VeriFone Systems Inc. (NYSE:PAY) – Analysts at SunTrust Banks decreased their FY2017 earnings per share (EPS) estimates for VeriFone Systems in a report issued on Wednesday. SunTrust Banks analyst A. Jeffrey now expects that the firm will post earnings of $1.17 per share for the year, down from their previous estimate of $1.27.

VeriFone Systems (NYSE:PAY) last released its quarterly earnings results on Thursday, September 1st. The company reported $0.42 earnings per share for the quarter, beating analysts’ consensus estimates of $0.40 by $0.02. VeriFone Systems had a net margin of 1.64% and a return on equity of 19.50%. The business had revenue of $493 million for the quarter, compared to analysts’ expectations of $515.44 million. During the same period last year, the business earned $0.47 EPS. The company’s revenue was down 3.3% compared to the same quarter last year.

Earnings History and Estimates for VeriFone Systems (NYSE:PAY)

Several other equities analysts have also weighed in on PAY. Stifel Nicolaus cut their target price on shares of VeriFone Systems from $26.00 to $18.00 and set a “neutral” rating for the company in a report on Friday, September 2nd. Pacific Crest reaffirmed a “hold” rating on shares of VeriFone Systems in a report on Sunday, September 4th. Deutsche Bank AG reaffirmed a “hold” rating and set a $15.00 target price (down from $19.00) on shares of VeriFone Systems in a report on Friday, September 2nd. TheStreet lowered shares of VeriFone Systems from a “hold” rating to a “sell” rating in a report on Thursday, September 1st. Finally, Zacks Investment Research raised shares of VeriFone Systems from a “hold” rating to a “buy” rating and set a $23.00 target price for the company in a report on Friday, September 2nd. Two equities 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 assigned a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $24.85.

VeriFone Systems (NYSE:PAY) traded down 0.26% during mid-day trading on Thursday, hitting $15.08. 2,212,610 shares of the stock were exchanged. The company has a 50 day moving average of $16.60 and a 200 day moving average of $21.45. The firm has a market cap of $1.67 billion, a P/E ratio of 50.27 and a beta of 2.04. VeriFone Systems has a 12-month low of $14.94 and a 12-month high of $31.24.

A number of hedge funds and other institutional investors have recently bought and sold shares of PAY. Wellington Management Group LLP boosted its position in VeriFone Systems by 34.8% in the first quarter. Wellington Management Group LLP now owns 3,151,833 shares of the company’s stock worth $89,008,000 after buying an additional 812,811 shares during the last quarter. Shell Asset Management Co. boosted its position in VeriFone Systems by 31.2% in the second quarter. Shell Asset Management Co. now owns 547,976 shares of the company’s stock worth $10,159,000 after buying an additional 130,396 shares during the last quarter. Cambiar Investors LLC boosted its position in VeriFone Systems by 13.1% in the second quarter. Cambiar Investors LLC now owns 1,827,284 shares of the company’s stock worth $33,878,000 after buying an additional 210,982 shares during the last quarter. BlackRock Inc. boosted its position in VeriFone Systems by 19.5% in the first quarter. BlackRock Inc. now owns 48,822 shares of the company’s stock worth $1,379,000 after buying an additional 7,951 shares during the last quarter. Finally, Capital Fund Management S.A. boosted its position in VeriFone Systems by 353.6% in the second quarter. Capital Fund Management S.A. now owns 190,110 shares of the company’s stock worth $3,525,000 after buying an additional 148,201 shares during the last quarter. 95.16% of the stock is currently owned by institutional investors.

In other VeriFone Systems news, Director Eitan Raff sold 4,125 shares of the company’s stock in a transaction dated Monday, September 26th. The shares were sold at an average price of $16.13, for a total value of $66,536.25. Following the transaction, the director now owns 15,125 shares of the company’s stock, valued at $243,966.25. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert W. Alspaugh sold 8,250 shares of the company’s stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $15.81, for a total transaction of $130,432.50. Following the completion of the transaction, the director now directly owns 17,250 shares in the company, valued at approximately $272,722.50. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

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.

5 Day Chart for NYSE:PAY

Receive News & Stock 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 stocks with our FREE daily email newsletter.