Verifone Systems, Inc. (PAY) Downgraded by UBS AG

UBS AG lowered shares of Verifone Systems, Inc. (NYSE:PAY) from a strong-buy rating to an outperform rating in a research report released on Thursday morning, The Fly reports.

PAY has been the topic of a number of other reports. Piper Jaffray Companies reissued a hold rating and issued a $20.00 price target on shares of Verifone Systems in a report on Friday, September 8th. Zacks Investment Research downgraded shares of Verifone Systems from a hold rating to a sell rating in a report on Friday, September 8th. Barclays PLC reissued a hold rating and issued a $22.00 price target on shares of Verifone Systems in a report on Friday, September 29th. BidaskClub downgraded shares of 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. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and four have given a buy rating to the stock. The company has a consensus rating of Hold and a consensus target price of $19.33.

Verifone Systems (NYSE:PAY) traded up $0.17 on Thursday, reaching $17.30. 1,493,509 shares of the company’s stock were exchanged, compared to its average volume of 1,249,480. The company has a quick ratio of 1.10, a current ratio of 1.32 and a debt-to-equity ratio of 1.04. The stock has a market cap of $1,934.76, a P/E ratio of 21.36, a price-to-earnings-growth ratio of 1.27 and a beta of 2.01. Verifone Systems has a 1 year low of $15.10 and a 1 year high of $21.48.

Verifone Systems (NYSE:PAY) last issued its quarterly earnings results on Thursday, September 7th. The business services provider reported $0.36 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.36. The company had revenue of $466.90 million for 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 firm’s quarterly revenue was down 5.2% on a year-over-year basis. During the same period in the previous year, the firm earned $0.42 EPS. sell-side analysts forecast that Verifone Systems will post 0.99 EPS for the current fiscal year.

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Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. increased its position in shares of Verifone Systems by 13.5% during the second quarter. BlackRock Inc. now owns 16,668,535 shares of the business services provider’s stock valued at $301,702,000 after buying an additional 1,982,859 shares during the period. Vanguard Group Inc. increased its position in shares of Verifone Systems by 4.2% during the second quarter. Vanguard Group Inc. now owns 9,365,370 shares of the business services provider’s stock valued at $169,513,000 after buying an additional 376,008 shares during the period. Bank of New York Mellon Corp increased its position in shares of Verifone Systems by 5.2% during the third quarter. Bank of New York Mellon Corp now owns 5,287,738 shares of the business services provider’s stock valued at $107,236,000 after buying an additional 261,117 shares during the period. Alliancebernstein L.P. increased its position in shares of Verifone Systems by 18.6% during the second quarter. Alliancebernstein L.P. now owns 4,745,833 shares of the business services provider’s stock valued at $85,900,000 after buying an additional 742,871 shares during the period. Finally, Fuller & Thaler Asset Management Inc. increased its position in shares of Verifone Systems by 1.2% during the third quarter. Fuller & Thaler Asset Management Inc. now owns 4,262,713 shares of the business services provider’s stock valued at $86,448,000 after buying an additional 50,135 shares during the period.

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.

The Fly

Analyst Recommendations for Verifone Systems (NYSE:PAY)

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