Exclusive: Time to Buy VeriFone Systems Inc After Achieving Yearly Low?

Exclusive: Time to Buy VeriFone Systems Inc After Achieving Yearly Low?

The stock of VeriFone Systems Inc (NYSE:PAY) hit a new 52-week low and has $14.22 target or 7.00% below today’s $15.29 share price. The 8 months bearish chart indicates high risk for the $1.67B company. The 1-year low was reported on Oct, 13 by Barchart.com. If the $14.22 price target is reached, the company will be worth $116.90 million less.
The 52-week low event is an important milestone for every stock because it shows very negative momentum and is time when sellers come in. During such technical setups, fundamental investors usually stay away and are careful buying the stock. About 1.62M shares traded hands. VeriFone Systems Inc (NYSE:PAY) has declined 42.13% since March 10, 2016 and is downtrending. It has underperformed by 49.65% the S&P500.

VeriFone Systems Inc (NYSE:PAY) Ratings Coverage

Out of 22 analysts covering Verifone Systems Inc. (NYSE:PAY), 9 rate it a “Buy”, 0 “Sell”, while 13 “Hold”. This means 41% are positive. Verifone Systems Inc. has been the topic of 46 analyst reports since August 5, 2015 according to StockzIntelligence Inc. As per Friday, August 14, the company rating was maintained by JP Morgan. SunTrust maintained the stock with “Buy” rating in Wednesday, June 8 report. The rating was maintained by Stifel Nicolaus with “Buy” on Wednesday, June 8. Argus Research upgraded the stock to “Buy” rating in Wednesday, September 30 report. The firm earned “Sector Weight” rating on Wednesday, June 8 by Pacific Crest. Credit Suisse maintained VeriFone Systems Inc (NYSE:PAY) rating on Monday, March 21. Credit Suisse has “Neutral” rating and $32 price target. The stock has “Equal-Weight” rating given by Barclays Capital on Friday, September 2. Stifel Nicolaus maintained the shares of PAY in a report on Friday, December 11 with “Buy” rating. The firm has “Hold” rating given on Wednesday, August 5 by TheStreet. The firm has “Neutral” rating given on Tuesday, August 25 by Piper Jaffray.

According to Zacks Investment Research, “VeriFone Systems, Inc. offers secure electronic payment solutions. The company provides solutions and services to the financial, retail, hospitality, petroleum, transportation, government and healthcare vertical markets. VeriFone Systems, Inc., formerly known as VeriFone Holdings, Inc., is headquartered in San Jose, California.”

Insitutional Activity: The institutional sentiment increased to 1.07 in Q2 2016. Its up 0.13, from 0.94 in 2016Q1. The ratio increased, as 52 funds sold all VeriFone Systems Inc shares owned while 82 reduced positions. 42 funds bought stakes while 101 increased positions. They now own 97.67 million shares or 6.71% less from 104.70 million shares in 2016Q1.
American Century Companies holds 0.03% or 1.62 million shares in its portfolio. Point72 Asia (Hong Kong) Limited holds 0.38% or 17,799 shares in its portfolio. Moreover, Buckhead Cap Ltd Llc has 0.48% invested in VeriFone Systems Inc (NYSE:PAY) for 142,780 shares. Aristotle Capital Boston Ltd Liability last reported 128,712 shares in the company. Penn Mngmt has invested 0.25% of its portfolio in VeriFone Systems Inc (NYSE:PAY). Moreover, Paloma Partners Mgmt Co has 0.01% invested in VeriFone Systems Inc (NYSE:PAY) for 30,961 shares. Sei Invs holds 0.09% of its portfolio in VeriFone Systems Inc (NYSE:PAY) for 836,476 shares. Picton Mahoney Asset Mngmt accumulated 0.02% or 13,850 shares. Qs Limited Liability Company holds 9,011 shares or 0% of its portfolio. Shell Asset Management Company accumulated 547,976 shares or 0.24% of the stock. Connor Clark And Lunn Invest Mgmt Ltd reported 94,875 shares or 0.01% of all its holdings. Ameriprise Fin Inc accumulated 0.01% or 545,845 shares. Rhumbline Advisers accumulated 189,262 shares or 0.01% of the stock. Renaissance Tech Limited Com has 157,100 shares for 0.01% of their US portfolio. Skylands Cap Lc has 0.55% invested in the company for 182,100 shares.

PAY Company Profile

VeriFone Systems, Inc. (VeriFone), formerly VeriFone Holdings, Inc., incorporated on June 13, 2002, is a holding firm of VeriFone, Inc. The Firm is engaged in the secure electronic payment solutions. It provides solutions, and services for the financial services, retail, petroleum, restaurant, hospitality, taxi, transportation, and healthcare markets. The Company’s 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. The Company’s system solutions process a range of payment types. They include signature and personal identification number (PIN) debit cards, credit cards, contactless/radio frequency identification (RFID) cards and tokens, Near Field Communication (NFC), enabled mobile phones, smart cards, pre-paid gift and other stored-value cards, electronic bill payment, check authorization and conversion, signature capture, and electronic benefits transfer (EBT). The Company’s electronic payment systems are available in several modular configurations, offering its support to a range of connectivity options. It also offers clients technical support for installed payment systems, consulting services, and project management services for system deployment, and customization of integrated software solutions.

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