Tdam USA Inc. lowered its stake in shares of VeriFone Systems Inc (NYSE:PAY) by 57.0% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 24,256 shares of the business services provider’s stock after selling 32,197 shares during the period. Tdam USA Inc.’s holdings in VeriFone Systems were worth $373,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. Amundi Pioneer Asset Management Inc. bought a new position in shares of VeriFone Systems in the fourth quarter worth $123,000. Stone Ridge Asset Management LLC purchased a new stake in shares of VeriFone Systems during the fourth quarter worth about $186,000. BKS Advisors LLC purchased a new stake in shares of VeriFone Systems during the first quarter worth about $163,000. FDx Advisors Inc. purchased a new stake in shares of VeriFone Systems during the fourth quarter worth about $199,000. Finally, Xact Kapitalforvaltning AB purchased a new stake in VeriFone Systems in the fourth quarter worth about $216,000.
Several analysts have commented on the stock. Piper Jaffray Companies restated a “hold” rating and issued a $23.04 price objective on shares of VeriFone Systems in a report on Tuesday, April 10th. Craig Hallum downgraded shares of VeriFone Systems from a “buy” rating to a “hold” rating in a research report on Tuesday, April 10th. TheStreet raised shares of VeriFone Systems from a “d+” rating to a “c-” rating in a research report on Monday, April 16th. BTIG Research reaffirmed a “hold” rating on shares of VeriFone Systems in a research report on Sunday, March 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of VeriFone Systems from $20.00 to $23.00 and gave the company a “neutral” rating in a research note on Tuesday, April 10th. One analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have given a buy rating to the stock. VeriFone Systems presently has a consensus rating of “Hold” and an average target price of $20.92.
Shares of PAY traded down $0.04 during trading on Friday, reaching $22.80. 1,635,607 shares of the company traded hands, compared to its average volume of 2,282,291. VeriFone Systems Inc has a twelve month low of $14.90 and a twelve month high of $23.14. The stock has a market cap of $2.53 billion, a PE ratio of 24.00, a P/E/G ratio of 1.26 and a beta of 1.66. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.35 and a quick ratio of 1.10.
VeriFone Systems (NYSE:PAY) last announced its quarterly earnings data on Thursday, March 8th. The business services provider reported $0.23 earnings per share for the quarter, missing analysts’ consensus estimates of $0.25 by ($0.02). VeriFone Systems had a negative net margin of 8.09% and a positive return on equity of 14.11%. The business had revenue of $425.00 million during the quarter, compared to analyst estimates of $419.43 million. During the same quarter last year, the firm posted $0.21 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. sell-side analysts expect that VeriFone Systems Inc will post 1.22 earnings per share for the current fiscal year.
VeriFone Systems Company Profile
VeriFone Systems, Inc provides payments and commerce solutions at the point of sale (POS) worldwide. It offers countertop solutions that accept payment options, including contactless, NFC, mobile wallets, and EMV; PIN pads that support credit and debit card, EBT, EMV, and other PIN-based transactions; and multilane consumer facing commerce devices.
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