Amalgamated Bank Sells 1,997 Shares of Verifone Systems, Inc. (PAY)

Amalgamated Bank lowered its position in shares of Verifone Systems, Inc. (NYSE:PAY) by 11.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,629 shares of the business services provider’s stock after selling 1,997 shares during the quarter. Amalgamated Bank’s holdings in Verifone Systems were worth $283,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in PAY. BlackRock Inc. raised its position in shares of Verifone Systems by 12,855.8% during the first quarter. BlackRock Inc. now owns 14,685,676 shares of the business services provider’s stock worth $275,064,000 after acquiring an additional 14,572,324 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Verifone Systems by 300.1% during the second quarter. Bank of New York Mellon Corp now owns 5,026,621 shares of the business services provider’s stock worth $90,982,000 after acquiring an additional 3,770,155 shares during the last quarter. Dimensional Fund Advisors LP raised its position in shares of Verifone Systems by 51.9% during the first quarter. Dimensional Fund Advisors LP now owns 3,049,305 shares of the business services provider’s stock worth $57,115,000 after acquiring an additional 1,041,365 shares during the last quarter. Causeway Capital Management LLC raised its position in shares of Verifone Systems by 11.5% during the first quarter. Causeway Capital Management LLC now owns 7,981,839 shares of the business services provider’s stock worth $171,223,000 after acquiring an additional 823,780 shares during the last quarter. Finally, Alliancebernstein L.P. raised its position in shares of Verifone Systems by 18.6% during the second quarter. Alliancebernstein L.P. now owns 4,745,833 shares of the business services provider’s stock worth $85,900,000 after acquiring an additional 742,871 shares during the last quarter.

A number of equities research analysts recently commented on PAY shares. BMO Capital Markets decreased their price objective on Verifone Systems from $21.00 to $20.00 and set a “market perform” rating for the company in a research note on Friday, June 16th. BidaskClub cut Verifone Systems from a “hold” rating to a “sell” rating in a research note on Tuesday, June 20th. Zacks Investment Research raised Verifone Systems from a “sell” rating to a “hold” rating in a research note on Wednesday, August 2nd. Northcoast Research cut Verifone Systems from a “buy” rating to a “neutral” rating in a research note on Wednesday, September 6th. Finally, Piper Jaffray Companies reaffirmed a “hold” rating and set a $20.00 price objective on shares of Verifone Systems in a research note on Friday, September 8th. One equities research analyst has rated the stock with a sell rating, sixteen have given a hold rating and three have given a buy rating to the company’s stock. Verifone Systems currently has an average rating of “Hold” and an average target price of $19.20.

Shares of Verifone Systems, Inc. (NYSE:PAY) opened at 20.28 on Thursday. The company’s market cap is $2.28 billion. The firm has a 50-day moving average price of $20.22 and a 200 day moving average price of $18.89. Verifone Systems, Inc. has a 1-year low of $14.94 and a 1-year high of $21.48.

Verifone Systems (NYSE:PAY) last announced its earnings results on Thursday, September 7th. The business services provider reported $0.36 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.36. Verifone Systems had a positive return on equity of 11.19% and a negative net margin of 9.76%. The firm had revenue of $466.90 million for the quarter, compared to the consensus estimate of $464.13 million. During the same quarter in the previous year, the business earned $0.42 EPS. The company’s revenue was down 5.2% compared to the same quarter last year. On average, analysts predict that Verifone Systems, Inc. will post $1.30 EPS for the current fiscal year.

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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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Institutional Ownership by Quarter for Verifone Systems (NYSE:PAY)

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