Barclays PLC Reaffirms Hold Rating for Verifone Systems, Inc. (PAY)
Verifone Systems, Inc. (NYSE:PAY)‘s stock had its “hold” rating reaffirmed by equities research analysts at Barclays PLC in a note issued to investors on Friday. They presently have a $22.00 target price on the business services provider’s stock. Barclays PLC’s price objective indicates a potential upside of 8.48% from the company’s previous close.
Other equities analysts have also issued reports about the company. BidaskClub raised Verifone Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reissued a “buy” rating and issued a $23.00 price target (up from $20.00) on shares of Verifone Systems in a research note on Monday, September 11th. Zacks Investment Research raised Verifone Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Piper Jaffray Companies reissued a “hold” rating and issued a $20.00 price target on shares of Verifone Systems in a research note on Friday, September 8th. Finally, BTIG Research reissued a “hold” rating on shares of Verifone Systems in a research note on Monday, September 11th. One research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have given a buy rating to the stock. Verifone Systems has an average rating of “Hold” and an average target price of $19.20.
Shares of Verifone Systems (NYSE PAY) traded up 0.75% during midday trading on Friday, reaching $20.28. 1,208,820 shares of the company’s stock were exchanged. Verifone Systems has a 12 month low of $14.94 and a 12 month high of $21.48. The company’s 50 day moving average is $19.52 and its 200-day moving average is $18.74. The stock’s market cap is $2.28 billion.
Verifone Systems (NYSE:PAY) last issued its quarterly earnings results on Thursday, September 7th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.36. Verifone Systems had a positive return on equity of 11.19% and a negative net margin of 9.76%. The firm had revenue of $466.90 million for the quarter, compared to analyst estimates of $464.13 million. During the same period in the previous year, the firm earned $0.42 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year. Equities analysts forecast that Verifone Systems will post $1.30 EPS for the current fiscal year.
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A number of institutional investors have recently made changes to their positions in the stock. Phocas Financial Corp. bought a new stake in Verifone Systems during the second quarter worth $587,000. Ameritas Investment Partners Inc. grew its holdings in Verifone Systems by 29.1% during the second quarter. Ameritas Investment Partners Inc. now owns 43,404 shares of the business services provider’s stock worth $786,000 after buying an additional 9,780 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Verifone Systems by 52.7% during the second quarter. The Manufacturers Life Insurance Company now owns 245,936 shares of the business services provider’s stock worth $4,452,000 after buying an additional 84,929 shares in the last quarter. Carret Asset Management LLC grew its holdings in Verifone Systems by 22.1% during the second quarter. Carret Asset Management LLC now owns 14,100 shares of the business services provider’s stock worth $255,000 after buying an additional 2,550 shares in the last quarter. Finally, State Street Corp grew its holdings in Verifone Systems by 27.8% during the second quarter. State Street Corp now owns 3,612,321 shares of the business services provider’s stock worth $65,386,000 after buying an additional 786,774 shares in the last quarter.
Verifone Systems Company Profile
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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