Verifone Systems, Inc. (PAY) Stake Boosted by SFE Investment Counsel

SFE Investment Counsel raised its stake in Verifone Systems, Inc. (NYSE:PAY) by 57.0% during the second quarter, according to its most recent disclosure with the SEC. The firm owned 74,560 shares of the business services provider’s stock after buying an additional 27,080 shares during the period. SFE Investment Counsel owned approximately 0.07% of Verifone Systems worth $1,350,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Oregon Public Employees Retirement Fund boosted its position in Verifone Systems by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 39,085 shares of the business services provider’s stock valued at $732,000 after buying an additional 500 shares during the last quarter. Whittier Trust Co. boosted its position in Verifone Systems by 5.3% in the first quarter. Whittier Trust Co. now owns 101,478 shares of the business services provider’s stock valued at $1,900,000 after buying an additional 5,079 shares during the last quarter. Shell Asset Management Co. boosted its position in Verifone Systems by 2.5% in the first quarter. Shell Asset Management Co. now owns 475,294 shares of the business services provider’s stock valued at $8,902,000 after buying an additional 11,396 shares during the last quarter. Janney Montgomery Scott LLC boosted its position in Verifone Systems by 36.0% in the first quarter. Janney Montgomery Scott LLC now owns 25,180 shares of the business services provider’s stock valued at $472,000 after buying an additional 6,670 shares during the last quarter. Finally, First Mercantile Trust Co. boosted its position in Verifone Systems by 15.6% in the first quarter. First Mercantile Trust Co. now owns 13,560 shares of the business services provider’s stock valued at $254,000 after buying an additional 1,833 shares during the last quarter.

Shares of Verifone Systems, Inc. (NYSE:PAY) opened at 18.63 on Tuesday. Verifone Systems, Inc. has a one year low of $14.94 and a one year high of $20.98. The stock’s 50 day moving average price is $18.97 and its 200 day moving average price is $18.69. The stock’s market capitalization is $2.08 billion.

Verifone Systems (NYSE:PAY) last released its earnings results on Thursday, June 8th. The business services provider reported $0.30 EPS for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.30. The company had revenue of $474 million during the quarter, compared to analysts’ expectations of $472.80 million. Verifone Systems had a positive return on equity of 11.55% and a negative net margin of 7.53%. The business’s revenue for the quarter was down 9.9% on a year-over-year basis. During the same period last year, the firm earned $0.47 EPS. On average, analysts forecast that Verifone Systems, Inc. will post $1.33 EPS for the current year.

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Several research analysts have recently issued reports on the company. BidaskClub cut Verifone Systems from a “buy” rating to a “hold” rating in a research note on Friday, July 28th. Zacks Investment Research raised Verifone Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Royal Bank Of Canada decreased their price target on Verifone Systems from $23.00 to $20.00 and set a “sector perform” rating for the company in a research note on Friday, June 9th. 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. Two investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $18.73.

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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Institutional Ownership by Quarter for Verifone Systems (NYSE:PAY)

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