VeriFone Systems has a 12 month low of $16.07 and a 12 month high of $31.24.

This story is the sole property of American Banking News and it was originally published by American Banking News. If you are reading this story on another website, that means this article was illegally copied and re-published to this website in violation of U.S. and International copyright law. The original version of this article is available at http://www.americanbankingnews.com/2016/09/09/verifone-systems-inc-pay-now-covered-by-btig-research.html

VeriFone Systems (NYSE:PAY) last released its earnings results on Thursday, September 1st. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. The firm had revenue of $493 million for the quarter, compared to analyst estimates of $515.44 million. During the same period in the previous year, the firm earned $0.47 earnings per share. VeriFone Systems’s revenue was down 3.3% on a year-over-year basis. On average, equities research analysts anticipate that VeriFone Systems will post $1.68 EPS for the current fiscal year.
A number of large investors recently bought and sold shares of PAY. Parametrica Management Ltd bought a new stake in VeriFone Systems during the first quarter valued at $213,000. Ramsey Quantitative Systems raised its stake in VeriFone Systems by 5.5% in the first quarter. Ramsey Quantitative Systems now owns 20,924 shares of the company’s stock valued at $591,000 after buying an additional 1,085 shares during the period. Aperio Group LLC raised its stake in VeriFone Systems by 47.6% in the first quarter. Aperio Group LLC now owns 21,746 shares of the company’s stock valued at $614,000 after buying an additional 7,012 shares during the period. Apex Capital Management bought a new stake in VeriFone Systems during the first quarter valued at $13,407,000. Finally, Sii Investments Inc. WI raised its stake in VeriFone Systems by 5.1% in the first quarter. Sii Investments Inc. WI now owns 44,224 shares of the company’s stock valued at $1,249,000 after buying an additional 2,143 shares during the period. Hedge funds and other institutional investors own 97.06% of the company’s stock.
VeriFone Systems Company Profile
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.

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.

Leave a comment

XHTML: You can use these html tags: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>