Verifone Systems (PAY) has been under a strong bear grip, hence the stock is down -0.12% when compared to the S&P 500 in the past 4 weeks. However, in the near-term, buying emerged at lower levels and the stock has outperformed the S&P 500 by 0.64% in the past 1 week. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 0.58% in the last 1 week, and is up 3.23% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
The stock has recorded a 20-day Moving Average of 1.97% and the 50-Day Moving Average is 9.06%. VeriFone Systems, Inc. has dropped 32.68% during the last 3-month period . Year-to-Date the stock performance stands at -31.62%.
Verifone Systems (NYSE:PAY): On Fridays trading session , Opening price of the stock was $19.38 with an intraday high of $19.48. The bears continued to sell at higher levels and eventually sold the stock down to an intraday low of $19.035. However, the stock managed to close at $19.16, a loss of 1.24% for the day. On the previous day, the stock had closed at $19.4. The total traded volume of the day was 2,558,897 shares.
Also, Equity analysts at the Brokerage firm Barclays maintains its rating on Verifone Systems (NYSE:PAY). The rating major has initiated the coverage with equalweight rating on the shares. The Analysts at Barclays lowers the price target from $23 per share to $21 per share. The rating by the firm was issued on July 7, 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 Companys 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.