VeriFone Holdings, Inc. (NYSE:PAY) has earned an average recommendation of “Hold” from the seventeen brokerages that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell recommendation, twelve have given a hold recommendation and four have given a buy recommendation to the company. The average 1 year price objective among brokerages that have issued ratings on the stock in the last year is $20.67.
PAY has been the subject of a number of research reports. Tigress Financial reaffirmed a “buy” rating on shares of VeriFone in a research note on Tuesday, December 19th. Credit Suisse Group lifted their price objective on VeriFone from $20.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, December 13th. Argus reaffirmed a “hold” rating on shares of VeriFone in a research note on Tuesday, December 26th. Zacks Investment Research cut VeriFone from a “hold” rating to a “strong sell” rating in a research note on Monday, December 18th. Finally, Barclays reaffirmed a “hold” rating and issued a $21.00 price objective on shares of VeriFone in a research note on Friday, December 15th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Xact Kapitalforvaltning AB acquired a new position in VeriFone during the 4th quarter worth $216,000. MetLife Investment Advisors LLC acquired a new position in VeriFone during the 4th quarter worth $2,183,000. Belpointe Asset Management LLC acquired a new position in VeriFone during the 4th quarter worth $237,000. Crestline Management LP acquired a new position in VeriFone during the 4th quarter worth $252,000. Finally, Millennium Management LLC grew its stake in VeriFone by 85.1% during the 4th quarter. Millennium Management LLC now owns 3,034,660 shares of the business services provider’s stock worth $53,744,000 after purchasing an additional 1,395,432 shares in the last quarter.
VeriFone (NYSE:PAY) last posted its earnings results on Thursday, March 8th. The business services provider reported $0.23 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.25 by ($0.02). The business had revenue of $425.00 million for the quarter, compared to analyst estimates of $419.43 million. VeriFone had a positive return on equity of 14.11% and a negative net margin of 8.09%. VeriFone’s revenue was up .0% compared to the same quarter last year. During the same period last year, the business earned $0.21 EPS. sell-side analysts anticipate that VeriFone will post 1.21 EPS for the current year.
VeriFone declared that its board has approved a stock buyback program on Tuesday, December 12th that authorizes the company to buyback $100.00 million in shares. This buyback authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares buyback programs are generally a sign that the company’s board of directors believes its stock is undervalued.
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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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