Verifone Systems (NYSE:PAY) had its target price increased by investment analysts at Credit Suisse Group from $20.00 to $21.00 in a research report issued to clients and investors on Wednesday. The brokerage presently has a “neutral” rating on the business services provider’s stock. Credit Suisse Group’s price target would suggest a potential upside of 16.54% from the stock’s previous close.

A number of other brokerages also recently commented on PAY. Raymond James Financial downgraded Verifone Systems from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $25.00 to $22.00 in a research note on Thursday, November 16th. Citigroup started coverage on Verifone Systems in a research note on Friday, September 15th. They issued a “neutral” rating and a $23.00 target price on the stock. Northcoast Research downgraded Verifone Systems from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 6th. UBS downgraded Verifone Systems from a “strong-buy” rating to an “outperform” rating in a research note on Thursday, November 16th. Finally, BTIG Research restated a “hold” rating on shares of Verifone Systems in a research note on Monday, September 11th. Two research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $19.95.

Shares of Verifone Systems (NYSE PAY) opened at $18.02 on Wednesday. Verifone Systems has a one year low of $16.80 and a one year high of $21.48. The company has a quick ratio of 1.10, a current ratio of 1.33 and a debt-to-equity ratio of 0.97. The company has a market capitalization of $1,986.21, a PE ratio of 18.69, a PEG ratio of 1.32 and a beta of 1.96.

Verifone Systems (NYSE:PAY) last issued its earnings results on Tuesday, December 12th. The business services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. Verifone Systems had a positive return on equity of 13.52% and a negative net margin of 9.29%. The firm had revenue of $477.00 million for the quarter, compared to the consensus estimate of $472.33 million. During the same quarter in the prior year, the business earned $0.30 earnings per share. The company’s revenue was up 2.8% compared to the same quarter last year. research analysts expect that Verifone Systems will post 1.28 EPS for the current fiscal year.

Verifone Systems declared that its board has authorized a share repurchase program on Tuesday, December 12th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase programs are often a sign that the company’s management believes its stock is undervalued.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Barrow Hanley Mewhinney & Strauss LLC raised its holdings in shares of Verifone Systems by 27,645.1% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 241,105 shares of the business services provider’s stock valued at $4,890,000 after acquiring an additional 240,236 shares during the last quarter. GSA Capital Partners LLP acquired a new position in shares of Verifone Systems during the third quarter valued at approximately $531,000. Neuberger Berman Group LLC raised its holdings in shares of Verifone Systems by 22.0% during the third quarter. Neuberger Berman Group LLC now owns 1,646,427 shares of the business services provider’s stock valued at $33,390,000 after acquiring an additional 297,362 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Verifone Systems by 1.6% during the third quarter. California Public Employees Retirement System now owns 1,147,906 shares of the business services provider’s stock valued at $23,280,000 after acquiring an additional 18,306 shares during the last quarter. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Verifone Systems during the third quarter valued at approximately $591,000.

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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.

Analyst Recommendations for Verifone Systems (NYSE:PAY)

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