Jefferies Group lowered shares of VeriFone (NYSE:PAY) from a buy rating to a hold rating in a report released on Monday, MarketBeat Ratings reports. They currently have $23.00 price objective on the business services provider’s stock.
Other analysts have also recently issued reports about the stock. Tigress Financial restated a buy rating on shares of VeriFone in a research note on Tuesday, December 19th. Zacks Investment Research upgraded shares of VeriFone from a hold rating to a buy rating and set a $17.00 price objective for the company in a research note on Monday, April 2nd. Craig Hallum cut shares of VeriFone from a buy rating to a hold rating in a research note on Tuesday, April 10th. SunTrust Banks cut shares of VeriFone from a buy rating to a hold rating in a research note on Tuesday, April 10th. Finally, Piper Jaffray restated a hold rating and issued a $23.04 price objective on shares of VeriFone in a research note on Tuesday, April 10th. One equities research analyst has rated the stock with a sell rating, eighteen have assigned a hold rating and three have given a buy rating to the company. VeriFone has a consensus rating of Hold and an average price target of $20.92.
Shares of VeriFone stock opened at $22.76 on Monday. The company has a quick ratio of 1.10, a current ratio of 1.35 and a debt-to-equity ratio of 0.93. VeriFone has a 1-year low of $14.90 and a 1-year high of $22.87. The firm has a market capitalization of $2,512.70, a PE ratio of 23.96, a PEG ratio of 1.25 and a beta of 1.76.
VeriFone (NYSE:PAY) last issued its quarterly earnings data on Thursday, March 8th. The business services provider reported $0.23 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). VeriFone had a positive return on equity of 14.11% and a negative net margin of 8.09%. The firm had revenue of $425.00 million during the quarter, compared to analyst estimates of $419.43 million. During the same quarter in the previous year, the firm posted $0.21 earnings per share. VeriFone’s quarterly revenue was up .0% compared to the same quarter last year. analysts anticipate that VeriFone will post 1.22 EPS for the current year.
A number of large investors have recently added to or reduced their stakes in PAY. Legal & General Group Plc raised its stake in VeriFone by 27.2% during the 3rd quarter. Legal & General Group Plc now owns 143,933 shares of the business services provider’s stock valued at $2,917,000 after purchasing an additional 30,764 shares during the last quarter. Wells Fargo & Company MN raised its stake in shares of VeriFone by 7.4% in the 3rd quarter. Wells Fargo & Company MN now owns 1,030,840 shares of the business services provider’s stock valued at $20,906,000 after buying an additional 70,684 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of VeriFone by 6.2% in the 3rd quarter. Schwab Charles Investment Management Inc. now owns 736,403 shares of the business services provider’s stock valued at $14,935,000 after buying an additional 43,011 shares in the last quarter. Highbridge Capital Management LLC acquired a new position in shares of VeriFone in the 3rd quarter valued at $300,000. Finally, Point72 Asset Management L.P. acquired a new position in shares of VeriFone in the 3rd quarter valued at $518,000.
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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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