Palisade Capital Management LLC NJ raised its holdings in shares of Verifone Systems, Inc. (NYSE:PAY) by 6.6% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 799,836 shares of the business services provider’s stock after purchasing an additional 49,669 shares during the quarter. Palisade Capital Management LLC NJ owned 0.71% of Verifone Systems worth $16,221,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in PAY. Legal & General Group Plc boosted its holdings in 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 worth $1,845,000 after acquiring an additional 42,756 shares during the last quarter. Rhumbline Advisers boosted its holdings in shares of Verifone Systems by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 228,791 shares of the business services provider’s stock worth $4,141,000 after buying an additional 10,875 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Verifone Systems by 300.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,026,621 shares of the business services provider’s stock worth $90,982,000 after buying an additional 3,770,155 shares during the last quarter. BlackRock Inc. boosted its holdings in shares of Verifone Systems by 13.5% in the 2nd quarter. BlackRock Inc. now owns 16,668,535 shares of the business services provider’s stock worth $301,702,000 after buying an additional 1,982,859 shares during the last quarter. Finally, Metropolitan Life Insurance Co. NY boosted its holdings in shares of Verifone Systems by 0.3% in the 1st quarter. Metropolitan Life Insurance Co. NY now owns 108,304 shares of the business services provider’s stock worth $2,029,000 after buying an additional 281 shares during the last quarter.

Shares of Verifone Systems, Inc. (NYSE PAY) traded down $0.63 on Friday, reaching $18.11. The company’s stock had a trading volume of 922,387 shares, compared to its average volume of 1,091,834. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.32 and a quick ratio of 1.10. The firm has a market cap of $2.05 billion, a PE ratio of 22.68, a price-to-earnings-growth ratio of 1.35 and a beta of 2.01.

Verifone Systems (NYSE:PAY) last issued its quarterly earnings results on Thursday, September 7th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $466.90 million for the quarter, compared to analysts’ expectations of $464.13 million. Verifone Systems had a positive return on equity of 11.19% and a negative net margin of 9.76%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.42 EPS. sell-side analysts predict that Verifone Systems, Inc. will post 0.99 EPS for the current fiscal year.

A number of equities analysts recently weighed in on the stock. Barclays PLC reissued a “hold” rating and issued a $22.00 price target on shares of Verifone Systems in a report on Friday, September 29th. Zacks Investment Research raised shares of Verifone Systems from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Citigroup Inc assumed coverage on shares of Verifone Systems in a report on Friday, September 15th. They set a “neutral” rating and a $23.00 price objective on the stock. Bank of America Corporation assumed coverage on shares of Verifone Systems in a report on Tuesday, September 12th. They set an “underperform” rating and a $19.00 price objective on the stock. Finally, BTIG Research reaffirmed a “hold” rating on shares of Verifone Systems in a report 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. Verifone Systems presently has an average rating of “Hold” and an average price target of $19.15.

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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.

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

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