With the markets up as much as they are over the past two years, it's
not so surprising that there are a lot of stories out there along the
lines of "it's a good company and they have a good plan, but be careful
about the valuation".
Payment processing service provider Heartland Payments (HPY)
definitely fits that description for me. I believe the company's direct
sales force and uncommon transparency give it an edge in the processing
space. Likewise, I believe the company's forays into newer businesses
like payroll and education-related processing can generate worthwhile
returns. I just question whether there's a lot of loose change left in
the couch for a stock that is up more than 100% over the past two years
and trading a little rich relative to its growth.
Please follow this link for more:
Heartland Payment's New Ventures Make Sense, But Mind The Multiples
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