Raymond James Financial Services Advisors Inc. lessened its position in VeriFone Systems Inc (NYSE:PAY) by 18.9% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 46,703 shares of the business services provider’s stock after selling 10,887 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in VeriFone Systems were worth $827,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in PAY. Zions Bancorporation bought a new position in shares of VeriFone Systems in the third quarter valued at approximately $108,000. Turner Investments LLC bought a new position in shares of VeriFone Systems in the third quarter valued at approximately $284,000. Highbridge Capital Management LLC bought a new position in shares of VeriFone Systems in the third quarter valued at approximately $300,000. ING Groep NV lifted its holdings in shares of VeriFone Systems by 23.6% in the fourth quarter. ING Groep NV now owns 16,930 shares of the business services provider’s stock valued at $300,000 after purchasing an additional 3,233 shares in the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its holdings in shares of VeriFone Systems by 25.5% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 20,488 shares of the business services provider’s stock valued at $363,000 after purchasing an additional 4,167 shares in the last quarter.
A number of research analysts have recently weighed in on the company. BTIG Research restated a “hold” rating on shares of VeriFone Systems in a report on Sunday. Credit Suisse Group raised their target price on VeriFone Systems from $20.00 to $21.00 and gave the company a “neutral” rating in a report on Wednesday, December 13th. Zacks Investment Research lowered VeriFone Systems from a “hold” rating to a “strong sell” rating in a report on Monday, December 18th. Barclays restated a “hold” rating and issued a $21.00 target price on shares of VeriFone Systems in a report on Friday, December 15th. Finally, Tigress Financial restated a “buy” rating on shares of VeriFone Systems in a report on Tuesday, December 19th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the stock. VeriFone Systems currently has an average rating of “Hold” and a consensus target price of $20.27.
VeriFone Systems (NYSE:PAY) last issued its quarterly earnings results on Thursday, March 8th. The business services provider reported $0.23 EPS for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). The business had revenue of $425.00 million for the quarter, compared to the consensus estimate of $419.43 million. VeriFone Systems had a positive return on equity of 14.11% and a negative net margin of 8.09%. The business’s revenue was up .0% compared to the same quarter last year. During the same quarter last year, the business posted $0.21 earnings per share. analysts anticipate that VeriFone Systems Inc will post 1.2 EPS for the current fiscal year.
VeriFone Systems announced that its Board of Directors has approved a share buyback program on Tuesday, December 12th that allows the company to buyback $100.00 million in outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s management believes its stock is undervalued.
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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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