Phocas Financial Corp. Purchases New Position in Verifone Systems, Inc. (NYSE:PAY)

Phocas Financial Corp. purchased a new position in Verifone Systems, Inc. (NYSE:PAY) in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 31,612 shares of the business services provider’s stock, valued at approximately $587,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Bbva Compass Bancshares Inc. increased its holdings in Verifone Systems by 1.2% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 19,628 shares of the business services provider’s stock worth $355,000 after acquiring an additional 229 shares in the last quarter. Metropolitan Life Insurance Co. NY grew its holdings in shares of Verifone Systems by 0.3% during the first quarter. Metropolitan Life Insurance Co. NY now owns 108,304 shares of the business services provider’s stock worth $2,029,000 after buying an additional 281 shares in the last quarter. Hanson & Doremus Investment Management grew its holdings in shares of Verifone Systems by 0.4% during the second quarter. Hanson & Doremus Investment Management now owns 107,215 shares of the business services provider’s stock worth $1,941,000 after buying an additional 455 shares in the last quarter. Advantus Capital Management Inc grew its holdings in shares of Verifone Systems by 3.6% during the first quarter. Advantus Capital Management Inc now owns 14,286 shares of the business services provider’s stock worth $268,000 after buying an additional 495 shares in the last quarter. Finally, Comerica Bank grew its holdings in shares of Verifone Systems by 0.5% during the second quarter. Comerica Bank now owns 107,747 shares of the business services provider’s stock worth $2,120,000 after buying an additional 535 shares in the last quarter.

Verifone Systems, Inc. (NYSE PAY) traded down 0.72% during mid-day trading on Friday, reaching $19.35. The company had a trading volume of 211,799 shares. The firm’s market capitalization is $2.17 billion. Verifone Systems, Inc. has a 12 month low of $15.10 and a 12 month high of $21.48. The stock’s 50-day moving average is $20.38 and its 200 day moving average is $18.99.

Verifone Systems (NYSE:PAY) last posted its earnings results on Thursday, September 7th. The business services provider reported $0.36 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.36. The firm had revenue of $466.90 million for the quarter, compared to analyst estimates of $464.13 million. Verifone Systems had a positive return on equity of 11.19% and a negative net margin of 9.76%. The company’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period in the previous year, the company posted $0.42 earnings per share. On average, analysts predict that Verifone Systems, Inc. will post $1.30 earnings per share for the current fiscal year.

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A number of research analysts have commented on PAY shares. Barclays PLC reaffirmed a “hold” rating and issued a $22.00 target price on shares of Verifone Systems in a research report on Friday, September 29th. BidaskClub cut shares of Verifone Systems from a “hold” rating to a “sell” rating in a research report on Wednesday, August 16th. Zacks Investment Research cut shares of Verifone Systems from a “hold” rating to a “sell” rating in a research report on Monday, August 14th. Bank of America Corporation initiated 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 on the stock. Finally, BTIG Research reaffirmed a “hold” rating on shares of Verifone Systems in a report on Monday, September 11th. One equities research analyst has rated the stock with a sell rating, sixteen have issued a hold rating and two have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $19.15.

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.

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

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