Global Payments Inc. (NYSE:GPN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Monday. The brokerage currently has a $80.00 price objective on the stock. Zacks Investment Research’s target price would indicate a potential upside of 11.83% from the stock’s previous close.
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 analysts have also recently issued research reports about the stock. Deutsche Bank AG restated a “buy” rating and issued a $85.00 price objective (up previously from $79.00) on shares of Global Payments in a research report on Thursday, October 6th. Compass Point upgraded Global Payments from a “neutral” rating to a “buy” rating and set a $77.00 target price for the company in a report on Tuesday, November 15th. Stifel Nicolaus upgraded Global Payments from a “hold” rating to a “buy” rating and increased their target price for the stock from $76.00 to $85.00 in a report on Friday, November 4th. They noted that the move was a valuation call. Goldman Sachs Group Inc. upgraded Global Payments from a “neutral” rating to a “buy” rating and increased their target price for the stock from $80.00 to $88.00 in a report on Thursday, September 15th. Finally, Barclays PLC increased their target price on Global Payments from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, September 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and an average price target of $78.96.
Global Payments (NYSE:GPN) traded down 0.76% during trading on Monday, reaching $71.54. 1,110,746 shares of the company’s stock traded hands. Global Payments has a 12 month low of $51.29 and a 12 month high of $79.93. The firm has a 50 day moving average price of $72.06 and a 200-day moving average price of $74.42. The firm has a market cap of $11.00 billion, a PE ratio of 36.82 and a beta of 1.10.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, October 5th. The company reported $0.86 EPS for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.03. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. The business earned $939.50 million during the quarter. During the same quarter in the prior year, the company earned $0.79 EPS. Global Payments’s quarterly revenue was up 52.2% on a year-over-year basis. On average, analysts forecast that Global Payments will post $3.51 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, November 25th. Stockholders of record on Friday, November 11th were issued a dividend of $0.01 per share. The ex-dividend date was Tuesday, November 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.06%. Global Payments’s dividend payout ratio is presently 2.06%.
In other news, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $73.22, for a total transaction of $43,932.00. Following the transaction, the director now directly owns 44,411 shares of the company’s stock, valued at $3,251,773.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the firm’s stock in a transaction that occurred on Monday, September 19th. The stock was sold at an average price of $74.73, for a total transaction of $485,745.00. Following the transaction, the director now directly owns 349,063 shares in the company, valued at $26,085,477.99. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in the company. Panagora Asset Management Inc. boosted its position in shares of Global Payments by 55.1% in the first quarter. Panagora Asset Management Inc. now owns 192,358 shares of the company’s stock valued at $12,561,000 after buying an additional 68,319 shares in the last quarter. Arizona State Retirement System boosted its position in shares of Global Payments by 5.5% in the first quarter. Arizona State Retirement System now owns 70,989 shares of the company’s stock valued at $4,636,000 after buying an additional 3,700 shares in the last quarter. Boothbay Fund Management LLC boosted its position in shares of Global Payments by 21.2% in the first quarter. Boothbay Fund Management LLC now owns 8,363 shares of the company’s stock valued at $546,000 after buying an additional 1,463 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Global Payments by 16.1% in the second quarter. Fulton Bank N.A. now owns 8,200 shares of the company’s stock worth $586,000 after buying an additional 1,140 shares during the period. Finally, Raymond James Trust N.A. purchased a new position in shares of Global Payments during the second quarter worth about $250,000. 94.28% of the stock is currently owned by institutional investors.
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.