Millennium Management LLC lifted its position in shares of VeriFone Systems Inc (NYSE:PAY) by 85.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 3,034,660 shares of the business services provider’s stock after purchasing an additional 1,395,432 shares during the quarter. Millennium Management LLC’s holdings in VeriFone Systems were worth $53,744,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of PAY. Bank of New York Mellon Corp boosted its position in shares of VeriFone Systems by 33.3% during the fourth quarter. Bank of New York Mellon Corp now owns 7,050,450 shares of the business services provider’s stock worth $124,863,000 after buying an additional 1,762,712 shares during the period. Royce & Associates LP acquired a new position in shares of VeriFone Systems during the fourth quarter worth about $11,154,000. SG Capital Management LLC boosted its position in shares of VeriFone Systems by 981.6% during the fourth quarter. SG Capital Management LLC now owns 619,407 shares of the business services provider’s stock worth $10,970,000 after buying an additional 562,140 shares during the period. Pzena Investment Management LLC boosted its position in shares of VeriFone Systems by 19.2% during the fourth quarter. Pzena Investment Management LLC now owns 2,942,690 shares of the business services provider’s stock worth $52,115,000 after buying an additional 473,224 shares during the period. Finally, Shell Asset Management Co. acquired a new position in VeriFone Systems during the fourth quarter valued at approximately $8,370,000.
Several research analysts recently commented on PAY shares. Tigress Financial reissued a “buy” rating on shares of VeriFone Systems in a research report on Tuesday, December 19th. Argus reissued a “hold” rating on shares of VeriFone Systems in a research report on Tuesday, December 26th. Zacks Investment Research raised VeriFone Systems from a “sell” rating to a “hold” rating and set a $20.00 price target for the company in a research report on Wednesday, March 14th. Barclays reissued a “hold” rating and set a $21.00 price target on shares of VeriFone Systems in a research report on Friday, December 15th. Finally, Credit Suisse Group increased their price target on VeriFone Systems from $20.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, December 13th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and four have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $20.73.
Shares of VeriFone Systems Inc (NYSE:PAY) opened at $17.21 on Tuesday. VeriFone Systems Inc has a 52-week low of $16.00 and a 52-week high of $21.48. The stock has a market capitalization of $1,966.46, a P/E ratio of -12.84, a PEG ratio of 1.79 and a beta of 1.78. The company has a debt-to-equity ratio of 0.93, a current ratio of 1.35 and a quick ratio of 1.10.
VeriFone Systems (NYSE:PAY) last released its quarterly earnings data on Thursday, March 8th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.25 by ($0.02). VeriFone Systems had a negative net margin of 8.09% and a positive return on equity of 14.11%. The business had revenue of $425.00 million during the quarter, compared to analyst estimates of $419.43 million. During the same period in the previous year, the business earned $0.21 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis. sell-side analysts anticipate that VeriFone Systems Inc will post 1.21 EPS for the current year.
VeriFone Systems announced that its board has initiated a share buyback plan on Tuesday, December 12th that allows the company to repurchase $100.00 million in shares. This repurchase authorization allows the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually an indication that the company’s leadership believes its stock is undervalued.
About VeriFone Systems
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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