Pacer Advisors Inc. Reduces Stock Position in Visa Inc. (NYSE:V)

Pacer Advisors Inc. trimmed its position in Visa Inc. (NYSE:V) by 14.9% in the 4th quarter, HoldingsChannel reports. The firm owned 143,884 shares of the credit-card processor’s stock after selling 25,224 shares during the quarter. Pacer Advisors Inc.’s holdings in Visa were worth $45,473,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of V. Custom Index Systems LLC purchased a new position in Visa during the third quarter valued at approximately $731,000. Copley Financial Group Inc. purchased a new position in shares of Visa during the 3rd quarter valued at approximately $616,000. Oak Ridge Investments LLC lifted its stake in shares of Visa by 5.9% in the 4th quarter. Oak Ridge Investments LLC now owns 75,456 shares of the credit-card processor’s stock valued at $23,847,000 after purchasing an additional 4,198 shares during the period. FORA Capital LLC purchased a new stake in Visa during the third quarter worth $7,987,000. Finally, Chicago Capital LLC grew its position in Visa by 5.2% during the third quarter. Chicago Capital LLC now owns 404,914 shares of the credit-card processor’s stock valued at $111,331,000 after buying an additional 20,023 shares during the period. Institutional investors and hedge funds own 82.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on V. Robert W. Baird upped their price objective on shares of Visa from $330.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 30th. Mizuho upped their price target on Visa from $279.00 to $292.00 and gave the stock a “neutral” rating in a report on Friday, November 1st. Keefe, Bruyette & Woods raised their price objective on Visa from $335.00 to $360.00 and gave the company an “outperform” rating in a report on Monday, December 9th. TD Cowen upped their target price on Visa from $318.00 to $325.00 and gave the stock a “buy” rating in a research note on Wednesday, October 30th. Finally, Barclays lifted their price target on shares of Visa from $319.00 to $347.00 and gave the company an “overweight” rating in a research note on Monday, November 4th. Four analysts have rated the stock with a hold rating, twenty-three have assigned a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $335.52.

Insider Buying and Selling at Visa

In related news, CEO Ryan Mcinerney sold 8,620 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $317.78, for a total transaction of $2,739,263.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Paul D. Fabara sold 2,171 shares of Visa stock in a transaction dated Friday, November 22nd. The shares were sold at an average price of $307.97, for a total value of $668,602.87. Following the completion of the transaction, the insider now directly owns 17,894 shares of the company’s stock, valued at approximately $5,510,815.18. This represents a 10.82 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.13% of the stock is currently owned by corporate insiders.

Visa Stock Up 0.6 %

V stock opened at $336.45 on Thursday. The firm has a market cap of $626.76 billion, a PE ratio of 34.58, a PEG ratio of 2.17 and a beta of 0.96. Visa Inc. has a one year low of $252.70 and a one year high of $337.83. The company has a debt-to-equity ratio of 0.55, a quick ratio of 1.28 and a current ratio of 1.28. The firm’s 50 day moving average price is $315.85 and its 200-day moving average price is $291.78.

Visa (NYSE:V) last announced its quarterly earnings results on Tuesday, October 29th. The credit-card processor reported $2.71 EPS for the quarter, beating the consensus estimate of $2.58 by $0.13. The business had revenue of $9.62 billion for the quarter, compared to analyst estimates of $9.49 billion. Visa had a return on equity of 53.16% and a net margin of 54.96%. The company’s quarterly revenue was up 11.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.33 EPS. On average, equities research analysts anticipate that Visa Inc. will post 11.19 EPS for the current year.

About Visa

Visa Inc operates as a payment technology company in the United States and internationally. The company operates VisaNet, a transaction processing network that enables authorization, clearing, and settlement of payment transactions. It also offers credit, debit, and prepaid card products; tap to pay, tokenization, and click to pay services; Visa Direct, a solution that facilitates the delivery of funds to eligible cards, deposit accounts, and digital wallets; Visa B2B Connect, a multilateral business-to-business cross-border payments network; Visa Cross-Border Solution, a cross-border consumer payments solution; and Visa DPS that provides a range of value-added services, including fraud mitigation, dispute management, data analytics, campaign management, a suite of digital solutions, and contact center services.