Global Payments Inc. (GPN) Rating Increased to Buy at Zacks Investment Research
Zacks Investment Research upgraded shares of Global Payments Inc. (NYSE:GPN) from a hold rating to a buy rating in a report published on Monday. Zacks Investment Research currently has $86.00 price target on the stock.
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. “
Several other research analysts also recently weighed in on the company. Goldman Sachs Group Inc. upgraded Global Payments from a neutral rating to a buy rating and lifted their target price for the company from $80.00 to $88.00 in a research note on Thursday, September 15th. JPMorgan Chase & Co. reissued a buy rating and issued a $83.00 price target on shares of Global Payments in a report on Friday, July 29th. Wedbush reissued an outperform rating and issued a $85.00 price target on shares of Global Payments in a report on Thursday, September 8th. Deutsche Bank AG reissued a buy rating and issued a $79.00 price target (up from $72.00) on shares of Global Payments in a report on Tuesday, July 12th. Finally, Keefe, Bruyette & Woods lifted their price objective on Global Payments from $88.00 to $90.00 and gave the stock an outperform rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eighteen have issued a buy rating to the company’s stock. The stock presently has an average rating of Buy and a consensus target price of $77.99.
Shares of Global Payments (NYSE:GPN) opened at 78.98 on Monday. The company has a market capitalization of $12.13 billion, a P/E ratio of 38.72 and a beta of 1.09. Global Payments has a 12 month low of $51.29 and a 12 month high of $79.93. The company has a 50-day moving average price of $75.84 and a 200-day moving average price of $73.90.
Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. Global Payments had a return on equity of 27.99% and a net margin of 9.37%. The company had revenue of $939.50 million for the quarter. During the same quarter last year, the business posted $0.79 earnings per share. The company’s revenue for the quarter was up 52.2% compared to the same quarter last year. On average, analysts forecast that Global Payments will post $3.48 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 11th will be paid a dividend of $0.01 per share. The ex-dividend date is Tuesday, November 8th. This represents a $0.04 annualized dividend and a yield of 0.05%. Global Payments’s dividend payout ratio is presently 1.95%.
In other news, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $73.62, for a total value of $44,172.00. Following the completion of the sale, the director now owns 43,516 shares of the company’s stock, valued at $3,203,647.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider David E. Mangum sold 88,938 shares of the company’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $75.07, for a total value of $6,676,575.66. Following the completion of the sale, the insider now directly owns 172,060 shares of the company’s stock, valued at approximately $12,916,544.20. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Several large investors have recently modified their holdings of GPN. Triangle Securities Wealth Management bought a new stake in shares of Global Payments during the third quarter valued at $200,000. First American Bank increased its stake in shares of Global Payments by 19.7% in the third quarter. First American Bank now owns 37,433 shares of the company’s stock valued at $2,873,000 after buying an additional 6,152 shares during the last quarter. Copper Rock Capital Partners LLC increased its stake in shares of Global Payments by 10.0% in the third quarter. Copper Rock Capital Partners LLC now owns 8,649 shares of the company’s stock valued at $658,000 after buying an additional 783 shares during the last quarter. Independent Portfolio Consultants Inc. increased its stake in shares of Global Payments by 0.4% in the third quarter. Independent Portfolio Consultants Inc. now owns 6,279 shares of the company’s stock valued at $482,000 after buying an additional 25 shares during the last quarter. Finally, BNP Paribas Arbitrage SA increased its stake in shares of Global Payments by 8.3% in the third quarter. BNP Paribas Arbitrage SA now owns 245,249 shares of the company’s stock valued at $18,825,000 after buying an additional 18,864 shares during the last quarter. 96.56% of the stock is 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 in two segments: North America merchant services and International merchant services. The Company’s North America merchant services and International merchant services segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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