VeriFone Systems Inc (PAY) Receives Consensus Recommendation of “Hold” from Brokerages
Shares of VeriFone Systems Inc (NYSE:PAY) have earned an average recommendation of “Hold” from the twenty analysts that are currently covering the company, Marketbeat Ratings reports. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and four have given a buy rating to the company. The average twelve-month price objective among analysts that have updated their coverage on the stock in the last year is $19.77.
A number of brokerages recently commented on PAY. Barclays reaffirmed a “hold” rating and issued a $22.00 price target on shares of VeriFone Systems in a research note on Friday, September 29th. Argus reaffirmed a “hold” rating on shares of VeriFone Systems in a research note on Tuesday, December 26th. Zacks Investment Research upgraded VeriFone Systems from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. UBS Group downgraded VeriFone Systems from a “strong-buy” rating to an “outperform” rating in a report on Thursday, November 16th. Finally, Raymond James Financial downgraded VeriFone Systems from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $25.00 to $22.00 in a report on Thursday, November 16th.
Several large investors have recently modified their holdings of the company. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of VeriFone Systems by 27,645.1% during the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 241,105 shares of the business services provider’s stock valued at $4,890,000 after acquiring an additional 240,236 shares in the last quarter. GSA Capital Partners LLP bought a new position in shares of VeriFone Systems during the third quarter valued at $531,000. Neuberger Berman Group LLC increased its holdings in shares of VeriFone Systems by 22.0% during the third quarter. Neuberger Berman Group LLC now owns 1,646,427 shares of the business services provider’s stock valued at $33,390,000 after acquiring an additional 297,362 shares in the last quarter. California Public Employees Retirement System increased its holdings in VeriFone Systems by 1.6% in the 3rd quarter. California Public Employees Retirement System now owns 1,147,906 shares of the business services provider’s stock worth $23,280,000 after buying an additional 18,306 shares in the last quarter. Finally, Cubist Systematic Strategies LLC bought a new stake in VeriFone Systems in the 3rd quarter worth about $591,000.
VeriFone Systems (NYSE:PAY) last released its quarterly earnings data on Tuesday, December 12th. The business services provider reported $0.44 earnings per share for the quarter, beating analysts’ consensus estimates of $0.43 by $0.01. The firm had revenue of $477.00 million during the quarter, compared to analyst estimates of $472.33 million. VeriFone Systems had a positive return on equity of 13.52% and a negative net margin of 9.29%. The business’s quarterly revenue was up 2.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.30 earnings per share. sell-side analysts forecast that VeriFone Systems will post 1.2 EPS for the current year.
VeriFone Systems declared that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.
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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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