VeriFone Systems Rises On Unusually High Volume (PAY)

NEW YORK ( TheStreet) -- VeriFone Systems Inc (NYSE: PAY) is trading at unusually high volume Wednesday with 6.1 million shares changing hands. It is currently at four times its average daily volume and trading up $4.38 (+9.8%) at $48.99 as of 3:16 p.m. ET.

VeriFone Systems has a market cap of $4 billion and is part of the consumer goods sector and consumer durables industry. Shares are up 15.7% year to date as of the close of trading on Tuesday.

VeriFone Systems, Inc. designs, markets, and services electronic payment solutions that enable secure electronic payments among consumers, merchants, and financial institutions worldwide. The company has a P/E ratio of 40.2, equal to the average consumer durables industry P/E ratio and above the S&P 500 P/E ratio of 21.9.

TheStreet Ratings rates VeriFone Systems as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, impressive record of earnings per share growth, compelling growth in net income, notable return on equity and solid stock price performance. We feel these strengths outweigh the fact that the company is trading at a premium valuation based on our review of its current price compared to such things as earnings and book value. You can view the full VeriFone Systems Ratings Report.

See all heavy volume stocks in our stocks moving on unusual volume list or get investment ideas from our investment research center.

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