Analysis: Verifone Systems Inc (NYSE:PAY) Stock Target Increased Today
In a recent research report made public by Barclays Capital on 7 December, the firm, Verifone Systems Inc (NYSE:PAY), had their target price per share cut to $37.00. Analusts right now have a solid “Overweight” rating on the stock.
From a total of 16 analysts covering Verifone Systems Inc. (NYSE:PAY) stock, 17 rate it a ”Buy”, 0 a “Sell”, and 3 a ”Hold”. This means that 85% of the ratings are positive. The highest target price is $44 while the lowest target price is $29. The mean of all analyst targets is $39.63 with a 47.63% above today’s ($27.25) stock price. Verifone Systems Inc. was the topic of 14 analyst reports since August 5, 2015 according to the firm StockzIntelligence Inc. Piper Jaffray initiated shares on November 25 with “Overweight” rating. Wedbush maintained shares with “Outperform” rating and $40 target share price in a report from a September 4. Argus Research upgraded PAY stock in a recent report from September 30 to “Buy” rating. Susquehanna maintained the rating on September 4. Susquehanna has a “Positive” rating and a $42 price target on shares. Finally, Pacific Crest maintained the stock with “Outperform” rating in a report issued on a September 5.
Approximately 419,357 shares of stock traded hands. VeriFone Systems Inc (NYSE:PAY) has declined 22.45% since May 4, 2015 and is downtrending. It has underperformed by 21.38% the S&P500.
Analysts await VeriFone Systems Inc (NYSE:PAY) to reports earnings on December, 21. They expect $0.40 EPS, up 11.11% or $0.04 from last year’s $0.36 per share. PAY’s profit will be $47.56M for 17.03 P/E if the $0.40 EPS becomes reality. After $0.38 actual EPS reported by VeriFone Systems Inc for the previous quarter, Wall Street now forecasts 5.26% EPS growth.
The overall sentiment of institutions has decreased to 1.19 in Q2 2015. Its down 0.19, from 1.38 in 2015Q2. The ratio worsened, as 49 institutions have sold all the shares of VeriFone Systems Inc that they owned while 85 funds have taken shares off the table. 43 funds have purchased shares for the first time while 117 added to their positions. These institutions now hold 102.27 million shares or 8.17% less than the 111.37 million shares they owned in 2015Q2.
The Fund Lapides Asset Management Llc currently is holding shares equating to 3.49% of its total portfolio in VeriFone Systems Inc representing a total of 731,900 shares. Another fund,Guinness Atkinson Asset Management Inc, is holding a total of 194,000 shares equating to 3.43% of their holdings. Additionally, Managed Asset Portfolios Llc has a 141,525 share stake in VeriFone Systems Inc which represents 2.02% of their total portfolio. The Fund, Netols Asset Management Inc., based out of Wisconsin, has also built up a stake in the stock, which represents a total of 1.86% of their total portfolio. Finally Tamro Capital Partners Llc, a fund which is based in the state of Virginia reported a total holdings of 581,855 shares.
VeriFone Systems, Inc. , formerly VeriFone Holdings, Inc. is a holding firm of VeriFone, Inc. The company has a market cap of $3.24 billion. The Firm is engaged in the secure electronic payment solutions. It has 43.4 P/E ratio. 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.
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.” Get a free copy of the Zacks research report on VeriFone Systems Inc (PAY).