Imperial Capital Increases VeriFone Systems Inc (PAY) Price Target to $20.00

VeriFone Systems Inc (NYSE:PAY) had its target price upped by Imperial Capital from $18.00 to $20.00 in a research note published on Thursday morning. The brokerage currently has an in-line rating on the business services provider’s stock.

A number of other brokerages have also recently issued reports on PAY. Zacks Investment Research upgraded shares of VeriFone Systems from a strong sell rating to a hold rating in a research note on Tuesday, February 14th. BMO Capital Markets began coverage on shares of VeriFone Systems in a report on Thursday, January 5th. They issued a market perform rating and a $19.00 target price on the stock. Wedbush reaffirmed a neutral rating and issued a $18.00 target price (down previously from $20.00) on shares of VeriFone Systems in a report on Thursday, December 15th. Vetr lowered shares of VeriFone Systems from a buy rating to a hold rating and set a $17.86 target price on the stock. in a report on Tuesday, December 13th. Finally, BTIG Research lowered shares of VeriFone Systems from a buy rating to a neutral rating and set a $21.00 target price on the stock. in a report on Friday, March 10th. Two research analysts have rated the stock with a sell rating, eighteen have assigned a hold rating and five have given a buy rating to the stock. The stock has an average rating of Hold and an average target price of $22.25.

Shares of VeriFone Systems (NYSE:PAY) traded up 3.05% during trading on Thursday, reaching $17.93. The company had a trading volume of 1,755,071 shares. The company’s market capitalization is $2.00 billion. VeriFone Systems has a 52 week low of $14.94 and a 52 week high of $29.73. The stock’s 50-day moving average price is $18.79 and its 200-day moving average price is $17.83.

VeriFone Systems (NYSE:PAY) last announced its quarterly earnings data on Thursday, March 9th. The business services provider reported $0.21 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.20 by $0.01. VeriFone Systems had a negative net margin of 0.46% and a positive return on equity of 16.78%. The company earned $457 million during the quarter, compared to analysts’ expectations of $449.37 million. During the same quarter in the prior year, the company posted $0.48 EPS. The business’s revenue was down 11.1% on a year-over-year basis. On average, equities analysts expect that VeriFone Systems will post $1.37 EPS for the current fiscal year.

COPYRIGHT VIOLATION NOTICE: This piece of content was originally reported by Chaffey Breeze and is the sole property of of Chaffey Breeze. If you are accessing this piece of content on another website, it was copied illegally and reposted in violation of United States & international copyright legislation. The legal version of this piece of content can be read at https://www.chaffeybreeze.com/2017/04/20/verifone-systems-inc-pay-given-new-20-00-price-target-at-imperial-capital-updated-updated.html.

A number of hedge funds have recently made changes to their positions in the company. New Jersey Better Educational Savings Trust bought a new stake in shares of VeriFone Systems during the third quarter valued at approximately $472,000. State of New Jersey Common Pension Fund D increased its stake in shares of VeriFone Systems by 622.2% in the third quarter. State of New Jersey Common Pension Fund D now owns 812,500 shares of the business services provider’s stock valued at $12,789,000 after buying an additional 700,000 shares during the period. Oakbrook Investments LLC increased its stake in shares of VeriFone Systems by 1.8% in the third quarter. Oakbrook Investments LLC now owns 11,500 shares of the business services provider’s stock valued at $181,000 after buying an additional 200 shares during the period. Horrell Capital Management Inc. bought a new stake in shares of VeriFone Systems during the third quarter valued at approximately $1,574,000. Finally, First Quadrant L P CA increased its stake in VeriFone Systems by 3,599.9% in the third quarter. First Quadrant L P CA now owns 133,197 shares of the business services provider’s stock worth $2,097,000 after buying an additional 129,597 shares during the period. Hedge funds and other institutional investors own 91.81% of the company’s stock.

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.

5 Day Chart for NYSE:PAY

Receive News & Ratings for VeriFone Systems Inc Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VeriFone Systems Inc and related companies with MarketBeat.com's FREE daily email newsletter.

Latest News

Leave a Reply