Whittier Trust Co. lessened its stake in shares of Verifone Systems, Inc. (NYSE:PAY) by 55.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 46,810 shares of the business services provider’s stock after selling 57,357 shares during the period. Whittier Trust Co.’s holdings in Verifone Systems were worth $949,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. UBS Asset Management Americas Inc. lifted its holdings in Verifone Systems by 14.2% during the 1st quarter. UBS Asset Management Americas Inc. now owns 92,095 shares of the business services provider’s stock worth $1,725,000 after buying an additional 11,417 shares during the period. Karp Capital Management Corp acquired a new position in Verifone Systems during the 1st quarter worth about $265,000. JPMorgan Chase & Co. lifted its holdings in Verifone Systems by 5.6% during the 1st quarter. JPMorgan Chase & Co. now owns 72,890 shares of the business services provider’s stock worth $1,365,000 after buying an additional 3,890 shares during the period. Credit Agricole S A lifted its holdings in Verifone Systems by 93.6% during the 1st quarter. Credit Agricole S A now owns 25,501 shares of the business services provider’s stock worth $478,000 after buying an additional 12,326 shares during the period. Finally, OppenheimerFunds Inc. lifted its holdings in Verifone Systems by 12.6% during the 1st quarter. OppenheimerFunds Inc. now owns 26,012 shares of the business services provider’s stock worth $487,000 after buying an additional 2,901 shares during the period.
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A number of research analysts have recently issued reports on PAY shares. Piper Jaffray Companies reissued a “hold” rating and issued a $20.00 price objective on shares of Verifone Systems in a research note on Friday, September 8th. Zacks Investment Research lowered Verifone Systems from a “hold” rating to a “sell” rating in a research report on Friday, September 8th. 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 lowered Verifone Systems from a “hold” rating to a “sell” rating in a report on Wednesday, August 16th. Finally, BTIG Research reissued a “hold” rating on shares of Verifone Systems in a report on Monday, September 11th. One analyst has rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $19.15.
Verifone Systems, Inc. (PAY) traded up $0.16 during trading on Friday, hitting $17.91. 1,640,700 shares of the stock were exchanged, compared to its average volume of 1,622,848. The company has a current ratio of 1.32, a quick ratio of 1.10 and a debt-to-equity ratio of 1.04. Verifone Systems, Inc. has a one year low of $15.10 and a one year high of $21.48. The stock has a market capitalization of $1,985.09, a price-to-earnings ratio of 21.91, a P/E/G ratio of 1.30 and a beta of 2.01.
Verifone Systems (NYSE:PAY) last announced its earnings results on Thursday, September 7th. The business services provider reported $0.36 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.36. The business had revenue of $466.90 million during the quarter, compared to the consensus estimate of $464.13 million. Verifone Systems had a negative net margin of 9.76% and a positive return on equity of 11.19%. The business’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same quarter last year, the firm earned $0.42 earnings per share. sell-side analysts anticipate that Verifone Systems, Inc. will post 0.99 earnings per share for the current year.
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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