VeriFone Systems Inc. (NYSE:PAY) had its price objective decreased by equities research analysts at Morgan Stanley from $23.00 to $16.00 in a research report issued to clients and investors on Tuesday. The firm presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential downside of 0.25% from the company’s current price.

Other analysts have also recently issued research reports about the stock. Jefferies Group reaffirmed a “buy” rating and issued a $40.00 target price on shares of VeriFone Systems in a report on Wednesday, June 8th. Stifel Nicolaus reduced their target price on shares of VeriFone Systems from $40.00 to $26.00 and set a “buy” rating on the stock in a report on Wednesday, June 8th. Pacific Crest reissued a “buy” rating and set a $36.00 price objective on shares of VeriFone Systems in a report on Monday, June 6th. Piper Jaffray Cos. reissued a “buy” rating and set a $38.00 price objective on shares of VeriFone Systems in a report on Wednesday, June 1st. Finally, SunTrust Banks Inc. cut their price objective on shares of VeriFone Systems from $37.00 to $24.00 and set a “buy” rating on the stock in a report on Wednesday, June 8th. Two equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating, six have given a buy rating and two have issued a strong buy rating to the company. VeriFone Systems presently has a consensus rating of “Hold” and an average price target of $25.27.

Analyst Recommendations for VeriFone Systems (NYSE:PAY)

Shares of VeriFone Systems (NYSE:PAY) opened at 16.04 on Tuesday. The stock has a market capitalization of $1.78 billion, a P/E ratio of 53.47 and a beta of 1.80. VeriFone Systems has a one year low of $15.95 and a one year high of $31.24. The company’s 50-day moving average is $18.38 and its 200-day moving average is $22.92.

VeriFone Systems (NYSE:PAY) last issued its earnings results on Thursday, September 1st. The company reported $0.42 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The firm had revenue of $493 million for the quarter, compared to analysts’ expectations of $515.44 million. VeriFone Systems had a net margin of 1.64% and a return on equity of 19.50%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. On average, equities research analysts anticipate that VeriFone Systems will post $1.65 earnings per share for the current year.

Large investors have recently added to or reduced their stakes in the company. Jackson Square Partners LLC raised its stake in VeriFone Systems by 10.4% in the first quarter. Jackson Square Partners LLC now owns 10,999,485 shares of the company’s stock valued at $403,224,000 after buying an additional 1,037,198 shares in the last quarter. BlackRock Fund Advisors increased its position in shares of VeriFone Systems by 4.5% in the second quarter. BlackRock Fund Advisors now owns 3,812,645 shares of the company’s stock valued at $70,686,000 after buying an additional 164,054 shares during the last quarter. BlackRock Institutional Trust Company N.A. increased its position in shares of VeriFone Systems by 5.7% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 3,415,052 shares of the company’s stock valued at $63,315,000 after buying an additional 184,270 shares during the last quarter. Alliancebernstein L.P. increased its position in shares of VeriFone Systems by 57.6% in the second quarter. Alliancebernstein L.P. now owns 3,180,435 shares of the company’s stock valued at $58,965,000 after buying an additional 1,162,250 shares during the last quarter. Finally, Wellington Management Group LLP increased 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 valued at $89,008,000 after buying an additional 812,811 shares during the last quarter. Institutional investors and hedge funds own 95.52% 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.

5 Day Chart for NYSE:PAY

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