Verifone Systems, Inc. (PAY) Shares Up 5.8%

Verifone Systems, Inc. (NYSE:PAY) was up 5.8% on Monday . The company traded as high as $20.92 and last traded at $20.69. Approximately 3,971,097 shares traded hands during trading, an increase of 140% from the average daily volume of 1,657,870 shares. The stock had previously closed at $19.56.

Several research firms have recently commented on PAY. BidaskClub raised shares of Verifone Systems from a “hold” rating to a “buy” rating in a research note on Wednesday, July 19th. Jefferies Group LLC reissued a “buy” rating and issued a $23.00 price objective (up previously from $20.00) on shares of Verifone Systems in a research note on Monday. Barclays PLC reissued an “equal weight” rating and issued a $20.00 price objective (down previously from $22.00) on shares of Verifone Systems in a research note on Sunday, June 11th. Zacks Investment Research raised shares of Verifone Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Finally, Piper Jaffray Companies reissued a “hold” rating and issued a $20.00 price objective on shares of Verifone Systems in a research note on Friday, September 8th. Two equities research analysts have rated the stock with a sell rating, fourteen have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $18.81.

The stock’s market capitalization is $2.39 billion. The stock has a 50-day moving average price of $19.31 and a 200 day moving average price of $18.73.

Verifone Systems (NYSE:PAY) last issued its quarterly earnings data on Thursday, September 7th. The business services provider reported $0.36 earnings per share (EPS) for the quarter, meeting the Thomson Reuters’ 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 during the quarter, compared to the consensus estimate of $464.13 million. During the same quarter last year, the company earned $0.42 earnings per share. Verifone Systems’s revenue for the quarter was down 5.2% on a year-over-year basis. Analysts forecast that Verifone Systems, Inc. will post $1.30 EPS for the current fiscal year.

A number of large investors have recently modified their holdings of PAY. Bank of Montreal Can grew its position in 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 valued at $138,000 after acquiring an additional 1,281 shares in the last quarter. Louisiana State Employees Retirement System grew its position in Verifone Systems by 2.9% in the first quarter. Louisiana State Employees Retirement System now owns 28,200 shares of the business services provider’s stock valued at $528,000 after acquiring an additional 800 shares in the last quarter. Nationwide Fund Advisors grew its position in Verifone Systems by 1.2% in the first quarter. Nationwide Fund Advisors now owns 186,289 shares of the business services provider’s stock valued at $3,489,000 after acquiring an additional 2,145 shares in the last quarter. Janney Montgomery Scott LLC grew 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 acquiring an additional 6,670 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund grew 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 acquiring an additional 500 shares in the last quarter.

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Verifone Systems Company 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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