Price Target Update on Verifone Systems (NYSE:PAY)

Verifone Systems (NYSE:PAY) stock is expected to deviate a maximum of $6.41 from the average target price of $28.6 for the short term period. 15 Street Experts have initiated coverage on the stock with the most promising target being $42 and the most muted being $19.

Other Equity analysts have also commented on the company shares. Major Brokerage house, Standpoint Research upgrades its ratings on Verifone Systems (NYSE:PAY). According to the latest information available, the shares are now rated Buy by the analysts at the agency. Previously, the analysts had a Hold rating on the shares. The rating by the firm was issued on June 9, 2016.

Verifone Systems (NYSE:PAY): stock turned positive on Thursday. Though the stock opened at $19.54, the bulls momentum made the stock top out at $19.64 level for the day. The stock recorded a low of $19.25 and closed the trading day at $19.5, in the green by 0.83%. The total traded volume for the day was 3,085,094. The stock had closed at $19.34 in the previous days trading.

The company shares have dropped -44.99% from its 1 Year high price. On Jun 26, 2015, the shares registered one year high at $35.74 and the one year low was seen on Jun 22, 2016. The 50-Day Moving Average price is $24.41 and the 200 Day Moving Average price is recorded at $25.65. On the companys insider trading activities, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the officer (EVP, Engineering & CTO) of Verifone Systems, Inc., Bhanot Alok had sold 994 shares worth of $28,568 in a transaction dated December 29, 2015. In this transaction, 994 shares were sold at $28.74 per share.

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.

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