California Public Employees Retirement System Grows Position in VeriFone Systems Inc (PAY)

California Public Employees Retirement System increased its holdings in VeriFone Systems Inc (NYSE:PAY) by 1.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,147,906 shares of the business services provider’s stock after acquiring an additional 18,306 shares during the quarter. California Public Employees Retirement System owned approximately 1.03% of VeriFone Systems worth $23,280,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Cubist Systematic Strategies LLC purchased a new stake in shares of VeriFone Systems during the third quarter valued at about $591,000. Point72 Asset Management L.P. purchased a new stake in shares of VeriFone Systems during the third quarter valued at about $518,000. Highbridge Capital Management LLC purchased a new stake in shares of VeriFone Systems during the third quarter valued at about $300,000. Zions Bancorporation purchased a new stake in shares of VeriFone Systems during the third quarter valued at about $108,000. Finally, Engineers Gate Manager LP lifted its position in shares of VeriFone Systems by 97.2% during the third quarter. Engineers Gate Manager LP now owns 169,200 shares of the business services provider’s stock valued at $3,431,000 after buying an additional 83,414 shares during the last quarter.

Several research firms have commented on PAY. Barclays reissued a “hold” rating and set a $22.00 price target on shares of VeriFone Systems in a research report on Friday, September 29th. Zacks Investment Research lowered shares of VeriFone Systems from a “hold” rating to a “strong sell” rating in a research report on Monday. Tigress Financial reissued a “buy” rating on shares of VeriFone Systems in a research report on Tuesday. Bank of America began coverage on shares of VeriFone Systems in a research report on Tuesday, September 12th. They set an “underperform” rating and a $19.00 price target for the company. Finally, Credit Suisse Group increased their price target on shares of VeriFone Systems from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $20.02.

VeriFone Systems Inc (PAY) opened at $17.76 on Thursday. VeriFone Systems Inc has a fifty-two week low of $16.80 and a fifty-two week high of $21.48. The company has a debt-to-equity ratio of 0.97, a current ratio of 1.33 and a quick ratio of 1.09. The firm has a market cap of $2,011.57, a P/E ratio of 18.84, a P/E/G ratio of 1.43 and a beta of 1.96.

VeriFone Systems (NYSE:PAY) last issued its quarterly earnings data on Tuesday, December 12th. The business services provider reported $0.44 EPS for the quarter, topping analysts’ consensus estimates of $0.43 by $0.01. The business had revenue of $477.00 million for the quarter, compared to analysts’ expectations of $472.33 million. VeriFone Systems had a negative net margin of 9.29% and a positive return on equity of 13.52%. The business’s revenue was up 2.8% on a year-over-year basis. During the same quarter last year, the company earned $0.30 EPS. analysts expect that VeriFone Systems Inc will post 1.2 earnings per share for the current year.

VeriFone Systems announced that its Board of Directors has approved a share repurchase program on Tuesday, December 12th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its shares are undervalued.

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VeriFone Systems 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.

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

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