Global Payments Inc. (NYSE:GPN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Wednesday. The firm currently has a $110.00 price target on the business services provider’s stock. Zacks Investment Research‘s price objective points to a potential upside of 11.65% from the stock’s current price.
According to Zacks, “Global Payments' shares have outperformed its industry year to date. The company’s investment in future growth, efforts to progress with the Heartland integration and successfully refinancing its credit facilities bode well for the long term. The company is witnessing sustained growth in business from Europe, Asia Pacific and North America. Following the company’s strong second-quarter earnings, Heartland integration as well as the recent refinancing, the company raised its projections for 2017. Nevertheless, the company suffers from high debt and exposure to currency volatility.”
GPN has been the subject of several other research reports. Robert W. Baird increased their price objective on Global Payments from $106.00 to $110.00 and gave the stock an “outperform” rating in a report on Thursday, September 28th. J P Morgan Chase & Co increased their price objective on Global Payments from $106.00 to $107.00 and gave the stock an “overweight” rating in a report on Tuesday, September 12th. Credit Suisse Group reiterated an “outperform” rating on shares of Global Payments in a report on Tuesday, September 5th. Royal Bank Of Canada reiterated a “buy” rating and issued a $90.00 price objective on shares of Global Payments in a report on Friday, July 7th. Finally, BidaskClub cut Global Payments from a “buy” rating to a “hold” rating in a report on Saturday, August 26th. One analyst has rated the stock with a sell rating, three have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. Global Payments currently has a consensus rating of “Buy” and a consensus target price of $100.57.
Shares of Global Payments (NYSE GPN) opened at 98.52 on Wednesday. Global Payments has a one year low of $64.63 and a one year high of $100.34. The firm has a 50-day moving average price of $95.75 and a 200-day moving average price of $90.29. The company has a market capitalization of $15.02 billion, a P/E ratio of 76.43 and a beta of 1.11.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The business had revenue of $847.90 million during the quarter, compared to analysts’ expectations of $837.76 million. During the same quarter last year, the business posted $0.76 EPS. The business’s revenue was up 18.4% on a year-over-year basis. Equities analysts forecast that Global Payments will post $3.96 earnings per share for the current year.
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In other Global Payments news, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction on Monday, September 18th. The stock was sold at an average price of $97.70, for a total value of $58,620.00. Following the completion of the sale, the director now owns 46,693 shares of the company’s stock, valued at approximately $4,561,906.10. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 8,200 shares of Global Payments stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $97.61, for a total value of $800,402.00. Following the completion of the sale, the director now directly owns 172,497 shares of the company’s stock, valued at approximately $16,837,432.17. The disclosure for this sale can be found here. In the last three months, insiders sold 137,549 shares of company stock valued at $13,043,823. Corporate insiders own 0.93% of the company’s stock.
Institutional investors have recently bought and sold shares of the business. Sun Life Financial INC increased its holdings in shares of Global Payments by 15,728.6% in the 2nd quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock worth $100,000 after purchasing an additional 1,101 shares in the last quarter. Thompson Davis & CO. Inc. increased its holdings in shares of Global Payments by 0.8% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after purchasing an additional 10 shares in the last quarter. Intellectus Partners LLC bought a new stake in shares of Global Payments in the 2nd quarter worth $128,000. Commonwealth Bank of Australia increased its holdings in shares of Global Payments by 13.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock worth $131,000 after purchasing an additional 176 shares in the last quarter. Finally, Stephens Inc. AR bought a new stake in shares of Global Payments in the 2nd quarter worth $143,000. 97.84% of the stock is owned by institutional investors and hedge funds.
About Global Payments
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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