California State Teachers Retirement System cut its stake in shares of Verifone Systems, Inc. (NYSE:PAY) by 9.1% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 197,353 shares of the business services provider’s stock after selling 19,776 shares during the period. California State Teachers Retirement System owned 0.18% of Verifone Systems worth $3,572,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. UBS Asset Management Americas Inc. increased its stake in shares of Verifone Systems by 14.2% during the first quarter. UBS Asset Management Americas Inc. now owns 92,095 shares of the business services provider’s stock worth $1,725,000 after purchasing an additional 11,417 shares during the period. JPMorgan Chase & Co. boosted its holdings in shares of Verifone Systems by 5.6% in the 1st quarter. JPMorgan Chase & Co. now owns 72,890 shares of the business services provider’s stock valued at $1,365,000 after purchasing an additional 3,890 shares in the last quarter. OppenheimerFunds Inc. boosted its holdings in shares of Verifone Systems by 12.6% in the 1st quarter. OppenheimerFunds Inc. now owns 26,012 shares of the business services provider’s stock valued at $487,000 after purchasing an additional 2,901 shares in the last quarter. Legal & General Group Plc boosted its holdings in shares of Verifone Systems by 76.7% during the 1st quarter. Legal & General Group Plc now owns 98,467 shares of the business services provider’s stock valued at $1,845,000 after acquiring an additional 42,756 shares in the last quarter. Finally, Thrivent Financial For Lutherans boosted its holdings in shares of Verifone Systems by 10.6% during the 1st quarter. Thrivent Financial For Lutherans now owns 20,950 shares of the business services provider’s stock valued at $392,000 after acquiring an additional 2,000 shares in the last quarter.

Shares of Verifone Systems, Inc. (NYSE PAY) opened at $18.08 on Tuesday. The stock has a market cap of $2,025.35, a PE ratio of 22.36, a price-to-earnings-growth ratio of 1.33 and a beta of 2.01. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.32 and a quick ratio of 1.10. Verifone Systems, Inc. has a 52-week low of $15.10 and a 52-week high of $21.48.

Verifone Systems (NYSE:PAY) last announced its quarterly earnings results on Thursday, September 7th. The business services provider reported $0.36 earnings per share for the quarter, hitting the consensus estimate of $0.36. The firm had revenue of $466.90 million during the quarter, compared to analysts’ expectations of $464.13 million. Verifone Systems had a negative net margin of 9.76% and a positive return on equity of 11.19%. The company’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.42 EPS. equities research analysts anticipate that Verifone Systems, Inc. will post 0.99 earnings per share for the current year.

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Several research analysts have recently weighed in on the company. Barclays PLC reissued a “hold” rating and issued a $22.00 price objective on shares of Verifone Systems in a research report on Friday, September 29th. BidaskClub downgraded Verifone Systems from a “hold” rating to a “sell” rating in a research note on Wednesday, August 16th. Zacks Investment Research downgraded Verifone Systems from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. Bank of America Corporation started coverage on Verifone Systems in a research note on Tuesday, September 12th. They issued an “underperform” rating and a $19.00 target price on the stock. Finally, BTIG Research reiterated a “hold” rating on shares of Verifone Systems in a research note on Monday, September 11th. One investment analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $19.15.

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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Institutional Ownership by Quarter for Verifone Systems (NYSE:PAY)

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