Visa’s (V) “Outperform” Rating Reiterated at Cowen and Company

Cowen and Company reaffirmed their outperform rating on shares of Visa Inc. (NYSE:V) in a research report released on Saturday, July 22nd. The firm currently has a $107.00 target price on the credit-card processor’s stock, up from their prior target price of $105.00.

Several other research firms have also recently commented on V. Bank of America Corporation lifted their target price on Visa from $103.00 to $111.00 and gave the company a buy rating in a research note on Friday, July 21st. Loop Capital lifted their target price on Visa from $101.00 to $111.00 and gave the company a buy rating in a research note on Friday, July 21st. They noted that the move was a valuation call. Instinet lifted their target price on Visa from $105.00 to $120.00 and gave the company a buy rating in a research note on Friday, July 21st. Nomura lifted their target price on Visa from $105.00 to $120.00 and gave the company a buy rating in a research note on Friday, July 21st. Finally, Vetr lowered Visa from a buy rating to a hold rating and set a $100.12 price target on the stock. in a research report on Monday, July 17th. Four investment analysts have rated the stock with a hold rating, twenty-six have given a buy rating and two have assigned a strong buy rating to the company. The stock has an average rating of Buy and a consensus target price of $104.56.

Visa (V) opened at 100.09 on Friday. The company has a market capitalization of $228.85 billion, a P/E ratio of 37.22 and a beta of 0.94. Visa has a 52 week low of $75.17 and a 52 week high of $101.72. The company’s 50-day moving average price is $97.74 and its 200-day moving average price is $92.09.

Visa (NYSE:V) last released its earnings results on Thursday, July 20th. The credit-card processor reported $0.86 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.81 by $0.05. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.36 billion. Visa had a return on equity of 30.95% and a net margin of 36.53%. The business’s revenue for the quarter was up 25.8% on a year-over-year basis. During the same period last year, the firm earned $0.69 EPS. On average, equities analysts forecast that Visa will post $3.43 EPS for the current fiscal year.

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Visa announced that its Board of Directors has initiated a share repurchase program on Thursday, April 20th that permits the company to buyback $5.00 billion in shares. This buyback authorization permits the credit-card processor to buy up to 2.4% of its stock through open market purchases. Stock buyback programs are typically an indication that the company’s leadership believes its stock is undervalued.

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 5th. Shareholders of record on Friday, August 18th will be given a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a yield of 0.66%. The ex-dividend date is Wednesday, August 16th. Visa’s dividend payout ratio (DPR) is presently 24.54%.

In other news, EVP Tullier Kelly Mahon sold 29,772 shares of the business’s stock in a transaction that occurred on Thursday, July 27th. The stock was sold at an average price of $100.91, for a total transaction of $3,004,292.52. Following the completion of the sale, the executive vice president now owns 17,360 shares in the company, valued at $1,751,797.60. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 0.14% of the company’s stock.

Large investors have recently modified their holdings of the company. Vicus Capital boosted its stake in shares of Visa by 17.4% in the first quarter. Vicus Capital now owns 4,719 shares of the credit-card processor’s stock worth $419,000 after buying an additional 701 shares in the last quarter. Weitz Investment Management Inc. boosted its stake in shares of Visa by 16,443.8% in the fourth quarter. Weitz Investment Management Inc. now owns 860,277 shares of the credit-card processor’s stock worth $67,119,000 after buying an additional 855,077 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of Visa by 2.9% in the fourth quarter. Envestnet Asset Management Inc. now owns 583,049 shares of the credit-card processor’s stock worth $45,491,000 after buying an additional 16,566 shares in the last quarter. Vulcan Value Partners LLC boosted its stake in shares of Visa by 1.7% in the fourth quarter. Vulcan Value Partners LLC now owns 4,839,570 shares of the credit-card processor’s stock worth $377,563,000 after buying an additional 79,656 shares in the last quarter. Finally, Archon Partners LLC boosted its stake in shares of Visa by 0.3% in the fourth quarter. Archon Partners LLC now owns 101,560 shares of the credit-card processor’s stock worth $7,924,000 after buying an additional 260 shares in the last quarter. Institutional investors own 82.46% of the company’s stock.

Visa Company Profile

Visa Inc (Visa) is a payments technology company that connects consumers, merchants, financial institutions, businesses, strategic partners and government entities to electronic payments. The Company operates through payment services segment. The Company enables global commerce through the transfer of value and information among the participants.

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