Verifone Systems (PAY) PT Raised to $21.00
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.
COPYRIGHT VIOLATION WARNING: “Verifone Systems (PAY) PT Raised to $21.00” was posted by Watch List News and is owned by of Watch List News. If you are accessing this piece of content on another publication, it was copied illegally and republished in violation of US and international trademark and copyright laws. The legal version of this piece of content can be viewed at https://www.watchlistnews.com/verifone-systems-pay-pt-raised-to-21-00/1765114.html.
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.
Receive News & Ratings for Verifone Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verifone Systems and related companies with MarketBeat.com's FREE daily email newsletter.