Verifone Systems, Inc. (NYSE:PAY) has been given an average rating of “Hold” by the nineteen research firms that are currently covering the firm, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, sixteen have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price objective among brokerages that have issued ratings on the stock in the last year is $18.19.
PAY has been the topic of a number of recent research reports. BMO Capital Markets dropped their target price on Verifone Systems from $21.00 to $20.00 and set a “market perform” rating on the stock in a report on Friday, June 16th. Zacks Investment Research upgraded Verifone Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 2nd. BidaskClub downgraded Verifone Systems from a “hold” rating to a “sell” rating in a research report on Tuesday, June 20th. 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 report on Tuesday, June 13th. Finally, 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 report on Friday, June 9th.
Verifone Systems (NYSE:PAY) traded down 0.75% during trading on Friday, reaching $18.52. The company had a trading volume of 839,170 shares. The firm’s 50 day moving average price is $18.90 and its 200 day moving average price is $18.68. Verifone Systems has a 12-month low of $14.94 and a 12-month high of $20.98. The firm’s market capitalization is $2.07 billion.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in PAY. Riverhead Capital Management LLC increased its position in Verifone Systems by 80.9% in the second quarter. Riverhead Capital Management LLC now owns 6,693 shares of the business services provider’s stock valued at $121,000 after buying an additional 2,993 shares in the last quarter. FNY Managed Accounts LLC acquired a new position in shares of Verifone Systems during the first quarter worth about $131,000. Bank of Montreal Can increased its position 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 buying an additional 1,281 shares in the last quarter. LS Investment Advisors LLC increased its position 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 buying an additional 1,679 shares in the last quarter. Finally, Shelton Capital Management acquired a new position in shares of Verifone Systems during the first quarter worth about $203,000.
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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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