November 30, 2016 - By Ruchi Gupta · 0 Comments
Verifone Inc (NYSE:PAY) institutional sentiment increased to 1.24 in Q2 2016. Its up 0.17, from 1.07 in 2016Q1. The ratio has improved, as 143 funds increased or started new equity positions, while 134 reduced and sold stock positions in Verifone Inc. The funds in our partner’s database now possess: 97.67 million shares, down from 104.70 million shares in 2016Q1. Also, the number of funds holding Verifone Inc in their top 10 equity 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#
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 stock of VeriFone Systems Inc (NYSE:PAY) has “Buy” rating given on Wednesday, June 8 by SunTrust. The rating was maintained by Goldman Sachs on Wednesday, June 8 with “Neutral”. RBC Capital Markets maintained the stock with “Sector Perform” rating in Wednesday, June 8 report. Credit Suisse maintained the shares of PAY in a report on Monday, March 21 with “Neutral” rating. The firm earned “Sector Perform” rating on Friday, September 2 by RBC Capital Markets. JP Morgan maintained VeriFone Systems Inc (NYSE:PAY) on Friday, August 14 with “Overweight” rating. Deutsche Bank maintained VeriFone Systems Inc (NYSE:PAY) rating on Friday, September 2. Deutsche Bank has “Hold” rating and $15 price target. Susquehanna maintained VeriFone Systems Inc (NYSE:PAY) on Friday, September 4 with “Positive” rating. The stock has “Neutral” rating given by Piperjaffray on Friday, September 2. Barclays Capital maintained the shares of PAY in a report on Friday, September 2 with “Equal-Weight” rating.
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 Companyâ€™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 Ruchi Gupta