Past missteps have left Verifone playing catch-up.
We are maintaining our $15 fair value estimate for no-moat Verifone following the release of the company’s second fiscal quarter earnings. The company took $68.9 million in restructuring charges during the quarter in addition to a $17.4 million goodwill impairment as it proceeded with plans to divest its Chinese and media businesses. We believe that Verifone will unfortunately be forced to continue spending money to adapt its business model to the decline of point-of-sale hardware over time. Thi...VeriFone Systems is a holding company. Through its subsidiaries, the company provides payments and commerce solutions at the point of sale (POS). The company is engaged in designing, manufacturing, marketing and supplying a range of payment solutions and complementary services. The company's system solutions consist of POS electronic payment devices that run its operating systems, security and encryption software, and certified payment software, and that are designed to suit its clients' needs in a range of environments, including multilane and countertop implementations, self-service and unattended environments, in-vehicle and portable deployments, mobile point-of-sale solutions, as well as iPOS solutions.
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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