Verifone Systems, Inc. (PAY) Position Increased by Texas Permanent School Fund
Texas Permanent School Fund raised its stake in shares of Verifone Systems, Inc. (NYSE:PAY) by 0.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 81,491 shares of the business services provider’s stock after buying an additional 707 shares during the period. Texas Permanent School Fund’s holdings in Verifone Systems were worth $1,475,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. FNY Managed Accounts LLC acquired a new stake in shares of Verifone Systems during the first quarter valued at $131,000. Bank of Montreal Can increased 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 valued at $138,000 after buying an additional 1,281 shares during the last quarter. LS Investment Advisors LLC increased 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 valued at $167,000 after buying an additional 1,679 shares during the last quarter. Shelton Capital Management acquired a new stake in shares of Verifone Systems during the first quarter valued at $203,000. Finally, NGAM Advisors L.P. increased 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 valued at $229,000 after buying an additional 622 shares during the last quarter.
Verifone Systems, Inc. (PAY) opened at 18.42 on Wednesday. The firm’s market capitalization is $2.06 billion. Verifone Systems, Inc. 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 $18.99 and a 200-day moving average price of $18.69.
Verifone Systems (NYSE:PAY) last posted its quarterly earnings results on Thursday, June 8th. The business services provider reported $0.30 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.30. The company had revenue of $474 million for the quarter, compared to the consensus estimate of $472.80 million. Verifone Systems had a positive return on equity of 11.55% and a negative net margin of 7.53%. The firm’s quarterly revenue was down 9.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.47 EPS. On average, equities analysts predict that Verifone Systems, Inc. will post $1.33 EPS for the current year.
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Several analysts have weighed in on PAY shares. BidaskClub raised Verifone Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Barclays PLC reaffirmed an “equal weight” rating and set a $20.00 target price (down previously from $22.00) on shares of Verifone Systems in a research note on Sunday, June 11th. Zacks Investment Research raised Verifone Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Imperial Capital cut their target price on Verifone Systems from $20.00 to $19.00 and set an “in-line” rating on the stock in a research note on Tuesday, June 13th. Finally, BMO Capital Markets cut their target price on Verifone Systems from $21.00 to $20.00 and set a “market perform” rating on the stock in a research note on Friday, June 16th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $18.73.
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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