Lapides Asset Management buys $19,442,268 stake in VeriFone Systems Inc (PAY)

VeriFone Systems Inc (PAY) : Lapides Asset Management scooped up 301,800 additional shares in VeriFone Systems Inc during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 8, 2016. The investment management firm now holds a total of 1,043,600 shares of VeriFone Systems Inc which is valued at $19,442,268.VeriFone Systems Inc makes up approximately 3.20% of Lapides Asset Management’s portfolio.

Other Hedge Funds, Including , Finemark National Bank Trust sold out all of its stake in PAY during the most recent quarter. The investment firm sold 25 shares of PAY which is valued $466.Her Majesty The Queen In Right Of The Province Of Alberta… reduced its stake in PAY by selling 3,660 shares or 3.52% in the most recent quarter. The Hedge Fund company now holds 100,250 shares of PAY which is valued at $1,931,818. VeriFone Systems Inc makes up approx 0.02% of Her Majesty The Queen In Right Of The Province Of Alberta…’s portfolio.Douglas Lane Associates reduced its stake in PAY by selling 81,577 shares or 15.64% in the most recent quarter. The Hedge Fund company now holds 440,153 shares of PAY which is valued at $8,578,582. VeriFone Systems Inc makes up approx 0.23% of Douglas Lane Associates’s portfolio. 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.Nn Investment Partners Holdings N.v. boosted its stake in PAY in the latest quarter, The investment management firm added 1,425 additional shares and now holds a total of 33,319 shares of VeriFone Systems Inc which is valued at $623,732. VeriFone Systems Inc makes up approx 0.01% of Nn Investment Partners Holdings N.v.’s portfolio.

VeriFone Systems Inc opened for trading at $18.89 and hit $19.12 on the upside on Monday, eventually ending the session at $19.09, with a gain of 2.19% or 0.41 points. The heightened volatility saw the trading volume jump to 37,98,768 shares. Company has a market cap of $2,110 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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