Principal Financial Group Inc. raised its stake in VeriFone Systems Inc (NYSE:PAY) by 1.0% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 478,791 shares of the business services provider’s stock after acquiring an additional 4,940 shares during the period. Principal Financial Group Inc.’s holdings in VeriFone Systems were worth $7,364,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. BKS Advisors LLC acquired a new position in VeriFone Systems in the 1st quarter valued at $163,000. Signition LP bought a new position in shares of VeriFone Systems in the 1st quarter valued at $178,000. Wellington Shields Capital Management LLC bought a new position in shares of VeriFone Systems in the 1st quarter valued at $220,000. Point72 Asia Hong Kong Ltd bought a new position in shares of VeriFone Systems in the 1st quarter valued at $231,000. Finally, Xact Kapitalforvaltning AB increased its stake in shares of VeriFone Systems by 27.9% in the 1st quarter. Xact Kapitalforvaltning AB now owns 15,583 shares of the business services provider’s stock valued at $240,000 after purchasing an additional 3,400 shares during the last quarter. 91.15% of the stock is owned by hedge funds and other institutional investors.

Shares of PAY opened at $23.03 on Friday. VeriFone Systems Inc has a 52-week low of $14.90 and a 52-week high of $23.14. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.22 and a current ratio of 1.46. The firm has a market capitalization of $2.55 billion, a PE ratio of 24.24, a price-to-earnings-growth ratio of 1.27 and a beta of 1.45.

VeriFone Systems (NYSE:PAY) last issued its quarterly earnings results on Friday, June 8th. The business services provider reported $0.17 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.22 by ($0.05). VeriFone Systems had a negative net margin of 4.27% and a positive return on equity of 13.72%. The business had revenue of $438.40 million during the quarter, compared to the consensus estimate of $435.46 million. equities research analysts expect that VeriFone Systems Inc will post 1.21 earnings per share for the current year.

VeriFone Systems Profile

VeriFone Systems, Inc provides payments and commerce solutions at the point of sale (POS) worldwide. It offers countertop solutions that accept payment options, including contactless, NFC, mobile wallets, and EMV; PIN pads that support credit and debit card, EBT, EMV, and other PIN-based transactions; and multilane consumer facing commerce devices.

Further Reading: Momentum Indicator: Relative Strength Index

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Institutional Ownership by Quarter for VeriFone Systems (NYSE:PAY)

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