Global Payments Inc. (GPN) Upgraded 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 research report 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 analysts have also recently issued reports on the stock. Goldman Sachs Group Inc. upgraded shares of Global Payments from a neutral rating to a buy rating and upped their target price for the company from $80.00 to $88.00 in a research report on Thursday, September 15th. JPMorgan Chase & Co. restated a buy rating and set a $83.00 target price on shares of Global Payments in a research report on Friday, July 29th. Wedbush restated an outperform rating and set a $85.00 target price on shares of Global Payments in a research report on Thursday, September 8th. Deutsche Bank AG restated a buy rating and set a $79.00 target price (up from $72.00) on shares of Global Payments in a research report on Tuesday, July 12th. Finally, Keefe, Bruyette & Woods upped their target price on shares of Global Payments from $88.00 to $90.00 and gave the company an outperform rating in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have issued a buy rating to the company. Global Payments presently has an average rating of Buy and an average price target of $77.75.
Shares of Global Payments (NYSE:GPN) opened at 77.12 on Monday. The company has a 50 day moving average price of $75.51 and a 200 day moving average price of $73.70. Global Payments has a 1-year low of $51.29 and a 1-year high of $79.93. The company has a market capitalization of $11.85 billion, a PE ratio of 37.80 and a beta of 1.09.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.73 EPS for the quarter, hitting the consensus estimate of $0.73. The business had revenue of $747.10 million for the quarter, compared to analysts’ expectations of $568.81 million. Global Payments had a net margin of 9.37% and a return on equity of 27.99%. The business’s quarterly revenue was up 5.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.22 EPS. Equities analysts predict that Global Payments will post $3.47 EPS for the current fiscal year.
In related news, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $75.80, for a total transaction of $45,480.00. Following the transaction, the director now directly owns 44,716 shares in the company, valued at $3,389,472.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David E. Mangum sold 88,938 shares of the business’s stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $75.07, for a total transaction of $6,676,575.66. Following the transaction, the insider now owns 172,060 shares in the company, valued at $12,916,544.20. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
Institutional investors have recently bought and sold shares of the company. 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 worth $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 worth $115,000 after buying an additional 1,501 shares during the last quarter. PineBridge Investments L.P. acquired a new position in Global Payments during the second quarter worth $139,000. IFP Advisors Inc raised its position in Global Payments by 39.1% in the second quarter. IFP Advisors Inc now owns 2,263 shares of the company’s stock worth $162,000 after buying an additional 636 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. acquired a new position in Global Payments during the second quarter worth $168,000. Hedge funds and other institutional investors own 96.56% of the company’s stock.
About Global Payments
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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