Verifone Systems, Inc. (NYSE:PAY) Rating Lowered to Hold at BidaskClub
BidaskClub cut shares of Verifone Systems, Inc. (NYSE:PAY) from a buy rating to a hold rating in a report published on Friday morning.
A number of other research analysts have also recently issued reports on the company. Zacks Investment Research cut Verifone Systems from a hold rating to a sell rating in a report on Tuesday, May 23rd. BMO Capital Markets cut their price objective on Verifone Systems from $21.00 to $20.00 and set a market perform rating for the company in a report on Friday, June 16th. Barclays PLC reissued an equal weight rating and set a $20.00 price objective (down from $22.00) on shares of Verifone Systems in a report on Sunday, June 11th. Royal Bank Of Canada cut their price objective on Verifone Systems from $23.00 to $20.00 and set a sector perform rating for the company in a report on Friday, June 9th. Finally, BTIG Research reissued a neutral rating on shares of Verifone Systems in a report on Monday, June 12th. Two analysts have rated the stock with a sell rating, fifteen have issued a hold rating and two have assigned a buy rating to the company. The company has an average rating of Hold and an average target price of $18.73.
Verifone Systems (NYSE PAY) traded up 0.62% during trading on Friday, hitting $19.63. 230,463 shares of the stock traded hands. Verifone Systems has a one year low of $14.94 and a one year high of $20.98. The company has a 50-day moving average price of $18.56 and a 200 day moving average price of $18.64. The stock’s market cap is $2.20 billion.
Verifone Systems (NYSE:PAY) last issued its quarterly earnings data on Thursday, June 8th. The business services provider reported $0.30 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.30. The company had revenue of $474 million during the quarter, compared to analysts’ expectations of $472.80 million. Verifone Systems had a positive return on equity of 11.55% and a negative net margin of 7.53%. The business’s revenue was down 9.9% on a year-over-year basis. During the same period last year, the business earned $0.47 earnings per share. Analysts expect that Verifone Systems will post $1.33 earnings per share for the current year.
A number of hedge funds have recently made changes to their positions in the company. FNY Managed Accounts LLC purchased a new stake in shares of Verifone Systems during the first quarter worth approximately $131,000. Bank of Montreal Can raised its stake in shares of Verifone Systems by 21.0% in the first quarter. Bank of Montreal Can now owns 7,379 shares of the business services provider’s stock worth $138,000 after buying an additional 1,281 shares during the last quarter. LS Investment Advisors LLC raised its stake in shares of Verifone Systems by 22.3% in the second quarter. LS Investment Advisors LLC now owns 9,213 shares of the business services provider’s stock worth $167,000 after buying an additional 1,679 shares during the last quarter. Shelton Capital Management purchased a new stake in shares of Verifone Systems during the first quarter worth approximately $203,000. Finally, NGAM Advisors L.P. raised its stake in shares of Verifone Systems by 5.2% in the second quarter. NGAM Advisors L.P. now owns 12,628 shares of the business services provider’s stock worth $229,000 after buying an additional 622 shares during the last quarter.
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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