BidaskClub upgraded shares of Verifone Systems, Inc. (NYSE:PAY) from a sell rating to a hold rating in a research note released on Wednesday morning.

Other equities research analysts have also recently issued reports about the stock. Zacks Investment Research cut shares of Verifone Systems from a hold rating to a sell rating in a research report on Monday, August 14th. BMO Capital Markets cut their price objective on shares of Verifone Systems from $21.00 to $20.00 and set a market perform rating for the company in a research report on Friday, June 16th. Imperial Capital cut their price objective on shares of Verifone Systems from $20.00 to $19.00 and set an in-line rating for the company in a research report on Tuesday, June 13th. Royal Bank Of Canada cut their price objective on shares of Verifone Systems from $23.00 to $20.00 and set a sector perform rating for the company in a research report on Friday, June 9th. Finally, BTIG Research restated a neutral rating on shares of Verifone Systems in a research report on Monday, June 12th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and two have issued a buy rating to the company. The company currently has an average rating of Hold and a consensus target price of $18.73.

Shares of Verifone Systems (PAY) opened at 19.22 on Wednesday. The firm’s 50-day moving average is $19.21 and its 200 day moving average is $18.73. Verifone Systems has a 52-week low of $14.94 and a 52-week high of $20.98. The stock’s market capitalization is $2.15 billion.

Verifone Systems (NYSE:PAY) last issued its earnings results on Thursday, June 8th. The business services provider reported $0.30 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.30. The business had revenue of $474 million during the quarter, compared to analysts’ expectations of $472.80 million. Verifone Systems had a negative net margin of 7.53% and a positive return on equity of 11.55%. The company’s quarterly revenue was down 9.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.47 earnings per share. Equities analysts expect that Verifone Systems will post $1.33 EPS for the current year.

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A number of hedge funds and other institutional investors have recently modified their holdings of PAY. State Treasurer State of Michigan increased its position in shares of Verifone Systems by 1.3% in the first quarter. State Treasurer State of Michigan now owns 45,300 shares of the business services provider’s stock worth $848,000 after buying an additional 600 shares in the last quarter. Great West Life Assurance Co. Can increased its position in shares of Verifone Systems by 3.8% in the first quarter. Great West Life Assurance Co. Can now owns 66,324 shares of the business services provider’s stock worth $1,242,000 after buying an additional 2,412 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in shares of Verifone Systems by 1.3% in the first quarter. Oregon Public Employees Retirement Fund now owns 39,085 shares of the business services provider’s stock worth $732,000 after buying an additional 500 shares in the last quarter. Whittier Trust Co. increased its position in shares of Verifone Systems by 5.3% in the first quarter. Whittier Trust Co. now owns 101,478 shares of the business services provider’s stock worth $1,900,000 after buying an additional 5,079 shares in the last quarter. Finally, Shell Asset Management Co. increased its position in shares of Verifone Systems by 2.5% in the first quarter. Shell Asset Management Co. now owns 475,294 shares of the business services provider’s stock worth $8,902,000 after buying an additional 11,396 shares in the last quarter.

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.

Analyst Recommendations for Verifone Systems (NYSE:PAY)

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