Trade Report: Today, Hanson & Doremus Investment Management Acquires 21,325 Shares of VeriFone Systems Inc. (PAY)

Today, Hanson & Doremus Investment Management Acquires 21,325 Shares of VeriFone Systems Inc. (PAY)

Hanson & Doremus Investment Management raised its stake in shares of VeriFone Systems Inc. (NYSE:PAY) by 32.9% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,240 shares of the company’s stock after buying an additional 21,325 shares during the period. Hanson & Doremus Investment Management’s holdings in VeriFone Systems were worth $1,599,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Nicolet Bankshares Inc. boosted its stake in VeriFone Systems by 19.4% in the second quarter. Nicolet Bankshares Inc. now owns 12,010 shares of the company’s stock valued at $223,000 after buying an additional 1,955 shares in the last quarter. Whittier Trust Co. boosted its stake in VeriFone Systems by 45.2% in the second quarter. Whittier Trust Co. now owns 67,084 shares of the company’s stock valued at $1,243,000 after buying an additional 20,876 shares in the last quarter. Baker Ellis Asset Management LLC boosted its stake in VeriFone Systems by 6.1% in the second quarter. Baker Ellis Asset Management LLC now owns 15,690 shares of the company’s stock valued at $291,000 after buying an additional 900 shares in the last quarter. Cambiar Investors LLC boosted its stake in VeriFone Systems by 13.1% in the second quarter. Cambiar Investors LLC now owns 1,827,284 shares of the company’s stock valued at $33,878,000 after buying an additional 210,982 shares in the last quarter. Finally, Capital Fund Management S.A. boosted its stake in VeriFone Systems by 353.6% in the second quarter. Capital Fund Management S.A. now owns 190,110 shares of the company’s stock valued at $3,525,000 after buying an additional 148,201 shares in the last quarter. 95.11% of the stock is owned by institutional investors.

Shares of VeriFone Systems Inc. (NYSE:PAY) traded up 0.565% during trading on Tuesday, reaching $15.125. The company’s stock had a trading volume of 679,789 shares. The firm has a market cap of $1.68 billion, a PE ratio of 50.417 and a beta of 2.04. VeriFone Systems Inc. has a 12 month low of $14.94 and a 12 month high of $31.24. The company’s 50 day moving average price is $16.48 and its 200 day moving average price is $21.26.

VeriFone Systems (NYSE:PAY) last posted its quarterly earnings results on Thursday, September 1st. The company reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.40 by $0.02. VeriFone Systems had a return on equity of 19.50% and a net margin of 1.64%. The company earned $493 million during the quarter, compared to analysts’ expectations of $515.44 million. During the same quarter in the previous year, the firm earned $0.47 EPS. VeriFone Systems’s revenue was down 3.3% on a year-over-year basis. On average, equities analysts predict that VeriFone Systems Inc. will post $1.65 earnings per share for the current year.

Several research firms have recently weighed in on PAY. Craig Hallum began coverage on VeriFone Systems in a research report on Monday. They issued a “buy” rating and a $20.00 price objective for the company. Morgan Stanley reduced their price objective on VeriFone Systems from $23.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, September 20th. Stifel Nicolaus reissued a “buy” rating and issued a $18.00 price objective on shares of VeriFone Systems in a research report on Friday, September 16th. Imperial Capital cut VeriFone Systems from an “outperform” rating to an “in-line” rating and reduced their price objective for the company from $24.00 to $18.00 in a research report on Monday, September 12th. Finally, BTIG Research began coverage on VeriFone Systems in a research note on Friday, September 9th. They issued a “buy” rating and a $21.00 target price for the company. Two investment analysts have rated the stock with a sell rating, fifteen have given a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. VeriFone Systems currently has a consensus rating of “Hold” and a consensus target price of $24.65.

In other news, Director Robert W. Alspaugh sold 8,250 shares of the business’s stock in a transaction on Thursday, September 29th. The stock was sold at an average price of $15.81, for a total transaction of $130,432.50. Following the completion of the transaction, the director now owns 17,250 shares of the company’s stock, valued at approximately $272,722.50. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Eitan Raff sold 4,125 shares of the business’s stock in a transaction on Monday, September 26th. The stock was sold at an average price of $16.13, for a total value of $66,536.25. Following the transaction, the director now directly owns 15,125 shares of the company’s stock, valued at approximately $243,966.25. The disclosure for this sale can be found here. Insiders own 1.20% of the company’s stock.

About VeriFone Systems

VeriFone Systems, Inc is engaged in providing electronic payment solutions at the point of sale (POS). The Company designs, manufactures, markets and supplies a range of payment solutions and complementary services that enable secure electronic payment transactions and value-added services at the POS.

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