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NEW YORK ( TheStreet) -- Visa (NYSE: V) hit a new 52-week high Friday as it is currently trading at $123.50, above its previous 52-week high of $121.16 with 3.8 million shares traded as of 3:10 p.m. ET. Average volume has been 3.6 million shares over the past 30 days. Visa has a market cap of $62.77 billion and is part of the services sector and diversified services industry. Shares are up 19.2% year to date as of the close of trading on Thursday. Visa Inc., a payments technology company, engages in the operation of retail electronic payments network worldwide. It facilitates commerce through the transfer of value and information among financial institutions, merchants, consumers, businesses, and government entities. The company has a P/E ratio of 21.7, below the average diversified services industry P/E ratio of 28.7 and above the S&P 500 P/E ratio of 17.7.