Analysts at Craig Hallum assumed coverage on shares of VeriFone Systems Inc. (NYSE:PAY) in a research report issued on Monday. The firm set a “buy” rating and a $20.00 price target on the stock. Craig Hallum’s target price would suggest a potential upside of 32.10% from the stock’s current price.

PAY has been the subject of a number of other research reports. Piper Jaffray Cos. upgraded shares of VeriFone Systems from a “neutral” rating to an “outperform” rating and set a $38.50 price target for the company in a research note on Thursday, August 25th. Stifel Nicolaus reiterated a “buy” rating and set a $18.00 price target on shares of VeriFone Systems in a research note on Friday, September 16th. Imperial Capital cut shares of VeriFone Systems from an “outperform” rating to an “in-line” rating and decreased their price target for the stock from $24.00 to $18.00 in a research note on Monday, September 12th. RBC Capital Markets reiterated a “sector perform” rating and set a $23.00 price target (down previously from $28.00) on shares of VeriFone Systems in a research note on Sunday, September 4th. Finally, Wedbush cut shares of VeriFone Systems from an “outperform” rating to a “neutral” rating and decreased their price target for the stock from $30.00 to $20.00 in a research note on Friday, September 2nd. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the stock. VeriFone Systems currently has an average rating of “Hold” and a consensus price target of $24.65.

Analyst Recommendations for VeriFone Systems (NYSE:PAY)

VeriFone Systems (NYSE:PAY) opened at 15.14 on Monday. The stock has a market cap of $1.68 billion, a PE ratio of 50.47 and a beta of 2.04. VeriFone Systems has a 12-month low of $14.94 and a 12-month high of $31.24. The firm has a 50 day moving average of $16.35 and a 200-day moving average of $21.16.

VeriFone Systems (NYSE:PAY) last issued its quarterly earnings results on Thursday, September 1st. The company reported $0.42 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.40 by $0.02. The firm earned $493 million during the quarter, compared to analysts’ expectations of $515.44 million. VeriFone Systems had a net margin of 1.64% and a return on equity of 19.50%. VeriFone Systems’s quarterly revenue was down 3.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 EPS. On average, analysts expect that VeriFone Systems will post $1.65 earnings per share for the current year.

In other VeriFone Systems news, Director Eitan Raff sold 4,125 shares of the firm’s stock in a transaction that occurred on Monday, September 26th. The stock was 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 in the company, valued at $243,966.25. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert W. Alspaugh sold 8,250 shares of the firm’s stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $15.81, for a total value of $130,432.50. Following the completion of the transaction, the director now owns 17,250 shares of the company’s stock, valued at $272,722.50. The disclosure for this sale can be found here. 1.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. 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 in the last quarter. Wellington Management Group LLP increased its position in shares of VeriFone Systems by 34.8% in the first quarter. Wellington Management Group LLP now owns 3,151,833 shares of the company’s stock valued at $89,008,000 after buying an additional 812,811 shares in the last quarter. Geode Capital Management LLC increased its position in shares of VeriFone Systems by 3.1% in the first quarter. Geode Capital Management LLC now owns 684,534 shares of the company’s stock valued at $19,331,000 after buying an additional 20,786 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of VeriFone Systems by 1.0% in the first quarter. Loomis Sayles & Co. L P now owns 1,221,163 shares of the company’s stock valued at $34,486,000 after buying an additional 11,649 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its position in shares of VeriFone Systems by 209.7% in the first quarter. Pictet Asset Management Ltd. now owns 371,650 shares of the company’s stock valued at $8,879,000 after buying an additional 251,650 shares in the last quarter. Hedge funds and other institutional investors own 95.11% 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

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