Global Payments Has the Assets It Needs to Maintain Its Moat in a Shifting Environment
Global Payments’ fourth-quarter results show the company maintaining its momentum. Growth remains solid, and margins continue to improve. We will maintain our $123 fair value estimate and narrow moat rating.Adjusted net revenue in the quarter was up 12% year over year, marking a modest deceleration from results earlier in the year but still quite healthy in an absolute sense. By region, North America was the strongest performer, with 14% growth. International results were held back by currency ...
Global Payments is a pure play payment technology company providing payments and software solutions to merchants and financial institutions. The company has three segments: Merchant Solutions, which includes authorization services, chargeback resolution, and payment security services; Issuer Solutions, which provides solutions that enable financial institutions and other financial service providers to manage their card portfolios and reduces technical difficulty and overhead on a single platform; and Business and Consumer Solutions, which provides general purpose reloadable prepaid debit and payroll cards, demand deposit accounts and other financial service solutions through its Netspend? brand.
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.
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