Zacks Investment Research downgraded shares of Global Payments Inc. (NYSE:GPN) from a buy rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “Global Payments Inc. is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations, financial institutions, government agencies and multi- national corporations located throughout the United States, Canada, Latin America and Europe. Global Payments offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery, as well as terminal management. The company also provides consumer money transfer services from the U.S. and Europe to destinations in Latin America, Morocco, and the Philippines. “
Other equities analysts have also recently issued reports about the stock. Barclays PLC upped their target price on shares of Global Payments from $75.00 to $85.00 and gave the company an equal weight rating in a research note on Friday, September 30th. Robert W. Baird reiterated an outperform rating and set a $88.00 target price on shares of Global Payments in a research note on Thursday, October 13th. Nomura upped their target price on shares of Global Payments from $64.00 to $66.00 in a research note on Friday, July 29th. Stifel Nicolaus upgraded shares of Global Payments from a hold rating to a buy rating and upped their target price for the company from $76.00 to $85.00 in a research note on Friday, November 4th. They noted that the move was a valuation call. Finally, Compass Point upgraded shares of Global Payments from a neutral rating to a buy rating and set a $77.00 target price for the company in a research note on Tuesday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have issued a buy rating to the stock. The company presently has a consensus rating of Buy and an average target price of $78.88.
Global Payments (NYSE:GPN) opened at 72.09 on Wednesday. The firm has a market capitalization of $11.08 billion, a price-to-earnings ratio of 37.10 and a beta of 1.10. The firm’s 50-day moving average is $72.18 and its 200-day moving average is $74.44. Global Payments has a 1-year low of $51.29 and a 1-year high of $79.93.
Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, October 5th. The company reported $0.86 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.03. The business earned $939.50 million during the quarter. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. Global Payments’s quarterly revenue was up 52.2% on a year-over-year basis. During the same period in the prior year, the company posted $0.79 earnings per share. On average, equities analysts anticipate that Global Payments will post $3.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Friday, November 11th were paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.06%. The ex-dividend date of this dividend was Tuesday, November 8th. Global Payments’s payout ratio is 2.06%.
In related news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of Global Payments stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $74.73, for a total transaction of $485,745.00. Following the transaction, the director now owns 349,063 shares of the company’s stock, valued at approximately $26,085,477.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Guido Francesco Sacchi sold 11,102 shares of Global Payments stock in a transaction that occurred on Tuesday, October 11th. The stock was sold at an average price of $73.80, for a total transaction of $819,327.60. Following the transaction, the executive vice president now directly owns 23,904 shares in the company, valued at approximately $1,764,115.20. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPN. Catalyst Capital Advisors LLC purchased a new position in Global Payments during the third quarter valued at $100,000. Acrospire Investment Management LLC raised its position in Global Payments by 77.8% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the company’s stock valued at $114,000 after buying an additional 700 shares during the last quarter. Financial Architects Inc raised its position in Global Payments by 1,305.2% in the second quarter. Financial Architects Inc now owns 1,616 shares of the company’s stock valued at $115,000 after buying an additional 1,501 shares during the last quarter. Global X Management Co. LLC raised its position in Global Payments by 90.7% in the third quarter. Global X Management Co. LLC now owns 1,943 shares of the company’s stock valued at $149,000 after buying an additional 924 shares during the last quarter. Finally, PineBridge Investments L.P. purchased a new position in Global Payments during the second quarter valued at $139,000. 94.28% of the stock is currently owned by institutional investors and hedge funds.
Global Payments Company Profile
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.