Global Payments Inc. (GPN) Stock Rating Reaffirmed by Citigroup Inc.

Global Payments Inc. (NYSE:GPN)‘s stock had its “buy” rating reissued by stock analysts at Citigroup Inc. in a research report issued to clients and investors on Thursday. They presently have a $116.00 price objective on the business services provider’s stock, up from their prior price objective of $107.00. Citigroup Inc.’s price objective points to a potential upside of 17.35% from the company’s current price.

Other analysts have also issued reports about the stock. Robert W. Baird reissued a “buy” rating and issued a $106.00 price objective on shares of Global Payments in a research report on Tuesday, September 5th. Stifel Nicolaus reissued a “buy” rating and issued a $103.00 price objective (up from $102.00) on shares of Global Payments in a research report on Friday, August 4th. Royal Bank Of Canada reduced their price objective on shares of Global Payments from $103.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, August 4th. BMO Capital Markets increased their price objective on shares of Global Payments from $103.00 to $115.00 and gave the stock a “positive” rating in a research report on Thursday. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and issued a $100.00 price objective on shares of Global Payments in a research report on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-three have given a buy rating to the company’s stock. Global Payments presently has a consensus rating of “Buy” and an average target price of $104.01.

Shares of Global Payments (GPN) opened at $98.85 on Thursday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.14 and a quick ratio of 1.20. Global Payments has a 1 year low of $64.63 and a 1 year high of $104.83. The firm has a market cap of $15,806.02, a PE ratio of 26.70, a P/E/G ratio of 1.82 and a beta of 1.14.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.03 by $0.12. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The company had revenue of $1.04 billion for the quarter, compared to analyst estimates of $917.31 million. During the same period in the prior year, the company posted $0.89 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. equities research analysts predict that Global Payments will post 3.75 earnings per share for the current fiscal year.

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In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 5,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $94.58, for a total value of $529,648.00. Following the completion of the sale, the director now directly owns 178,177 shares in the company, valued at $16,851,980.66. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director William I. Jacobs sold 8,428 shares of the firm’s stock in a transaction that occurred on Monday, August 21st. The shares were sold at an average price of $94.05, for a total transaction of $792,653.40. Following the completion of the sale, the director now owns 40,675 shares of the company’s stock, valued at $3,825,483.75. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 77,755 shares of company stock valued at $7,535,230. 0.93% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently bought and sold shares of the business. JPMorgan Chase & Co. raised its holdings in shares of Global Payments by 162.0% in the second quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock worth $296,636,000 after buying an additional 2,030,880 shares during the last quarter. Aviva PLC raised its holdings in shares of Global Payments by 0.6% in the second quarter. Aviva PLC now owns 93,792 shares of the business services provider’s stock worth $8,472,000 after buying an additional 560 shares during the last quarter. North Star Asset Management Inc. raised its holdings in shares of Global Payments by 0.9% in the third quarter. North Star Asset Management Inc. now owns 176,000 shares of the business services provider’s stock worth $14,200,000 after buying an additional 1,637 shares during the last quarter. Nationwide Fund Advisors raised its holdings in shares of Global Payments by 3.5% in the second quarter. Nationwide Fund Advisors now owns 259,572 shares of the business services provider’s stock worth $23,445,000 after buying an additional 8,821 shares during the last quarter. Finally, Shelton Capital Management raised its holdings in shares of Global Payments by 13.0% in the second quarter. Shelton Capital Management now owns 18,126 shares of the business services provider’s stock worth $1,637,000 after buying an additional 2,086 shares during the last quarter. 98.10% 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.

Analyst Recommendations for Global Payments (NYSE:GPN)

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