Verifone Systems (PAY) Given Hold Rating at Barclays

Barclays reaffirmed their hold rating on shares of Verifone Systems (NYSE:PAY) in a research report sent to investors on Friday morning. Barclays currently has a $21.00 price target on the business services provider’s stock.

PAY has been the topic of several other research reports. Zacks Investment Research upgraded shares of Verifone Systems from a sell rating to a hold rating in a research report on Wednesday, September 20th. BidaskClub upgraded shares of Verifone Systems from a sell rating to a hold rating in a research report on Wednesday, August 23rd. Raymond James Financial lowered shares of 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 shares of 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 reiterated 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 given a hold rating and four have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $20.02.

Verifone Systems (NYSE PAY) opened at $18.63 on Friday. Verifone Systems has a fifty-two week low of $16.80 and a fifty-two week high of $21.48. The company has a market cap of $2,043.24, a P/E ratio of 19.23, a PEG ratio of 1.45 and a beta of 1.96. The company has a current ratio of 1.33, a quick ratio of 1.10 and a debt-to-equity ratio of 0.97.

Verifone Systems (NYSE:PAY) last posted its quarterly earnings results on Tuesday, December 12th. The business services provider reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The business had revenue of $477.00 million for the quarter, compared to analyst estimates of $472.33 million. Verifone Systems had a negative net margin of 9.29% and a positive return on equity of 13.52%. The firm’s revenue for the quarter was up 2.8% on a year-over-year basis. During the same quarter last year, the business posted $0.30 EPS. research analysts predict that Verifone Systems will post 1.2 EPS for the current fiscal year.

Verifone Systems announced that its Board of Directors has authorized a share repurchase plan on Tuesday, December 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

A number of institutional investors have recently modified their holdings of PAY. Bank of New York Mellon Corp boosted its position in Verifone Systems by 300.1% in the second 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 buying an additional 3,770,155 shares in the last quarter. BlackRock Inc. boosted its position in Verifone Systems by 13.5% in the second quarter. BlackRock Inc. now owns 16,668,535 shares of the business services provider’s stock valued at $301,702,000 after buying an additional 1,982,859 shares in the last quarter. Epoch Investment Partners Inc. acquired a new stake in Verifone Systems in the second quarter valued at approximately $25,839,000. State Street Corp boosted its position in Verifone Systems by 27.8% in the second quarter. State Street Corp now owns 3,612,321 shares of the business services provider’s stock valued at $65,386,000 after buying an additional 786,774 shares in the last quarter. Finally, Northern Trust Corp boosted its position in Verifone Systems by 81.9% in the second quarter. Northern Trust Corp now owns 1,710,176 shares of the business services provider’s stock valued at $30,954,000 after buying an additional 769,788 shares in the last quarter.

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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.

Analyst Recommendations for Verifone Systems (NYSE:PAY)

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