Verifone Systems (PAY) : Traders are bullish on Verifone Systems (PAY) as it has outperformed the S&P 500 by a wide margin of 0.93% in the past 4 weeks. The bullishness in the stock continues even in the near-term as the stock has returned an impressive 3.35%, relative to the S&P 500. The stock has continued its bullish performance both in the near-term and the medium-term, as the stock is up 3.32% in the last 1 week, and is up 1.31% in the past 4 weeks. Buying continues as the stock moves higher, suggesting a strong appetite for the stock.
VeriFone Systems, Inc. has dropped 26.2% during the last 3-month period . Year-to-Date the stock performance stands at -31.12%. The stock has recorded a 20-day Moving Average of 0.96% and the 50-Day Moving Average is 2.2%.
Verifone Systems (NYSE:PAY): During Fridays trading session, Bulls were in full control of the stock right from the opening. The stock opened at $18.90 and $18.78 proved to be the low of the day. Continuous buying at higher levels pushed the stock towards an intraday high of $19.53. The buying momentum continued till the end and the stock did not give up its gains. It closed at $19.30, notching a gain of 2.50% for the day. The total traded volume was 2,830,284 . The stock had closed at $18.83 on the previous day.
Also, Barclays maintains its rating on Verifone Systems (NYSE:PAY). The global brokerage major lowers the current price target from $23 per share to $21 per share. Analysts at the Barclays have a current rating of Equalweight on the shares. 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.