Wells Fargo & Company MN trimmed its stake in shares of VeriFone Systems Inc (NYSE:PAY) by 13.9% in the fourth quarter, according to the company in its most recent filing with the SEC. The firm owned 887,901 shares of the business services provider’s stock after selling 142,939 shares during the quarter. Wells Fargo & Company MN’s holdings in VeriFone Systems were worth $15,724,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. Zions Bancorporation bought a new stake in shares of VeriFone Systems during the 3rd quarter worth $108,000. Turner Investments LLC bought a new stake in shares of VeriFone Systems during the 3rd quarter worth $284,000. Highbridge Capital Management LLC bought a new stake in shares of VeriFone Systems during the 3rd quarter worth $300,000. ING Groep NV lifted its position in shares of VeriFone Systems by 23.6% during the 4th quarter. ING Groep NV now owns 16,930 shares of the business services provider’s stock worth $300,000 after buying an additional 3,233 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI lifted its position in shares of VeriFone Systems by 25.5% during the 4th quarter. Commerzbank Aktiengesellschaft FI now owns 20,488 shares of the business services provider’s stock worth $363,000 after buying an additional 4,167 shares during the last quarter.
VeriFone Systems Inc (NYSE PAY) opened at $17.97 on Wednesday. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.35 and a quick ratio of 1.10. The company has a market capitalization of $1,980.00, a PE ratio of -19.53, a price-to-earnings-growth ratio of 1.88 and a beta of 1.77. VeriFone Systems Inc has a 1 year low of $16.00 and a 1 year high of $21.48.
VeriFone Systems declared that its board has approved a stock repurchase plan on Tuesday, December 12th that permits the company to repurchase $100.00 million in shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s management believes its shares are undervalued.
Several brokerages recently weighed in on PAY. BTIG Research restated a “hold” rating on shares of VeriFone Systems in a research report on Sunday. Credit Suisse Group upped their price objective on VeriFone Systems from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 13th. Zacks Investment Research downgraded VeriFone Systems from a “hold” rating to a “strong sell” rating in a research report on Monday, December 18th. Barclays restated a “hold” rating and set a $21.00 price objective on shares of VeriFone Systems in a research report on Friday, December 15th. Finally, Tigress Financial restated a “buy” rating on shares of VeriFone Systems in a research report on Tuesday, December 19th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating and four have given a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus price target of $20.80.
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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