Phocas Financial Corp. Takes Position in Verifone Systems, Inc. (PAY)

Phocas Financial Corp. purchased a new stake in shares of Verifone Systems, Inc. (NYSE:PAY) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 31,612 shares of the business services provider’s stock, valued at approximately $587,000.

Several other large investors have also recently bought and sold shares of PAY. Riverhead Capital Management LLC grew its holdings in shares of Verifone Systems by 80.9% during the second quarter. Riverhead Capital Management LLC now owns 6,693 shares of the business services provider’s stock valued at $121,000 after buying an additional 2,993 shares during the last quarter. FNY Managed Accounts LLC purchased a new stake in shares of Verifone Systems during the first quarter valued at approximately $131,000. LS Investment Advisors LLC grew its holdings in shares of Verifone Systems by 22.3% during the second quarter. LS Investment Advisors LLC now owns 9,213 shares of the business services provider’s stock valued at $167,000 after buying an additional 1,679 shares during the last quarter. Shelton Capital Management purchased a new stake in shares of Verifone Systems during the first quarter valued at approximately $203,000. Finally, Timber Hill LLC purchased a new stake in shares of Verifone Systems during the second quarter valued at approximately $214,000.

Shares of Verifone Systems, Inc. (NYSE PAY) traded up 0.45% during mid-day trading on Wednesday, hitting $20.18. 221,594 shares of the stock were exchanged. The company’s market cap is $2.26 billion. The stock’s 50-day moving average price is $20.32 and its 200-day moving average price is $18.91. Verifone Systems, Inc. has a 52-week low of $14.94 and a 52-week high of $21.48.

Verifone Systems (NYSE:PAY) last announced its quarterly earnings data on Thursday, September 7th. The business services provider reported $0.36 EPS for the quarter, meeting the 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 business 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 EPS. The business’s quarterly revenue was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that Verifone Systems, Inc. will post $1.30 earnings per share for the current fiscal year.

A number of equities research analysts have recently commented on the stock. BidaskClub cut shares of Verifone Systems from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Zacks Investment Research upgraded shares of Verifone Systems from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Barclays PLC reiterated a “hold” rating and set a $22.00 price target on shares of Verifone Systems in a report on Friday, September 29th. Jefferies Group LLC reiterated a “buy” rating and set a $23.00 price target (up previously from $20.00) on shares of Verifone Systems in a report on Monday, September 11th. Finally, Piper Jaffray Companies reiterated a “hold” rating and set a $20.00 price target on shares of Verifone Systems in a report on Friday, September 8th. One research analyst has rated the stock with a sell rating, sixteen have given a hold rating and two have issued a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $19.15.

TRADEMARK VIOLATION NOTICE: This story was first posted by Dispatch Tribunal and is the property of of Dispatch Tribunal. If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and international trademark and copyright law. The legal version of this story can be accessed at https://www.dispatchtribunal.com/2017/10/18/phocas-financial-corp-takes-position-in-verifone-systems-inc-pay.html.

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.

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

Receive News & Ratings for Verifone Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Verifone Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply