Verifone Systems, Inc. (NYSE:PAY) Receives $18.19 Consensus Price Target from Brokerages

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.

Verifone Systems (NYSE:PAY) last announced its earnings results on Thursday, June 8th. The business services provider reported $0.30 EPS for the quarter, meeting the consensus estimate of $0.30. The company had revenue of $474 million for the quarter, compared to analyst estimates of $472.80 million. Verifone Systems had a positive return on equity of 11.55% and a negative net margin of 7.53%. The firm’s revenue for the quarter was down 9.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.47 EPS. Analysts anticipate that Verifone Systems will post $1.33 earnings per share for the current year.

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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