VeriFone Systems Inc. (NYSE:PAY) Director Robert W. Alspaugh sold 8,250 shares of VeriFone Systems stock in a transaction dated Thursday, September 29th. The shares were sold at an average price of $15.81, for a total value of $130,432.50. Following the completion of the transaction, the director now directly owns 17,250 shares in the company, valued at $272,722.50. The transaction was disclosed in a legal filing with the SEC, which is available through this link.
Shares of VeriFone Systems Inc. (NYSE:PAY) opened at 15.74 on Friday. The firm has a market capitalization of $1.75 billion, a price-to-earnings ratio of 52.47 and a beta of 1.80. VeriFone Systems Inc. has a 12 month low of $15.46 and a 12 month high of $31.24. The stock’s 50 day moving average price is $17.55 and its 200-day moving average price is $22.28.
VeriFone Systems (NYSE:PAY) last issued its quarterly earnings data on Thursday, September 1st. The company reported $0.42 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. VeriFone Systems had a return on equity of 19.50% and a net margin of 1.64%. The company earned $493 million during the quarter, compared to analysts’ expectations of $515.44 million. During the same quarter in the previous year, the company posted $0.47 earnings per share. The business’s revenue was down 3.3% on a year-over-year basis. On average, equities research analysts predict that VeriFone Systems Inc. will post $1.65 EPS for the current fiscal year.
PAY has been the topic of several analyst reports. Vetr upgraded VeriFone Systems from a “sell” rating to a “strong-buy” rating and set a $19.56 target price on the stock in a report on Monday, September 5th. Jefferies Group reiterated a “buy” rating and set a $40.00 target price on shares of VeriFone Systems in a report on Wednesday, June 8th. Piper Jaffray Cos. upgraded VeriFone Systems from a “neutral” rating to an “outperform” rating and set a $38.50 target price on the stock in a report on Thursday, August 25th. Wedbush reiterated an “outperform” rating and set a $30.00 target price on shares of VeriFone Systems in a report on Friday, June 17th. Finally, Credit Suisse Group AG reiterated a “hold” rating and set a $24.00 target price on shares of VeriFone Systems in a report on Tuesday, June 28th. Two analysts have rated the stock with a sell rating, fifteen have given a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. VeriFone Systems has a consensus rating of “Hold” and a consensus price target of $24.85.
Several large investors have recently modified their holdings of PAY. Wellington Management Group LLP boosted its stake in shares of VeriFone Systems by 34.8% in the first quarter. Wellington Management Group LLP now owns 3,151,833 shares of the company’s stock worth $89,008,000 after buying an additional 812,811 shares in the last quarter. Shell Asset Management Co. boosted its stake in shares of VeriFone Systems by 31.2% in the second quarter. Shell Asset Management Co. now owns 547,976 shares of the company’s stock valued at $10,159,000 after buying an additional 130,396 shares during the period. BlackRock Inc. boosted its stake in shares of VeriFone Systems by 19.5% in the first quarter. BlackRock Inc. now owns 48,822 shares of the company’s stock valued at $1,379,000 after buying an additional 7,951 shares during the period. Emerald Acquisition Ltd. bought a new stake in shares of VeriFone Systems during the second quarter valued at about $24,263,000. Finally, Oxford Asset Management bought a new stake in shares of VeriFone Systems during the second quarter valued at about $880,000. Institutional investors own 95.16% of the company’s stock.
About VeriFone Systems
VeriFone Systems, Inc is engaged in providing electronic payment solutions at the point of sale (POS). The Company designs, manufactures, markets and supplies a range of payment solutions and complementary services that enable secure electronic payment transactions and value-added services at the POS.
Receive News & Ratings for VeriFone Systems Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for VeriFone Systems Inc. and related companies with MarketBeat.com's FREE daily email newsletter.