Community Financial Services Group Lowers stake in VeriFone Systems Inc (PAY)

VeriFone Systems Inc (PAY) : Community Financial Services Group reduced its stake in VeriFone Systems Inc by 0.72% during the most recent quarter end. The investment management company now holds a total of 114,230 shares of VeriFone Systems Inc which is valued at $2,201,212 after selling 827 shares in VeriFone Systems Inc , the firm said in a disclosure report filed with the SEC on Aug 2, 2016.VeriFone Systems Inc makes up approximately 1.05% of Community Financial Services Group’s portfolio.

Other Hedge Funds, Including , Quantbot Technologies Lp boosted its stake in PAY in the latest quarter, The investment management firm added 4,685 additional shares and now holds a total of 25,797 shares of VeriFone Systems Inc which is valued at $497,108. VeriFone Systems Inc makes up approx 0.05% of Quantbot Technologies Lp’s portfolio. Anchor Capital Advisors sold out all of its stake in PAY during the most recent quarter. The investment firm sold 753,161 shares of PAY which is valued $14,513,412. Pitcairn Co sold out all of its stake in PAY during the most recent quarter. The investment firm sold 24,776 shares of PAY which is valued $482,884. Huntington National Bank added PAY to its portfolio by purchasing 300 company shares during the most recent quarter which is valued at $5,847. Simplex Trading added PAY to its portfolio by purchasing 8,168 company shares during the most recent quarter which is valued at $155,519. VeriFone Systems Inc makes up approx 0.02% of Simplex Trading’s portfolio.

VeriFone Systems Inc closed down -0.12 points or -0.61% at $19.4 with 16,29,430 shares getting traded on Monday. Post opening the session at $19.58, the shares hit an intraday low of $19.38 and an intraday high of $19.72 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

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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