Robert W. Alspaugh Sells 8,250 Shares of VeriFone Systems Inc. (PAY) Stock
VeriFone Systems Inc. (NYSE:PAY) Director Robert W. Alspaugh sold 8,250 shares of the business’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $15.81, for a total transaction of $130,432.50. Following the sale, the director now directly owns 17,250 shares in the company, valued at approximately $272,722.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.
Shares of VeriFone Systems Inc. (NYSE:PAY) opened at 15.74 on Friday. VeriFone Systems Inc. has a 1-year low of $15.46 and a 1-year high of $31.24. The stock has a market capitalization of $1.75 billion, a P/E ratio of 52.47 and a beta of 1.80. The firm’s 50-day moving average is $17.55 and its 200 day moving average is $22.28.
VeriFone Systems (NYSE:PAY) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.42 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.40 by $0.02. VeriFone Systems had a return on equity of 19.50% and a net margin of 1.64%. The business earned $493 million during the quarter, compared to analysts’ expectations of $515.44 million. During the same period in the previous year, the business posted $0.47 earnings per share. The firm’s revenue for the quarter was down 3.3% compared to the same quarter last year. On average, analysts expect that VeriFone Systems Inc. will post $1.65 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAY. State Treasurer State of Michigan boosted its position in VeriFone Systems by 0.5% in the second quarter. State Treasurer State of Michigan now owns 44,200 shares of the company’s stock worth $819,000 after buying an additional 200 shares in the last quarter. Leisure Capital Management boosted its position in VeriFone Systems by 1.9% in the second quarter. Leisure Capital Management now owns 13,120 shares of the company’s stock worth $243,000 after buying an additional 248 shares in the last quarter. Globeflex Capital L P boosted its position in VeriFone Systems by 0.9% in the second quarter. Globeflex Capital L P now owns 32,942 shares of the company’s stock worth $611,000 after buying an additional 293 shares in the last quarter. US Bancorp DE boosted its position in VeriFone Systems by 2.6% in the second quarter. US Bancorp DE now owns 11,832 shares of the company’s stock worth $220,000 after buying an additional 297 shares in the last quarter. Finally, Prudential Financial Inc. boosted its position in VeriFone Systems by 0.7% in the second quarter. Prudential Financial Inc. now owns 67,324 shares of the company’s stock worth $1,248,000 after buying an additional 500 shares in the last quarter. 95.16% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently commented on PAY. Morgan Stanley decreased their price objective on shares of VeriFone Systems from $23.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, September 20th. Stifel Nicolaus reissued a “buy” rating and set a $18.00 price objective on shares of VeriFone Systems in a report on Friday, September 16th. Imperial Capital downgraded shares of VeriFone Systems from an “outperform” rating to an “in-line” rating and decreased their price objective for the stock from $24.00 to $18.00 in a report on Monday, September 12th. BTIG Research began coverage on shares of VeriFone Systems in a report on Friday, September 9th. They set a “buy” rating and a $21.00 price objective on the stock. Finally, Zacks Investment Research downgraded shares of VeriFone Systems from a “buy” rating to a “strong sell” rating in a report on Thursday, September 8th. Two analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $24.85.
VeriFone Systems Company Profile
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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