UBS Downgrades Verifone Systems (NYSE:PAY) to Outperform

UBS lowered shares of Verifone Systems (NYSE:PAY) from a strong-buy rating to an outperform rating in a report released on Thursday, November 16th, The Fly reports.

A number of other research firms also recently weighed in on PAY. Barclays restated a hold rating and set a $22.00 target price on shares of Verifone Systems in a research report on Friday, September 29th. BidaskClub downgraded Verifone Systems from a hold rating to a sell rating in a research report on Wednesday, August 16th. Zacks Investment Research downgraded Verifone Systems from a hold rating to a sell rating in a research report on Monday, August 14th. Bank of America began coverage on Verifone Systems in a research report on Tuesday, September 12th. They set an underperform rating and a $19.00 target price for the company. Finally, BTIG Research restated a hold rating on shares of Verifone Systems in a research report on Monday, September 11th. Two investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and four have issued a buy rating to the company’s stock. Verifone Systems currently has a consensus rating of Hold and a consensus target price of $19.61.

Shares of Verifone Systems (NYSE PAY) opened at $17.66 on Thursday. The company has a debt-to-equity ratio of 1.04, a current ratio of 1.32 and a quick ratio of 1.10. The company has a market capitalization of $1,957.13, a price-to-earnings ratio of 21.60, a P/E/G ratio of 1.30 and a beta of 1.96. Verifone Systems has a one year low of $15.61 and a one year high of $21.48.

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

Several institutional investors have recently made changes to their positions in the business. Barrow Hanley Mewhinney & Strauss LLC increased its holdings in shares of Verifone Systems by 27,645.1% in the third quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 241,105 shares of the business services provider’s stock worth $4,890,000 after acquiring an additional 240,236 shares in the last quarter. GSA Capital Partners LLP acquired a new position in shares of Verifone Systems during the third quarter worth about $531,000. Neuberger Berman Group LLC boosted its position in shares of Verifone Systems by 22.0% during the third quarter. Neuberger Berman Group LLC now owns 1,646,427 shares of the business services provider’s stock worth $33,390,000 after buying an additional 297,362 shares during the period. California Public Employees Retirement System boosted its position in shares of Verifone Systems by 1.6% during the third quarter. California Public Employees Retirement System now owns 1,147,906 shares of the business services provider’s stock worth $23,280,000 after buying an additional 18,306 shares during the period. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of Verifone Systems during the third quarter worth about $591,000.

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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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