Capital Investment Services Of America Lowers stake in VeriFone Systems Inc (PAY)

VeriFone Systems Inc (PAY) : Capital Investment Services Of America reduced its stake in VeriFone Systems Inc by 13.84% during the most recent quarter end. The investment management company now holds a total of 221,925 shares of VeriFone Systems Inc which is valued at $3,550,800 after selling 35,640 shares in VeriFone Systems Inc , the firm said in a disclosure report filed with the SEC on Oct 7, 2016.VeriFone Systems Inc makes up approximately 0.68% of Capital Investment Services Of America’s portfolio.

Other Hedge Funds, Including , Simplex Trading sold out all of its stake in PAY during the most recent quarter. The investment firm sold 8,168 shares of PAY which is valued $130,688.Bnp Paribas Arbitrage Sa reduced its stake in PAY by selling 33,384 shares or 76.6% in the most recent quarter. The Hedge Fund company now holds 10,198 shares of PAY which is valued at $168,165.North Star Asset Management Inc boosted its stake in PAY in the latest quarter, The investment management firm added 47,930 additional shares and now holds a total of 423,623 shares of VeriFone Systems Inc which is valued at $6,985,543. VeriFone Systems Inc makes up approx 0.79% of North Star Asset Management Inc’s portfolio.

VeriFone Systems Inc closed down -0.44 points or -2.68% at $16 with 18,93,414 shares getting traded on Friday. Post opening the session at $16.4, the shares hit an intraday low of $15.97 and an intraday high of $16.43 and the price fluctuated in this range throughout the day.Shares ended Friday session in Red.

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 Downgraded by Imperial Capital on Sep 12, 2016 to ” In-line” and Lowered the Price Target to $ 18 from a previous price target of $24 .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.

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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