VeriFone Systems Stock Hits New 52-Week High (PAY)

NEW YORK ( TheStreet) -- VeriFone Systems (NYSE: PAY) hit a new 52-week high Thursday as it is currently trading at $55.71, above its previous 52-week high of $55.64 with 867,098 shares traded as of 11:55 a.m. ET. Average volume has been 2.2 million shares over the past 30 days.

VeriFone Systems has a market cap of $5.66 billion and is part of the consumer goods sector and consumer durables industry. Shares are up 52.7% year to date as of the close of trading on Wednesday.

Verifone Systems, Inc. designs, markets, and services electronic payment solutions in North America and internationally. The company has a P/E ratio of 21.4, above the average consumer durables industry P/E ratio of 20.9 and above the S&P 500 P/E ratio of 17.7.

TheStreet Ratings rates VeriFone Systems as a buy. The company's strengths can be seen in multiple areas, such as its robust revenue growth, good cash flow from operations, expanding profit margins and increase in stock price during the past year. We feel these strengths outweigh the fact that the company has had sub par growth in net income. You can view the full VeriFone Systems Ratings Report.

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