Legal & General Group Plc Acquires 14,702 Shares of Verifone Systems, Inc. (PAY)
Legal & General Group Plc increased its holdings in shares of Verifone Systems, Inc. (NYSE:PAY) by 14.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 113,169 shares of the business services provider’s stock after acquiring an additional 14,702 shares during the quarter. Legal & General Group Plc owned about 0.10% of Verifone Systems worth $2,048,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. FNY Managed Accounts LLC acquired a new position in Verifone Systems during the first quarter worth about $131,000. Bank of Montreal Can boosted its position in Verifone Systems by 21.0% during the first quarter. Bank of Montreal Can now owns 7,379 shares of the business services provider’s stock worth $138,000 after acquiring an additional 1,281 shares during the last quarter. LS Investment Advisors LLC boosted its position in Verifone Systems by 22.3% during the second quarter. LS Investment Advisors LLC now owns 9,213 shares of the business services provider’s stock worth $167,000 after acquiring an additional 1,679 shares during the last quarter. Shelton Capital Management acquired a new position in Verifone Systems during the first quarter worth about $203,000. Finally, NGAM Advisors L.P. boosted its position in Verifone Systems by 5.2% during the second quarter. NGAM Advisors L.P. now owns 12,628 shares of the business services provider’s stock worth $229,000 after acquiring an additional 622 shares during the last quarter.
Shares of Verifone Systems, Inc. (PAY) opened at 20.45 on Friday. The stock’s market capitalization is $2.29 billion. The company’s 50-day moving average is $19.52 and its 200 day moving average is $18.74. Verifone Systems, Inc. has a 52 week low of $14.94 and a 52 week high of $21.48.
Verifone Systems (NYSE:PAY) last released its earnings results on Thursday, September 7th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. Verifone Systems had a negative net margin of 9.76% and a positive return on equity of 11.19%. The business had revenue of $466.90 million for the quarter, compared to analysts’ expectations of $464.13 million. During the same period last year, the company earned $0.42 earnings per share. The company’s quarterly revenue was down 5.2% on a year-over-year basis. On average, equities analysts forecast that Verifone Systems, Inc. will post $1.30 EPS for the current fiscal year.
A number of research firms recently weighed in on PAY. Zacks Investment Research upgraded shares of Verifone Systems from a “sell” rating to a “hold” rating in a research report on Wednesday. Citigroup Inc. assumed coverage on shares of Verifone Systems in a report on Friday, September 15th. They issued a “neutral” rating and a $23.00 target price on the stock. Bank of America Corporation assumed coverage on shares of Verifone Systems in a report on Tuesday, September 12th. They issued an “underperform” rating and a $19.00 target price on the stock. BTIG Research reiterated a “hold” rating on shares of Verifone Systems in a report on Monday, September 11th. Finally, Jefferies Group LLC reiterated a “buy” rating and issued a $23.00 target price (up from $20.00) on shares of Verifone Systems in a report on Monday, September 11th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $19.08.
Verifone Systems Company Profile
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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