Barrow Hanley Mewhinney & Strauss LLC lessened its holdings in shares of VeriFone Systems Inc (NYSE:PAY) by 22.4% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 187,107 shares of the business services provider’s stock after selling 53,998 shares during the quarter. Barrow Hanley Mewhinney & Strauss LLC’s holdings in VeriFone Systems were worth $3,313,000 as of its most recent filing with the SEC.
Several other institutional investors and hedge funds have also modified their holdings of the company. Royce & Associates LP acquired a new stake in shares of VeriFone Systems during the fourth quarter worth about $11,154,000. UBS Asset Management Americas Inc. lifted its position in shares of VeriFone Systems by 16.0% during the fourth quarter. UBS Asset Management Americas Inc. now owns 85,354 shares of the business services provider’s stock worth $1,512,000 after purchasing an additional 11,799 shares in the last quarter. Bank of New York Mellon Corp lifted its position in shares of VeriFone Systems by 33.3% during the fourth quarter. Bank of New York Mellon Corp now owns 7,050,450 shares of the business services provider’s stock worth $124,863,000 after purchasing an additional 1,762,712 shares in the last quarter. Shell Asset Management Co. acquired a new stake in shares of VeriFone Systems during the fourth quarter worth about $8,370,000. Finally, Arizona State Retirement System lifted its position in shares of VeriFone Systems by 27.4% during the fourth quarter. Arizona State Retirement System now owns 80,762 shares of the business services provider’s stock worth $1,430,000 after purchasing an additional 17,386 shares in the last quarter.
Several brokerages have recently issued reports on PAY. Argus reissued a “hold” rating on shares of VeriFone Systems in a research report on Tuesday, December 26th. Tigress Financial reissued a “buy” rating on shares of VeriFone Systems in a research report on Tuesday, December 19th. Zacks Investment Research cut shares of VeriFone Systems from a “hold” rating to a “strong sell” rating in a research report on Monday, December 18th. Barclays reissued a “hold” rating and set a $21.00 price target on shares of VeriFone Systems in a research report on Friday, December 15th. Finally, Credit Suisse Group increased their price target on shares of VeriFone Systems from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 13th. Two research analysts have rated the stock with a sell rating, thirteen have given a hold rating and four have assigned a buy rating to the company’s stock. VeriFone Systems has an average rating of “Hold” and an average target price of $20.15.
Shares of VeriFone Systems Inc (NYSE:PAY) opened at $16.85 on Thursday. The firm has a market cap of $1,916.81, a P/E ratio of -10.87, a P/E/G ratio of 1.77 and a beta of 1.79. VeriFone Systems Inc has a 1-year low of $16.00 and a 1-year high of $21.48. The company has a quick ratio of 1.09, a current ratio of 1.33 and a debt-to-equity ratio of 0.97.
VeriFone Systems (NYSE:PAY) last issued its earnings results on Tuesday, December 12th. The business services provider reported $0.44 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.43 by $0.01. The firm had revenue of $477.00 million for the quarter, compared to analysts’ expectations of $472.33 million. VeriFone Systems had a negative net margin of 9.29% and a positive return on equity of 13.52%. The firm’s revenue was up 2.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.30 earnings per share. equities analysts forecast that VeriFone Systems Inc will post 1.2 EPS for the current year.
VeriFone Systems declared that its Board of Directors has approved a stock buyback plan on Tuesday, December 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Stock repurchase plans are usually a sign that the company’s leadership believes its stock is undervalued.
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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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