Imperial Capital Downgrades VeriFone Systems Inc to In-line with Price Target $18.00

Brokerage firm Imperial Capital Downgrades its rating on VeriFone Systems Inc(NYSE:PAY). In a research note issued to the investors, the brokerage major Lowers the price-target to $18.00 per share. The shares have been rated In-line. Previously, the analysts had a Outperform rating on the shares. The rating by Imperial Capital was issued on Sep 12, 2016.

In a different note, BTIG Research said it Initiates Coverage on VeriFone Systems Inc, according to a research note issued on Sep 9, 2016. The shares have been rated ‘Buy’ by the firm. On Sep 6, 2016, Argus Research said it Downgrades its rating on VeriFone Systems Inc. The shares have been rated ‘Hold’ by the firm. On Sep 2, 2016, PiperJaffray said it Downgrades its rating on VeriFone Systems Inc. The shares have been rated ‘Neutral’ by the firm. On Sep 2, 2016, Barclays said it Maintains its rating on VeriFone Systems Inc. In the research note, the firm Lowers the price-target to $21.00 per share. The shares have been rated ‘Equal-weight’ by the firm. On Jul 7, 2016, Barclays said it Maintains its rating on VeriFone Systems Inc. In the research note, the firm Lowers the price-target to $23.00 per share. The shares have been rated ‘Equalweight’ by the firm. On Jun 20, 2016, Imperial Capital said it Maintains its rating on VeriFone Systems Inc. In the research note, the firm Lowers the price-target to $32.00 per share. The shares have been rated ‘Outperform’ by the firm.

VeriFone Systems Inc (PAY) shares turned negative on Tuesdays trading session with the shares closing down -0.51 points or -3.18% at a volume of 39,65,641. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $16.18. The peak price level was also seen at $16.18 while the days lowest was $15.46. Finally the shares closed at $15.53. The 52-week high of the shares is $31.24 while the 52-week low is $15.46. According to the latest information available, the market cap of the company is $1,723 M.

VeriFone Systems Inc(PAY) last announced its earnings results on Sep 1, 2016 for Fiscal Year 2016 and Q3.Company reported revenue of $492.60M. Analysts had an estimated revenue of $515.44M. Earnings per share were $0.42. Analysts had estimated an EPS of $0.41.

Several Insider Transactions has been reported to the SEC. On Dec 30, 2015, Alok Bhanot (EVP, Engineering & CTO) sold 994 shares at $28.74 per share price.Also, On Jun 25, 2015, Eitan Raff (director) sold 1,375 shares at $36.00 per share price.On Apr 22, 2015, Sunil Aruna Kappagoda (President, ASPAC & EVP) sold 52,900 shares at $35.29 per share price, according to the Form-4 filing with the securities and exchange commission.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *

VeriFone Systems Inc - Is it time to Sell?

Top Brokerage Firms are advising their investors on VeriFone Systems Inc. Subscribe to MoneyFlowIndex.Org Pre-Market Alerts, You will be the first to know the street buzz.