Texas Permanent School Fund decreased its position in VeriFone Systems Inc (NYSE:PAY) by 7.1% during the 4th quarter, Holdings Channel reports. The firm owned 75,844 shares of the business services provider’s stock after selling 5,801 shares during the period. Texas Permanent School Fund’s holdings in VeriFone Systems were worth $1,343,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of PAY. Teachers Advisors LLC lifted its stake in VeriFone Systems by 95.7% in the second quarter. Teachers Advisors LLC now owns 201,005 shares of the business services provider’s stock valued at $3,638,000 after purchasing an additional 98,311 shares during the last quarter. Thrivent Financial For Lutherans lifted its stake in VeriFone Systems by 8.4% in the second quarter. Thrivent Financial For Lutherans now owns 22,700 shares of the business services provider’s stock valued at $411,000 after purchasing an additional 1,750 shares during the last quarter. Northern Trust Corp lifted its stake in VeriFone Systems by 81.9% in the second quarter. Northern Trust Corp now owns 1,710,176 shares of the business services provider’s stock valued at $30,954,000 after purchasing an additional 769,788 shares during the last quarter. Vanguard Group Inc. lifted its stake in VeriFone Systems by 4.2% in the second quarter. Vanguard Group Inc. now owns 9,365,370 shares of the business services provider’s stock valued at $169,513,000 after purchasing an additional 376,008 shares during the last quarter. Finally, Dimensional Fund Advisors LP lifted its stake in VeriFone Systems by 2.9% in the second quarter. Dimensional Fund Advisors LP now owns 3,136,368 shares of the business services provider’s stock valued at $56,768,000 after purchasing an additional 87,063 shares during the last quarter.

PAY has been the topic of several research analyst reports. Tigress Financial reiterated a “buy” rating on shares of VeriFone Systems in a research note on Tuesday, December 19th. Argus reiterated a “hold” rating on shares of VeriFone Systems in a research note on Tuesday, December 26th. Barclays reiterated a “hold” rating and issued a $21.00 price objective on shares of VeriFone Systems in a research note on Friday, December 15th. Credit Suisse Group upped their price objective on VeriFone Systems from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, December 13th. Finally, Raymond James Financial downgraded VeriFone Systems from a “strong-buy” rating to an “outperform” rating in a research note on Sunday, November 26th. Two equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $20.15.

Shares of VeriFone Systems Inc (NYSE:PAY) opened at $17.08 on Monday. The stock has a market capitalization of $1,884.80, a price-to-earnings ratio of -11.02, a price-to-earnings-growth ratio of 1.74 and a beta of 1.79. VeriFone Systems Inc has a 12-month low of $16.00 and a 12-month high of $21.48. The company has a current ratio of 1.33, a quick ratio of 1.09 and a debt-to-equity ratio of 0.97.

VeriFone Systems (NYSE:PAY) last posted its earnings results on Tuesday, December 12th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.43 by $0.01. The firm had revenue of $477.00 million for the quarter, compared to the consensus estimate of $472.33 million. VeriFone Systems had a positive return on equity of 13.52% and a negative net margin of 9.29%. The business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.30 earnings per share. sell-side analysts forecast that VeriFone Systems Inc will post 1.2 EPS for the current year.

VeriFone Systems announced that its board has initiated a stock repurchase program on Tuesday, December 12th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s board of directors believes its stock is undervalued.

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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.

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

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