Capital Investment Services of America Inc. Cuts Holdings in VeriFone Systems Inc (PAY)

Capital Investment Services of America Inc. decreased its stake in shares of VeriFone Systems Inc (NYSE:PAY) by 4.1% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 324,979 shares of the business services provider’s stock after selling 13,800 shares during the period. Capital Investment Services of America Inc. owned 0.29% of VeriFone Systems worth $5,755,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in PAY. Zions Bancorporation purchased a new position in VeriFone Systems during the third quarter worth $108,000. Riverhead Capital Management LLC increased its position in VeriFone Systems by 80.9% during the second quarter. Riverhead Capital Management LLC now owns 6,693 shares of the business services provider’s stock worth $121,000 after buying an additional 2,993 shares in the last quarter. Carret Asset Management LLC increased its position in VeriFone Systems by 22.1% during the second quarter. Carret Asset Management LLC now owns 14,100 shares of the business services provider’s stock worth $255,000 after buying an additional 2,550 shares in the last quarter. Turner Investments LLC purchased a new position in VeriFone Systems during the third quarter worth $284,000. Finally, Highbridge Capital Management LLC acquired a new stake in shares of VeriFone Systems during the third quarter worth $300,000.

Shares of VeriFone Systems Inc (NYSE PAY) traded down $0.19 during trading on Tuesday, reaching $18.35. The company had a trading volume of 867,100 shares, compared to its average volume of 1,167,933. VeriFone Systems Inc has a 52-week low of $16.80 and a 52-week high of $21.48. The firm has a market capitalization of $2,062.14, a PE ratio of -11.84, a P/E/G ratio of 1.46 and a beta of 1.96. The company has a quick ratio of 1.09, a current ratio of 1.33 and a debt-to-equity ratio of 0.97.

VeriFone Systems (NYSE:PAY) last issued its earnings results on Tuesday, December 12th. The business services provider reported $0.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.43 by $0.01. VeriFone Systems had a positive return on equity of 13.52% and a negative net margin of 9.29%. The firm had revenue of $477.00 million for the quarter, compared to analysts’ expectations of $472.33 million. During the same quarter last year, the firm earned $0.30 earnings per share. The firm’s revenue for the quarter was up 2.8% compared to the same quarter last year. analysts predict that VeriFone Systems Inc will post 1.2 EPS for the current fiscal year.

VeriFone Systems declared that its board has approved a stock repurchase plan on Tuesday, December 12th that authorizes the company to repurchase $100.00 million in outstanding shares. This repurchase authorization authorizes the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase plans are usually a sign that the company’s board of directors believes its stock is undervalued.

PAY has been the topic of several analyst reports. Zacks Investment Research upgraded VeriFone Systems from a “sell” rating to a “hold” rating in a report on Wednesday, September 20th. Barclays restated a “hold” rating and set a $22.00 price objective on shares of VeriFone Systems in a report on Friday, September 29th. UBS Group cut VeriFone Systems from a “strong-buy” rating to an “outperform” rating in a report on Thursday, November 16th. Raymond James Financial cut VeriFone Systems from a “strong-buy” rating to an “outperform” rating and decreased their price objective for the stock from $25.00 to $22.00 in a report on Thursday, November 16th. Finally, Credit Suisse Group raised their price objective on VeriFone Systems from $20.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, December 13th. Two analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and four have given a buy rating to the company. VeriFone Systems has a consensus rating of “Hold” and an average target price of $20.02.

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About VeriFone Systems

VeriFone Systems, Inc offers payments and commerce solutions. The Company is engaged in designing, manufacturing, marketing and supplying a range of payment solutions and complementary services. It provides solutions and services for the retail point-of-sale (POS) that enable various forms of commerce.

Institutional Ownership by Quarter for VeriFone Systems (NYSE:PAY)

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