Global Payments Continues to Add Software Capabilities in 2Q; Boosts Growth Outlook
We are maintaining our $89 fair value estimate for narrow-moat Global Payments following the company’s second-quarter earnings release. The company expects adjusted earnings per share growth of 21%-25% for the year, and we believe management’s efforts to maintain competitive advantages in both processing scale and distribution will allow it to continue riding the growth of electronic payments. In fact, Global Payments announced the acquisition of the communities and sports divisions of Active Ne...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
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