Renaissance Technologies LLC Acquires New Stake in VeriFone Systems Inc (PAY)

Renaissance Technologies LLC purchased a new position in shares of VeriFone Systems Inc (NYSE:PAY) during the fourth quarter, Holdings Channel reports. The firm purchased 624,319 shares of the company’s stock, valued at approximately $11,069,000.

Several other institutional investors have also recently added to or reduced their stakes in the stock. River Road Asset Management LLC raised its position in VeriFone Systems by 122.9% in the third quarter. River Road Asset Management LLC now owns 2,197,451 shares of the company’s stock worth $34,588,000 after buying an additional 1,211,501 shares in the last quarter. Russell Investments Group Ltd. purchased a new position in VeriFone Systems during the fourth quarter worth approximately $18,842,000. Los Angeles Capital Management & Equity Research Inc. raised its position in VeriFone Systems by 426.0% in the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 336,061 shares of the company’s stock worth $5,290,000 after buying an additional 272,171 shares in the last quarter. BlackRock Fund Advisors raised its position in VeriFone Systems by 4.2% in the third quarter. BlackRock Fund Advisors now owns 3,973,765 shares of the company’s stock worth $62,547,000 after buying an additional 161,120 shares in the last quarter. Finally, CIBC World Markets Inc. purchased a new position in VeriFone Systems during the third quarter worth approximately $2,602,000. 91.81% of the stock is currently owned by institutional investors.

Institutional Ownership by Quarter for VeriFone Systems (NYSE:PAY)

Shares of VeriFone Systems Inc (NYSE:PAY) opened at 19.07 on Tuesday. The firm’s 50-day moving average is $19.45 and its 200-day moving average is $17.56. VeriFone Systems Inc has a 1-year low of $14.94 and a 1-year high of $29.73. The firm’s market cap is $2.13 billion.

VeriFone Systems (NYSE:PAY) last released its quarterly earnings data on Thursday, March 9th. The company reported $0.21 EPS for the quarter, beating the consensus estimate of $0.20 by $0.01. The company earned $457 million during the quarter, compared to the consensus estimate of $449.37 million. VeriFone Systems had a positive return on equity of 16.78% and a negative net margin of 0.46%. The firm’s revenue for the quarter was down 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.48 EPS. On average, analysts anticipate that VeriFone Systems Inc will post $1.37 EPS for the current fiscal year.

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A number of equities analysts recently issued reports on PAY shares. Vetr lowered shares of VeriFone Systems from a “strong-buy” rating to a “buy” rating and set a $17.50 target price on the stock. in a research report on Monday, December 5th. Imperial Capital reaffirmed an “in-line” rating and set a $18.00 target price on shares of VeriFone Systems in a research report on Tuesday, December 20th. Zacks Investment Research lowered shares of VeriFone Systems from a “hold” rating to a “sell” rating in a research report on Thursday, March 2nd. BMO Capital Markets started coverage on shares of VeriFone Systems in a research report on Thursday, January 5th. They set a “market perform” rating and a $19.00 target price on the stock. Finally, Morgan Stanley reaffirmed an “equal weight” rating and set a $18.00 target price (up previously from $16.00) on shares of VeriFone Systems in a research report on Saturday, March 11th. Two investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $22.15.

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.

5 Day Chart for NYSE:PAY

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