VeriFone Systems Inc (PAY) Receives $19.77 Consensus Target Price from Analysts
VeriFone Systems Inc (NYSE:PAY) has earned a consensus recommendation of “Hold” from the nineteen research firms that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell recommendation, thirteen have given a hold recommendation and four have given a buy recommendation to the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $19.91.
Several equities analysts have issued reports on the company. Argus reaffirmed a “hold” rating on shares of VeriFone Systems in a report on Tuesday, December 26th. Tigress Financial reissued a “buy” rating on shares of VeriFone Systems in a report on Tuesday, December 19th. Zacks Investment Research lowered VeriFone Systems from a “hold” rating to a “strong sell” rating in a report on Monday, December 18th. Barclays reissued a “hold” rating and set a $21.00 price target on shares of VeriFone Systems in a report on Friday, December 15th. Finally, Credit Suisse Group raised their price target on VeriFone Systems from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, December 13th.
Shares of VeriFone Systems (NYSE PAY) traded down $0.33 during mid-day trading on Tuesday, hitting $17.08. The company’s stock had a trading volume of 2,200,000 shares, compared to its average volume of 1,180,000. The stock has a market capitalization of $1,920.00, a price-to-earnings ratio of -11.02, a price-to-earnings-growth ratio of 1.74 and a beta of 1.79. VeriFone Systems has a 12 month low of $16.00 and a 12 month high of $21.48. The company has a debt-to-equity ratio of 0.97, a quick ratio of 1.09 and a current ratio of 1.33.
VeriFone Systems declared that its board has initiated a share buyback program on Tuesday, December 12th that authorizes the company to buyback $100.00 million in outstanding shares. This buyback authorization authorizes the business services provider to buy shares of its stock through open market purchases. Shares buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.
A number of large investors have recently made changes to their positions in PAY. Teachers Advisors LLC lifted its position in VeriFone Systems by 95.7% in the second quarter. Teachers Advisors LLC now owns 201,005 shares of the business services provider’s stock valued at $3,638,000 after purchasing an additional 98,311 shares during the period. ProShare Advisors LLC lifted its position in VeriFone Systems by 80.0% in the second quarter. ProShare Advisors LLC now owns 18,230 shares of the business services provider’s stock valued at $330,000 after purchasing an additional 8,105 shares during the period. Thrivent Financial For Lutherans lifted its position in VeriFone Systems by 8.4% in the second quarter. Thrivent Financial For Lutherans now owns 22,700 shares of the business services provider’s stock valued at $411,000 after purchasing an additional 1,750 shares during the period. Northern Trust Corp lifted its position in VeriFone Systems by 81.9% in the second quarter. Northern Trust Corp now owns 1,710,176 shares of the business services provider’s stock valued at $30,954,000 after purchasing an additional 769,788 shares during the period. Finally, Vanguard Group Inc. lifted its position in VeriFone Systems by 4.2% in the second quarter. Vanguard Group Inc. now owns 9,365,370 shares of the business services provider’s stock valued at $169,513,000 after purchasing an additional 376,008 shares during the period.
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.
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