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.
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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.
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