Visa Inc. (NYSE:V) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Thursday.

According to Zacks, “Visa’s third-quarter fiscal 2017 earnings of $0.86 per share, beat estimates by 7.5% and grew 25% year-over-year. Results reflected solid payment volume growth, a double-digit increase in cross-border revenue and healthy operating metrics from every region. Shares of Visa have gained 29% year to date, outperforming the industry’s gain of 23%. This outperformance may have been driven by strategic acquisitions and alliances, technology upgrades and effective marketing that have paved the way for long-term growth. Visa is well poised to gain from the growing electronic payment processing and strong international business. A solid balance sheet position ensures effective capital deployment. However, higher expenses, forex volatility, increased client incentives, global economic uncertainty and legal headwinds remain concerns.”

Several other research analysts have also weighed in on the stock. CIBC upped their target price on shares of Visa from $95.00 to $100.00 and gave the stock an “outperform” rating in a research report on Wednesday, April 26th. Deutsche Bank AG upped their target price on shares of Visa from $124.00 to $150.00 and gave the stock a “buy” rating in a research report on Monday, July 10th. Vetr lowered shares of Visa from a “hold” rating to a “sell” rating and set a $92.84 target price on the stock. in a research report on Monday, June 5th. Cowen and Company restated an “outperform” rating and set a $105.00 target price (up from $100.00) on shares of Visa in a research report on Sunday, April 23rd. Finally, Wedbush restated an “outperform” rating and set a $100.00 target price (up from $96.00) on shares of Visa in a research report on Tuesday, June 6th. Five analysts have rated the stock with a hold rating, twenty-five have assigned a buy rating and two have given a strong buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and an average price target of $104.35.

Visa (NYSE V) traded down 0.8231% during midday trading on Thursday, hitting $100.0199. 3,310,063 shares of the stock traded hands. Visa has a one year low of $75.17 and a one year high of $101.18. The company’s 50 day moving average is $95.78 and its 200-day moving average is $90.60. The company has a market cap of $228.69 billion, a P/E ratio of 37.1959 and a beta of 0.93.

Visa (NYSE:V) last issued its quarterly earnings results on Thursday, July 20th. The credit-card processor reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.81 by $0.05. Visa had a net margin of 36.53% and a return on equity of 30.95%. The business had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.36 billion. During the same period in the previous year, the business posted $0.69 earnings per share. The business’s revenue was up 25.8% compared to the same quarter last year. On average, equities research analysts forecast that Visa will post $3.42 EPS for the current fiscal year.

Visa announced that its board has initiated a stock repurchase program on Thursday, April 20th that allows the company to repurchase $5.00 billion in shares. This repurchase authorization allows the credit-card processor to reacquire up to 2.4% of its shares through open market purchases. Shares repurchase programs are usually a sign that the company’s leadership believes its shares are undervalued.

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Several large investors have recently added to or reduced their stakes in the company. Pekin Singer Strauss Asset Management IL acquired a new stake in Visa during the fourth quarter valued at about $1,104,000. Capital International Inc. CA raised its stake in Visa by 32.1% in the fourth quarter. Capital International Inc. CA now owns 157,800 shares of the credit-card processor’s stock valued at $12,312,000 after buying an additional 38,300 shares during the last quarter. Private Trust Co. NA raised its stake in Visa by 12.6% in the first quarter. Private Trust Co. NA now owns 36,990 shares of the credit-card processor’s stock valued at $3,287,000 after buying an additional 4,138 shares during the last quarter. West Oak Capital LLC raised its stake in Visa by 20.0% in the first quarter. West Oak Capital LLC now owns 3,589 shares of the credit-card processor’s stock valued at $319,000 after buying an additional 598 shares during the last quarter. Finally, AQR Capital Management LLC raised its stake in Visa by 28.4% in the fourth quarter. AQR Capital Management LLC now owns 475,449 shares of the credit-card processor’s stock valued at $37,095,000 after buying an additional 105,030 shares during the last quarter. 82.02% of the stock is owned by institutional investors.

About Visa

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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