VeriFone Systems Inc (PAY) Releases Earnings Results, Beats Expectations By $0.02 EPS

VeriFone Systems Inc (PAY) reported quarterly earnings results on Thursday, Sep-1-2016. The company said it had a profit of $0.42 Earnings per Share for the quarter. The results exceeded Wall Street expectations beating the analyst consensus estimate by $0.02. Analysts had a consensus of $0.40. The company posted revenue of $493.00 million in the period, 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 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 closed down -0.04 points or -0.21% at $19.46 with 22,87,225 shares getting traded on Monday. Post opening the session at $19.53, the shares hit an intraday low of $19.24 and an intraday high of $19.6 and the price fluctuated in this range throughout the day.Shares ended Monday session in Red.

In a different news, on Dec 30, 2015, Alok Bhanot (EVP, Engineering & CTO) sold 994 shares at $28.74 per share price. According to the SEC, 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.

VeriFone Systems Inc

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