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.
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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.
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