VeriFone Systems Inc (PAY) Shares Bought by Schafer Cullen Capital Management Inc.
Schafer Cullen Capital Management Inc. boosted its stake in shares of VeriFone Systems Inc (NYSE:PAY) by 14.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 16,950 shares of the business services provider’s stock after buying an additional 2,150 shares during the period. Schafer Cullen Capital Management Inc.’s holdings in VeriFone Systems were worth $317,000 as of its most recent filing with the SEC.
Several other large investors have also recently modified their holdings of PAY. Menora Mivtachim Holdings LTD. purchased a new stake in shares of VeriFone Systems during the fourth quarter valued at approximately $114,000. Lazard Asset Management LLC increased its stake in shares of VeriFone Systems by 2.7% in the third quarter. Lazard Asset Management LLC now owns 7,700 shares of the business services provider’s stock valued at $121,000 after buying an additional 200 shares in the last quarter. 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 in the last quarter. Numeric Investors LLC purchased a new stake in shares of VeriFone Systems during the fourth quarter valued at approximately $229,000. Finally, Private Advisor Group LLC increased its stake in shares of VeriFone Systems by 1.9% in the first quarter. Private Advisor Group LLC now owns 12,960 shares of the business services provider’s stock valued at $233,000 after buying an additional 245 shares in the last quarter. Institutional investors own 91.81% of the company’s stock.
Shares of VeriFone Systems Inc (NYSE:PAY) traded up 0.06% during mid-day trading on Friday, reaching $18.00. The company’s stock had a trading volume of 759,527 shares. VeriFone Systems Inc has a 12 month low of $14.94 and a 12 month high of $28.24. The firm’s market cap is $2.01 billion. The company has a 50-day moving average of $18.05 and a 200-day moving average of $18.30.
VeriFone Systems (NYSE:PAY) last announced its quarterly earnings results on Thursday, March 9th. The business services provider reported $0.21 EPS for the quarter, beating the Zacks’ consensus estimate of $0.20 by $0.01. VeriFone Systems had a positive return on equity of 16.78% and a negative net margin of 0.46%. The firm had revenue of $457 million for the quarter, compared to analyst estimates of $449.37 million. During the same period last year, the firm posted $0.48 earnings per share. The business’s revenue for the quarter was down 11.1% on a year-over-year basis. On average, analysts predict that VeriFone Systems Inc will post $1.37 earnings per share for the current year.
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Several brokerages have recently commented on PAY. Zacks Investment Research upgraded shares of VeriFone Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, March 8th. Royal Bank of Canada boosted their target price on shares of VeriFone Systems from $20.00 to $23.00 and gave the company a “sector perform” rating in a research note on Friday, March 10th. Vetr upgraded shares of VeriFone Systems from a “sell” rating to a “hold” rating and set a $18.22 target price on the stock in a research note on Monday, February 6th. Deutsche Bank AG restated a “hold” rating and issued a $15.00 target price on shares of VeriFone Systems in a research note on Monday, March 13th. Finally, Morgan Stanley restated an “equal weight” rating and issued a $18.00 target price (up previously from $16.00) on shares of VeriFone Systems in a research note on Saturday, March 11th. Two equities research analysts have rated the stock with a sell rating, eighteen have issued a hold rating and five have issued a buy rating to the company. The stock has an average rating of “Hold” and an average price target of $22.25.
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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