VeriFone Systems Inc (PAY) : Firsthand Capital Management has sold out all of its stake in VeriFone Systems Inc during the most recent quarter, according to the disclosure filed by the company on Aug 15, 2016 with the SEC. The investment management company has sold out 30,000 shares of VeriFone Systems Inc which is valued at $560,400.
Other Hedge Funds, Including , Millennium Management reduced its stake in PAY by selling 503,520 shares or 54.56% in the most recent quarter. The Hedge Fund company now holds 419,419 shares of PAY which is valued at $7,834,747. VeriFone Systems Inc makes up approx 0.02% of Millennium Management’s portfolio.Blackrock Group Ltd boosted its stake in PAY in the latest quarter, The investment management firm added 7,199 additional shares and now holds a total of 113,345 shares of VeriFone Systems Inc which is valued at $2,117,285. Tradelink Capital sold out all of its stake in PAY during the most recent quarter. The investment firm sold 7,935 shares of PAY which is valued $152,907.Cwm reduced its stake in PAY by selling 3,811 shares or 2.77% in the most recent quarter. The Hedge Fund company now holds 133,862 shares of PAY which is valued at $2,550,071. VeriFone Systems Inc makes up approx 0.18% of Cwm’s portfolio.
VeriFone Systems Inc opened for trading at $19.76 and hit $20.33 on the upside on Thursday, eventually ending the session at $20.1, with a gain of 1.21% or 0.24 points. The heightened volatility saw the trading volume jump to 75,96,326 shares. Company has a market cap of $2,222 M.
On the company’s financial health, VeriFone Systems Inc reported $0.42 EPS for the quarter, beating the analyst consensus estimate by $ 0.02 according to the earnings call on Sep 1, 2016. Analyst had a consensus of $0.40. The company had revenue of $493.00 million for the quarter, compared to analysts expectations of $515.79 million. The company’s revenue was down -3.3 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $0.47 EPS.
Many Wall Street Analysts have commented on VeriFone Systems Inc. Shares were Reiterated by Deutsche Bank on Sep 2, 2016 to “Hold” and Lowered the Price Target to $ 15 from a previous price target of $19 .VeriFone Systems Inc was Downgraded by Piper Jaffray to ” Neutral” on Sep 2, 2016. Shares were Reiterated by RBC Capital Mkts on Sep 2, 2016 to “Sector Perform” and Lowered the Price Target to $ 23 from a previous price target of $28 .
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.