145,069 Shares in Verifone Systems, Inc. (PAY) Acquired by Dynamic Technology Lab Private Ltd

Dynamic Technology Lab Private Ltd bought a new stake in Verifone Systems, Inc. (NYSE:PAY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 145,069 shares of the business services provider’s stock, valued at approximately $2,941,000. Verifone Systems comprises about 0.5% of Dynamic Technology Lab Private Ltd’s investment portfolio, making the stock its 9th biggest position. Dynamic Technology Lab Private Ltd owned approximately 0.13% of Verifone Systems at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Rhumbline Advisers raised its position in shares of Verifone Systems by 5.0% in the 2nd quarter. Rhumbline Advisers now owns 228,791 shares of the business services provider’s stock valued at $4,141,000 after acquiring an additional 10,875 shares during the period. Bank of New York Mellon Corp raised its position in shares of Verifone Systems by 300.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 5,026,621 shares of the business services provider’s stock valued at $90,982,000 after acquiring an additional 3,770,155 shares during the period. BlackRock Inc. raised its position in shares of Verifone Systems by 13.5% in the 2nd quarter. BlackRock Inc. now owns 16,668,535 shares of the business services provider’s stock valued at $301,702,000 after acquiring an additional 1,982,859 shares during the period. Hanson & Doremus Investment Management raised its position in shares of Verifone Systems by 0.4% in the 2nd quarter. Hanson & Doremus Investment Management now owns 107,215 shares of the business services provider’s stock valued at $1,941,000 after acquiring an additional 455 shares during the period. Finally, DORCHESTER WEALTH MANAGEMENT Co raised its position in shares of Verifone Systems by 19.8% in the 2nd quarter. DORCHESTER WEALTH MANAGEMENT Co now owns 153,240 shares of the business services provider’s stock valued at $2,774,000 after acquiring an additional 25,285 shares during the period.

Verifone Systems, Inc. (NYSE:PAY) traded up $0.17 during mid-day trading on Friday, reaching $17.30. 1,493,509 shares of the company’s stock were exchanged, compared to its average volume of 1,249,480. The company has a debt-to-equity ratio of 1.04, a quick ratio of 1.10 and a current ratio of 1.32. Verifone Systems, Inc. has a 1 year low of $15.10 and a 1 year high of $21.48. The company has a market capitalization of $1,934.76, a PE ratio of 21.36, a price-to-earnings-growth ratio of 1.27 and a beta of 2.01.

Verifone Systems (NYSE:PAY) last released its quarterly earnings data on Thursday, September 7th. The business services provider reported $0.36 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 firm had revenue of $466.90 million during the quarter, compared to analysts’ expectations of $464.13 million. During the same period in the previous year, the business posted $0.42 earnings per share. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. research analysts expect that Verifone Systems, Inc. will post 0.99 EPS for the current fiscal year.

A number of analysts recently weighed in on the stock. Jefferies Group LLC reiterated a “buy” rating and issued a $23.00 price target (up from $20.00) on shares of Verifone Systems in a research report on Monday, September 11th. Zacks Investment Research upgraded shares of Verifone Systems from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Raymond James Financial, Inc. downgraded shares of Verifone Systems from a “strong-buy” rating to an “outperform” rating and dropped their target price for the stock from $25.00 to $22.00 in a report on Thursday. Bank of America Corporation initiated coverage on shares of Verifone Systems in a report on Tuesday, September 12th. They set an “underperform” rating and a $19.00 target price on the stock. Finally, BidaskClub upgraded shares of Verifone Systems from a “sell” rating to a “hold” rating in a report on Wednesday, August 23rd. Two research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and four have assigned a buy rating to the company. Verifone Systems currently has a consensus rating of “Hold” and an average price target of $19.33.

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About Verifone Systems

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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