New York State Common Retirement Fund cut its stake in Verifone Systems, Inc. (NYSE:PAY) by 23.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 446,735 shares of the business services provider’s stock after selling 139,402 shares during the period. New York State Common Retirement Fund owned about 0.40% of Verifone Systems worth $8,086,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in PAY. Riverhead Capital Management LLC lifted 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 acquiring an additional 2,993 shares during the last quarter. FNY Managed Accounts LLC purchased a new stake in Verifone Systems in the first quarter valued at $131,000. LS Investment Advisors LLC lifted its position in 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 valued at $167,000 after acquiring an additional 1,679 shares during the last quarter. Shelton Capital Management purchased a new stake in Verifone Systems in the first quarter valued at $203,000. Finally, Timber Hill LLC purchased a new stake in Verifone Systems in the second quarter valued at $214,000.
A number of equities research analysts recently weighed in on PAY shares. Imperial Capital reduced their price target on shares of 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. BMO Capital Markets dropped their price objective on shares of Verifone Systems from $21.00 to $20.00 and set a “market perform” rating on the stock in a research note on Friday, June 16th. BidaskClub lowered shares of Verifone Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Zacks Investment Research upgraded shares of Verifone Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Northcoast Research lowered shares of Verifone Systems from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 6th. One equities research analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and three have issued a buy rating to the stock. Verifone Systems currently has an average rating of “Hold” and a consensus price target of $19.20.
Verifone Systems (NYSE:PAY) last posted its quarterly earnings results on Thursday, September 7th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, hitting the Zacks’ consensus estimate of $0.36. Verifone Systems had a negative net margin of 9.76% and a positive return on equity of 11.19%. The company had revenue of $466.90 million for the quarter, compared to the consensus estimate of $464.13 million. During the same period last year, the firm posted $0.42 EPS. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. On average, analysts expect that Verifone Systems, Inc. will post $1.30 earnings per share for the current year.
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Verifone Systems 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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