Eitan Raff Sells 4,125 Shares of VeriFone Systems Inc. (PAY) Stock
VeriFone Systems Inc. (NYSE:PAY) Director Eitan Raff sold 4,125 shares of the business’s stock in a transaction that occurred on Monday, September 26th. The shares were sold at an average price of $16.13, for a total value of $66,536.25. Following the completion of the transaction, the director now directly owns 15,125 shares of the company’s stock, valued at $243,966.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
VeriFone Systems Inc. (NYSE:PAY) opened at 15.77 on Friday. VeriFone Systems Inc. has a 1-year low of $15.46 and a 1-year high of $31.24. The company’s 50-day moving average price is $17.63 and its 200 day moving average price is $22.37. The firm has a market cap of $1.75 billion, a price-to-earnings ratio of 52.57 and a beta of 1.80.
VeriFone Systems (NYSE:PAY) last issued its quarterly earnings data on Thursday, September 1st. The company reported $0.42 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.40 by $0.02. The business earned $493 million during the quarter, compared to the consensus estimate of $515.44 million. VeriFone Systems had a net margin of 1.64% and a return on equity of 19.50%. The firm’s revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.47 EPS. On average, equities analysts expect that VeriFone Systems Inc. will post $1.65 earnings per share for the current fiscal year.
A number of brokerages have issued reports on PAY. Compass Point downgraded VeriFone Systems from a “buy” rating to a “neutral” rating and decreased their price target for the company from $34.00 to $23.00 in a report on Wednesday, June 8th. SunTrust Banks Inc. decreased their price target on VeriFone Systems from $37.00 to $24.00 and set a “buy” rating for the company in a report on Wednesday, June 8th. Wedbush decreased their price target on VeriFone Systems from $36.00 to $30.00 and set an “outperform” rating for the company in a report on Wednesday, June 8th. Jefferies Group reissued a “buy” rating and issued a $40.00 price target on shares of VeriFone Systems in a report on Wednesday, June 8th. Finally, Deutsche Bank AG decreased their price target on VeriFone Systems from $29.00 to $19.00 and set a “hold” rating for the company in a report on Wednesday, June 8th. Two research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company’s stock. VeriFone Systems has an average rating of “Hold” and a consensus price target of $25.27.
Institutional investors have recently modified their holdings of the stock. Cove Street Capital LLC bought a new position in shares of VeriFone Systems during the second quarter valued at approximately $32,142,000. Emerald Acquisition Ltd. bought a new position in shares of VeriFone Systems during the second quarter valued at approximately $24,263,000. Alliancebernstein L.P. increased its position in shares of VeriFone Systems by 57.6% in the second quarter. Alliancebernstein L.P. now owns 3,180,435 shares of the company’s stock valued at $58,965,000 after buying an additional 1,162,250 shares during the last quarter. Jackson Square Partners LLC increased its position in shares of VeriFone Systems by 10.4% in the first quarter. Jackson Square Partners LLC now owns 10,999,485 shares of the company’s stock valued at $403,224,000 after buying an additional 1,037,198 shares during the last quarter. Finally, River Road Asset Management LLC bought a new position in shares of VeriFone Systems during the second quarter valued at approximately $18,280,000. 95.16% of the stock is owned by institutional investors and hedge funds.
About VeriFone Systems
VeriFone Systems, Inc is engaged in providing electronic payment solutions at the point of sale (POS). The Company designs, manufactures, markets and supplies a range of payment solutions and complementary services that enable secure electronic payment transactions and value-added services at the POS.
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