Point72 Asset Management L.P. bought a new position in shares of VeriFone Systems Inc (NYSE:PAY) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 25,539 shares of the business services provider’s stock, valued at approximately $518,000.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Zions Bancorporation acquired a new stake in VeriFone Systems during the third quarter worth approximately $108,000. Riverhead Capital Management LLC grew its position in VeriFone Systems by 80.9% during the second quarter. Riverhead Capital Management LLC now owns 6,693 shares of the business services provider’s stock worth $121,000 after buying an additional 2,993 shares in the last quarter. Timber Hill LLC acquired a new stake in VeriFone Systems during the second quarter worth approximately $214,000. Carret Asset Management LLC grew its position in VeriFone Systems by 22.1% during the second quarter. Carret Asset Management LLC now owns 14,100 shares of the business services provider’s stock worth $255,000 after buying an additional 2,550 shares in the last quarter. Finally, Turner Investments LLC acquired a new stake in VeriFone Systems during the third quarter worth approximately $284,000.
A number of equities research analysts recently issued reports on the company. Zacks Investment Research raised VeriFone Systems from a “sell” rating to a “hold” rating in a research report on Wednesday, September 20th. Barclays reissued a “hold” rating and set a $22.00 price target on shares of VeriFone Systems in a research report on Friday, September 29th. Raymond James Financial downgraded VeriFone Systems from a “strong-buy” rating to an “outperform” rating in a research report on Sunday, November 26th. Credit Suisse Group increased their price target on VeriFone Systems from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 13th. Finally, Jefferies Group reissued a “buy” rating and set a $23.00 price target (up previously from $20.00) on shares of VeriFone Systems in a research report on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have issued a buy rating to the stock. VeriFone Systems has an average rating of “Hold” and a consensus target price of $20.02.
VeriFone Systems (NYSE:PAY) last issued its earnings results on Tuesday, December 12th. The business services provider reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. The firm had revenue of $477.00 million for the quarter, compared to the consensus estimate of $472.33 million. VeriFone Systems had a positive return on equity of 13.52% and a negative net margin of 9.29%. The company’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.30 EPS. equities research analysts expect that VeriFone Systems Inc will post 1.2 earnings per share for the current year.
VeriFone Systems announced that its Board of Directors has authorized a share buyback plan on Tuesday, December 12th that allows the company to repurchase $100.00 million in outstanding shares. This repurchase authorization allows the business services provider to buy shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s board believes its stock is undervalued.
WARNING: “Point72 Asset Management L.P. Takes Position in VeriFone Systems Inc (PAY)” was reported by Community Financial News and is the property of of Community Financial News. If you are accessing this piece on another site, it was stolen and republished in violation of United States and international copyright law. The legal version of this piece can be accessed at https://www.com-unik.info/2017/12/24/point72-asset-management-l-p-takes-position-in-verifone-systems-inc-pay.html.
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.
Receive News & Ratings for VeriFone Systems Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VeriFone Systems and related companies with MarketBeat.com's FREE daily email newsletter.