157,462 Shares in VeriFone Systems Inc (PAY) Purchased by Boston Partners
Boston Partners purchased a new stake in VeriFone Systems Inc (NYSE:PAY) in the fourth quarter, HoldingsChannel reports. The firm purchased 157,462 shares of the business services provider’s stock, valued at approximately $2,789,000.
Other hedge funds also recently made changes to their positions in the company. State Street Corp increased its stake in VeriFone Systems by 27.8% during the 2nd quarter. State Street Corp now owns 3,612,321 shares of the business services provider’s stock worth $65,386,000 after purchasing an additional 786,774 shares in the last quarter. Northern Trust Corp increased its stake in VeriFone Systems by 81.9% during the 2nd quarter. Northern Trust Corp now owns 1,710,176 shares of the business services provider’s stock worth $30,954,000 after purchasing an additional 769,788 shares in the last quarter. Mesirow Financial Investment Management Equity Management bought a new stake in VeriFone Systems during the 3rd quarter worth approximately $14,470,000. SG Capital Management LLC increased its stake in VeriFone Systems by 981.6% during the 4th quarter. SG Capital Management LLC now owns 619,407 shares of the business services provider’s stock worth $10,970,000 after purchasing an additional 562,140 shares in the last quarter. Finally, Fisher Asset Management LLC increased its stake in VeriFone Systems by 11.4% during the 3rd quarter. Fisher Asset Management LLC now owns 4,110,364 shares of the business services provider’s stock worth $83,358,000 after purchasing an additional 421,203 shares in the last quarter.
A number of analysts recently issued reports on the company. Credit Suisse Group increased their target price on VeriFone Systems from $20.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, December 13th. Zacks Investment Research cut VeriFone Systems from a “hold” rating to a “strong sell” rating in a research note on Monday, December 18th. Barclays reissued a “hold” rating and set a $21.00 target price on shares of VeriFone Systems in a research note on Friday, December 15th. Tigress Financial reissued a “buy” rating on shares of VeriFone Systems in a research note on Tuesday, December 19th. Finally, Argus reissued a “hold” rating on shares of VeriFone Systems in a research note on Tuesday, December 26th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating and four have assigned a buy rating to the company’s stock. VeriFone Systems presently has a consensus rating of “Hold” and an average target price of $20.15.
VeriFone Systems (NYSE:PAY) last issued its quarterly earnings results on Tuesday, December 12th. The business services provider reported $0.44 earnings per share for the quarter, topping the consensus estimate of $0.43 by $0.01. The company had revenue of $477.00 million during 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 business’s quarterly revenue was up 2.8% on a year-over-year basis. During the same period last year, the business earned $0.30 EPS. equities research analysts predict that VeriFone Systems Inc will post 1.2 earnings per share for the current fiscal year.
VeriFone Systems announced that its board has approved a stock repurchase plan on Tuesday, December 12th that authorizes the company to repurchase $100.00 million in shares. This repurchase authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares repurchase plans are generally an indication that the company’s management believes its stock is undervalued.
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VeriFone Systems 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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