Verifone Systems, Inc. (PAY) Stake Lifted by Rhumbline Advisers
Rhumbline Advisers lifted its holdings in Verifone Systems, Inc. (NYSE:PAY) by 5.0% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 228,791 shares of the business services provider’s stock after purchasing an additional 10,875 shares during the quarter. Rhumbline Advisers owned 0.20% of Verifone Systems worth $4,141,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. FNY Managed Accounts LLC bought a new position in shares of Verifone Systems in the first quarter worth $131,000. Bank of Montreal Can grew its stake in shares of Verifone Systems by 21.0% in the first quarter. Bank of Montreal Can now owns 7,379 shares of the business services provider’s stock worth $138,000 after purchasing an additional 1,281 shares in the last quarter. LS Investment Advisors LLC grew its stake in shares of Verifone Systems by 22.3% in the second quarter. LS Investment Advisors LLC now owns 9,213 shares of the business services provider’s stock worth $167,000 after purchasing an additional 1,679 shares in the last quarter. Shelton Capital Management bought a new position in shares of Verifone Systems in the first quarter worth $203,000. Finally, NGAM Advisors L.P. grew its stake in shares of Verifone Systems by 5.2% in the second quarter. NGAM Advisors L.P. now owns 12,628 shares of the business services provider’s stock worth $229,000 after purchasing an additional 622 shares in the last quarter.
Several research firms have recently issued reports on PAY. BidaskClub raised Verifone Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 23rd. Zacks Investment Research cut Verifone Systems from a “hold” rating to a “sell” rating in a research note on Monday, August 14th. BMO Capital Markets decreased their price target on Verifone Systems from $21.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, June 16th. Imperial Capital decreased their price target on Verifone Systems from $20.00 to $19.00 and set an “in-line” rating for the company in a research note on Tuesday, June 13th. Finally, BTIG Research reissued a “neutral” rating on shares of Verifone Systems in a research note on Monday, June 12th. One equities research analyst has rated the stock with a sell rating, fourteen have assigned a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $18.35.
Shares of Verifone Systems, Inc. (PAY) opened at 19.58 on Monday. The stock’s market capitalization is $2.19 billion. The stock’s 50 day moving average price is $19.33 and its 200 day moving average price is $18.74. Verifone Systems, Inc. has a one year low of $14.94 and a one year high of $20.98.
Verifone Systems (NYSE:PAY) last announced its quarterly earnings data on Thursday, June 8th. The business services provider reported $0.30 EPS for the quarter, hitting analysts’ consensus estimates of $0.30. Verifone Systems had a positive return on equity of 11.55% and a negative net margin of 7.53%. The business had revenue of $474 million during the quarter, compared to analysts’ expectations of $472.80 million. During the same period in the previous year, the firm earned $0.47 earnings per share. The firm’s quarterly revenue was down 9.9% compared to the same quarter last year. On average, analysts forecast that Verifone Systems, Inc. will post $1.33 EPS for the current year.
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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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