Analyst Rating Update on Verifone Systems (PAY)

Verifone Systems (NYSE:PAY) : 8 brokerage houses believe that Verifone Systems (NYSE:PAY) is a Strong Buy at current levels. 1 Analyst considers the fundamentals to be worthy of a Buy recommendation. 8 analysts believe that the current prices are in a balance with the stocks fundamentals, hence they propose Hold on Verifone Systems (NYSE:PAY). Zacks Investment Research suggests a Strong Sell with a rank of 5.The median of all the 17 Wall Street Analysts endorse the stock as a Buy with a rating of 2.

Verifone Systems (NYSE:PAY) stock is expected to deviate a maximum of $6.41 from the average target price of $28.6 for the short term period. 15 Street Experts have initiated coverage on the stock with the most promising target being $42 and the most muted being $19.

For the current week, the company shares have a recommendation consensus of Buy. Also, Imperial Capital maintains its rating on Verifone Systems (NYSE:PAY). The global brokerage major lowers the current price target from $32 per share to $24 per share. Analysts at the Imperial Capital have a current rating of Outperform on the shares. The rating by the firm was issued on June 20, 2016.

Verifone Systems (NYSE:PAY): stock turned positive on Tuesday. Though the stock opened at $17.29, the bulls momentum made the stock top out at $17.59 level for the day. The stock recorded a low of $17.1 and closed the trading day at $17.33, in the green by 1.58%. The total traded volume for the day was 2,257,129. The stock had closed at $17.06 in the previous days trading.

In an insider trading activity, Bhanot Alok, officer (EVP, Engineering & CTO) of Verifone Systems, Inc., unloaded 994 shares at an average price of $28.74 on December 29, 2015. The total amount of the transaction was worth $28,568, according to the disclosed information with the Securities and Exchange Commission in a Form 4 filing.

VeriFone Systems, Inc. (VeriFone), formerly VeriFone Holdings, Inc. is a holding company of VeriFone, Inc. The Company is engaged in the secure electronic payment solutions. Its 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. Its system solutions process a range of payment types. The Companys electronic payment systems are available in several modular configurations, offering its support to a range of connectivity options. The Company also offers customers technical support for installed payment systems, consulting services, and project management services for system deployment, and customization of integrated software solutions. It provides solutions, and services for the financial services, retail, petroleum, restaurant, hospitality, taxi, transportation, and healthcare markets.

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