Private Harbour Investment Management Counsel Lowers stake in VeriFone Systems Inc (PAY)

VeriFone Systems Inc (PAY) : Private Harbour Investment Management Counsel reduced its stake in VeriFone Systems Inc by 2.13% during the most recent quarter end. The investment management company now holds a total of 66,530 shares of VeriFone Systems Inc which is valued at $1,282,033 after selling 1,445 shares in VeriFone Systems Inc , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.VeriFone Systems Inc makes up approximately 1.03% of Private Harbour Investment Management Counsel’s portfolio.

Other Hedge Funds, Including , Hanson Doremus Investment Management boosted its stake in PAY in the latest quarter, The investment management firm added 21,325 additional shares and now holds a total of 86,240 shares of VeriFone Systems Inc which is valued at $1,652,358. VeriFone Systems Inc makes up approx 0.72% of Hanson Doremus Investment Management’s portfolio. Clarivest Asset Management sold out all of its stake in PAY during the most recent quarter. The investment firm sold 44 shares of PAY which is valued $843.Weaver C. Barksdale Associates boosted its stake in PAY in the latest quarter, The investment management firm added 158 additional shares and now holds a total of 437 shares of VeriFone Systems Inc which is valued at $8,181. VeriFone Systems Inc makes up approx 0.01% of Weaver C. Barksdale Associates’s portfolio.Gw&k Investment Management boosted its stake in PAY in the latest quarter, The investment management firm added 54,663 additional shares and now holds a total of 397,608 shares of VeriFone Systems Inc which is valued at $7,443,222. VeriFone Systems Inc makes up approx 0.15% of Gw&k Investment Management’s portfolio.

VeriFone Systems Inc opened for trading at $19.21 and hit $19.48 on the upside on Thursday, eventually ending the session at $19.3, with a gain of 0.16% or 0.03 points. The heightened volatility saw the trading volume jump to 18,79,805 shares. Company has a market cap of $2,134 M.

On the company’s financial health, VeriFone Systems Inc reported $0.47 EPS for the quarter, missing the analyst consensus estimate by $ -0.05 based on the information available during the earnings call on Jun 7, 2016. Analyst had a consensus of $0.52. The company had revenue of $532.00 million for the quarter, compared to analysts expectations of $530.07 million. The company’s revenue was up 8.6% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.44 EPS.

Many Wall Street Analysts have commented on VeriFone Systems Inc. Shares were Reiterated by Imperial Capital on Jun 20, 2016 to “Outperform” and Lowered the Price Target to $ 24 from a previous price target of $32 .VeriFone Systems Inc was Upgraded by Standpoint Research to ” Buy” on Jun 9, 2016. Shares were Downgraded by Compass Point on Jun 8, 2016 to ” Neutral” and Lowered the Price Target to $ 23 from a previous price target of $34 .

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 Company’s 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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