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.
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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.
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