Notable Ownership Action: Is Pay88 (NYSE:PAY) Going to Burn These Institutional Investors?

November 30, 2016 - By Ellis Scott   ·   0 Comments

Notable Ownership Action: Is Pay88 (NYSE:PAY) Going to Burn These Institutional Investors?

Sentiment for Pay88 (NYSE:PAY)

Pay88 (NYSE:PAY) institutional sentiment increased to 1.24 in Q2 2016. Its up 0.17, from 1.07 in 2016Q1. The ratio has increased, as 143 institutional investors opened new or increased stock positions, while 134 sold and reduced their stock positions in Pay88. The institutional investors in our partner’s database now possess: 97.67 million shares, down from 104.70 million shares in 2016Q1. Also, the number of institutional investors holding Pay88 in their top 10 stock positions decreased from 5 to 0 for a decrease of 5. Sold All: 52 Reduced: 82 Increased: 101 New Position: 42.

VeriFone Systems, Inc. is engaged in providing electronic payment solutions at the point of sale . The company has a market cap of $1.86 billion. The Firm designs, makes, markets and supplies a range of payment solutions and complementary services that enable secure electronic payment transactions and value-added services at the POS. It has a 60.39 P/E ratio. The Company’s divisions include North America, Latin America, EMEA and Asia-Pacific.

The stock decreased 1.04% or $0.18 during the last trading session, hitting $17.15. VeriFone Systems Inc (NYSE:PAY) has declined 41.29% since April 27, 2016 and is downtrending. It has underperformed by 46.51% the S&P500.

Analysts await VeriFone Systems Inc (NYSE:PAY) to report earnings on December, 12 after the close. They expect $0.20 earnings per share, down 55.56% or $0.25 from last year’s $0.45 per share. PAY’s profit will be $21.69M for 21.44 P/E if the $0.20 EPS becomes a reality. After $0.33 actual earnings per share reported by VeriFone Systems Inc for the previous quarter, Wall Street now forecasts -39.39% negative EPS growth.

According to Zacks Investment Research, “VeriFone Systems, Inc. offers secure electronic payment solutions. The company provides solutions and services to the financial, retail, hospitality, petroleum, transportation, government and healthcare vertical markets. VeriFone Systems, Inc., formerly known as VeriFone Holdings, Inc., is headquartered in San Jose, California.”

Lapides Asset Management Llc holds 3.58% of its portfolio in VeriFone Systems Inc for 1.04 million shares. Guinness Atkinson Asset Management Inc owns 213,610 shares or 2.48% of their US portfolio. Moreover, Espalier Global Management Llc has 2.41% invested in the company for 117,865 shares. The Michigan-based Managed Asset Portfolios Llc has invested 1.71% in the stock. Sterneck Capital Management Llc, a Missouri-based fund reported 124,020 shares.#img1#

VeriFone Systems Inc (NYSE:PAY) Ratings Coverage

Ratings analysis reveals 43% of Verifone Systems Inc.’s analysts are positive. Out of 23 Wall Street analysts rating Verifone Systems Inc., 10 give it “Buy”, 0 “Sell” rating, while 13 recommend “Hold”. The lowest target is $15 while the high is $44. The stock’s average target of $27.58 is 60.82% above today’s ($17.15) share price. PAY was included in 47 notes of analysts from August 5, 2015. The firm earned “Neutral” rating on Tuesday, August 25 by Piper Jaffray. Pacific Crest maintained it with “Overweight” rating and $36 target price in Friday, March 11 report. The rating was maintained by Barclays Capital with “Equal-Weight” on Friday, September 2. The firm has “Buy” rating by SunTrust given on Wednesday, June 8. Credit Suisse maintained VeriFone Systems Inc (NYSE:PAY) rating on Monday, March 21. Credit Suisse has “Neutral” rating and $32 price target. The rating was downgraded by Imperial Capital to “In-Line” on Monday, September 12. On Wednesday, June 8 the stock rating was maintained by RBC Capital Markets with “Sector Perform”. On Friday, December 11 the stock rating was initiated by Credit Suisse with “Neutral”. The rating was initiated by Craig Hallum on Monday, October 17 with “Buy”. Piperjaffray downgraded the stock to “Neutral” rating in Friday, September 2 report.

PAY Company Profile

VeriFone Systems, Inc. (VeriFone), formerly VeriFone Holdings, Inc., incorporated on June 13, 2002, is a holding firm of VeriFone, Inc. The Firm is engaged in the secure electronic payment solutions. It provides solutions, and services for the financial services, retail, petroleum, restaurant, hospitality, taxi, transportation, and healthcare markets. The Company’s system solutions consist of point of sale (POS) electronic payment devices that run its and third-party operating systems, security and encryption software, and certified payment software, as well as other third-party value-added applications. The Company’s system solutions process a range of payment types. They include signature and personal identification number (PIN) debit cards, credit cards, contactless/radio frequency identification (RFID) cards and tokens, Near Field Communication (NFC), enabled mobile phones, smart cards, pre-paid gift and other stored-value cards, electronic bill payment, check authorization and conversion, signature capture, and electronic benefits transfer (EBT). The Company’s electronic payment systems are available in several modular configurations, offering its support to a range of connectivity options. It also offers clients technical support for installed payment systems, consulting services, and project management services for system deployment, and customization of integrated software solutions.

More news for VeriFone Systems Inc (NYSE:PAY) were recently published by: Streetinsider.com, which released: “VeriFone Systems (PAY), Worldpay Enter Extended Partnership” on November 28, 2016. Livetradingnews.com‘s article titled: “VeriFone Systems Inc (NYSE:PAY) Bulls in Favor” and published on November 28, 2016 is yet another important article.

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By Ellis Scott

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