Global Payments Inc. (GPN) Downgraded by Zacks Investment Research to “Hold”
Global Payments Inc. (NYSE:GPN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Tuesday.
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. “
GPN has been the topic of several other reports. Robert W. Baird reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Global Payments in a research report on Tuesday, September 6th. William Blair reissued an “outperform” rating on shares of Global Payments in a report on Tuesday, September 27th. Compass Point raised Global Payments from a “neutral” rating to a “buy” rating and set a $77.00 target price on the stock in a report on Tuesday, November 15th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $85.00 target price on shares of Global Payments in a report on Wednesday, September 28th. Finally, Stifel Nicolaus increased their target price on Global Payments from $75.00 to $76.00 and gave the company a “hold” rating in a report on Friday, October 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and eighteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $78.96.
Shares of Global Payments (NYSE:GPN) traded down 1.33% on Tuesday, hitting $70.59. The stock had a trading volume of 1,119,282 shares. Global Payments has a 52 week low of $51.29 and a 52 week 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 stock has a market capitalization of $10.85 billion, a P/E ratio of 36.33 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 consensus estimate of $0.83 by $0.03. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The company had revenue of $939.50 million for the quarter. During the same period last year, the business earned $0.79 earnings per share. The company’s quarterly revenue was up 52.2% on a year-over-year basis. Equities analysts expect that Global Payments will post $3.51 earnings per share for the current fiscal year.
The firm also recently declared 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 dividend on an annualized basis and a dividend yield of 0.06%. The ex-dividend date was Tuesday, November 8th. Global Payments’s dividend payout ratio is currently 2.06%.
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In related news, EVP Guido Francesco Sacchi sold 11,102 shares of the firm’s 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 completion of the sale, the executive vice president now directly owns 23,904 shares of the company’s stock, valued at approximately $1,764,115.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $73.62, for a total value of $44,172.00. Following the sale, the director now directly owns 43,516 shares of the company’s stock, valued at $3,203,647.92. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Large investors have recently modified their holdings of the company. Catalyst Capital Advisors LLC purchased a new stake in shares of Global Payments during the third quarter worth $100,000. Acrospire Investment Management LLC raised its stake in shares of Global Payments by 77.8% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the company’s stock worth $114,000 after buying an additional 700 shares during the period. Financial Architects Inc raised its stake in shares of Global Payments by 1,305.2% in the second quarter. Financial Architects Inc now owns 1,616 shares of the company’s stock worth $115,000 after buying an additional 1,501 shares during the period. PineBridge Investments L.P. purchased a new stake in shares of Global Payments during the second quarter worth $139,000. Finally, Global X Management Co. LLC raised its stake in shares of Global Payments by 90.7% in the third quarter. Global X Management Co. LLC now owns 1,943 shares of the company’s stock worth $149,000 after buying an additional 924 shares during the period. 94.28% of the stock is owned by hedge funds and other institutional investors.
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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