VeriFone and Parexel Lead Top Stock Price Percentage Winners Jan 31st
PAREXEL International Corporation (NASDAQ:PRXL): Baird raised its price target on PAREXEL following in-line Q2 earnings. The firm believes the company is well positioned heading into 2012 citing record backlogs, strong operational results, and impressive bookings. Shares are Outperform rated. The shares closed at $24.10, up $3.64, or 17.79%. They have traded in a 52-week range of $15.26 to $27.91.
VeriFone Systems Inc (NYSE:PAY): VeriFone (NYSE:PAY), which provides retail electronic payment devices that process credit cards, climbed after MasterCard (NYSE:MA) indicated that it would seek to introduce in the U.S. a new credit card standard, known as EMV technology. EMV technology, which would replace magnetic stripes, is currently available on credit cards with chips, the company said. Furthermore, MasterCard said that it would incentivize merchants to implement new EMV-compatible payment terminals. “We’re moving toward a world…where consumers will shop and pay in a way that best fits their needs and lifestyles with a simple tap, click or touch in-store, online or on a mobile device,” said Chris McWilton, President, U.S. Markets, MasterCard. In a note to investors, JP Morgan said that MasterCard’s announcement is positive for VeriFone because MasterCard, unlike Visa (NYSE:V), is providing incentives for adopting “chip-and-PIN” technology. The shares closed at $42.70, up $3.29, or 8.35%. They have traded in a 52-week range of $30.25 to $58.88.
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