Arizona State Retirement System boosted its holdings in shares of VeriFone Holdings, Inc. (NYSE:PAY) by 27.4% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 80,762 shares of the business services provider’s stock after acquiring an additional 17,386 shares during the quarter. Arizona State Retirement System owned 0.07% of VeriFone worth $1,430,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also bought and sold shares of PAY. SG Capital Management LLC lifted its holdings in shares of VeriFone by 981.6% in the 4th quarter. SG Capital Management LLC now owns 619,407 shares of the business services provider’s stock worth $10,970,000 after buying an additional 562,140 shares during the period. Neuberger Berman Group LLC lifted its holdings in shares of VeriFone by 22.0% in the 3rd 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. Bank of New York Mellon Corp lifted its holdings in shares of VeriFone by 5.2% in the 3rd quarter. Bank of New York Mellon Corp now owns 5,287,738 shares of the business services provider’s stock worth $107,236,000 after buying an additional 261,117 shares during the period. Barrow Hanley Mewhinney & Strauss LLC lifted its holdings in shares of VeriFone by 27,645.1% in the 3rd quarter. Barrow Hanley Mewhinney & Strauss LLC now owns 241,105 shares of the business services provider’s stock worth $4,890,000 after buying an additional 240,236 shares during the period. Finally, Boston Partners purchased a new stake in shares of VeriFone in the 4th quarter worth $2,789,000.
NYSE:PAY traded down $0.56 during mid-day trading on Friday, hitting $15.17. 1,319,743 shares of the company’s stock traded hands, compared to its average volume of 1,787,298. VeriFone Holdings, Inc. has a twelve month low of $14.93 and a twelve month high of $21.48. The firm has a market capitalization of $1,735.83, a P/E ratio of 15.97, a P/E/G ratio of 1.58 and a beta of 1.76. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.35 and a quick ratio of 1.10.
VeriFone (NYSE:PAY) last posted its quarterly earnings results on Thursday, March 8th. The business services provider reported $0.23 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.25 by ($0.02). The firm had revenue of $425.00 million for the quarter, compared to analysts’ expectations of $419.43 million. VeriFone had a negative net margin of 8.09% and a positive return on equity of 14.11%. The firm’s revenue for the quarter was up .0% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.21 EPS. analysts expect that VeriFone Holdings, Inc. will post 1.21 EPS for the current year.
VeriFone announced that its board has authorized a stock buyback plan on Tuesday, December 12th that permits the company to buyback $100.00 million in outstanding shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s board believes its shares are undervalued.
Several equities research analysts have weighed in on the company. Zacks Investment Research cut VeriFone from a “buy” rating to a “hold” rating in a report on Wednesday. ValuEngine lowered VeriFone from a “buy” rating to a “hold” rating in a research report on Monday, April 2nd. Credit Suisse Group boosted their price target on VeriFone from $20.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, December 13th. BTIG Research reissued a “hold” rating on shares of VeriFone in a research report on Sunday, March 11th. Finally, Barclays reissued a “hold” rating and issued a $21.00 price target on shares of VeriFone in a research report on Friday, December 15th. One research analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $20.45.
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VeriFone 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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