Global Payments Inc. (GPN) Rating Increased to Buy at Zacks Investment Research
Global Payments Inc. (NYSE:GPN) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Thursday. The firm currently has a $78.00 price objective on the stock. Zacks Investment Research’s target price would suggest a potential upside of 10.31% 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. “
Several other equities research analysts have also commented on the stock. William Blair reiterated an “outperform” rating on shares of Global Payments in a research note on Tuesday, September 27th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $83.00 price target on shares of Global Payments in a research note on Friday, July 29th. Oppenheimer Holdings Inc. reiterated an “outperform” rating and set a $85.00 price target on shares of Global Payments in a research note on Wednesday, September 28th. Robert W. Baird reiterated an “outperform” rating and set a $85.00 price target on shares of Global Payments in a research note on Tuesday, September 6th. Finally, Stifel Nicolaus lifted their price target on shares of Global Payments from $75.00 to $76.00 and gave the stock a “hold” rating in a research note on Friday, October 7th. One analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have issued a buy rating to the company’s stock. Global Payments presently has an average rating of “Buy” and an average target price of $78.88.
Shares of Global Payments (NYSE:GPN) opened at 70.71 on Thursday. The stock’s 50 day moving average is $73.94 and its 200 day moving average is $74.60. The stock has a market capitalization of $10.87 billion, a price-to-earnings ratio of 36.39 and a beta of 1.10. Global Payments has a 1-year low of $51.29 and a 1-year high of $79.93.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, October 5th. The company reported $0.86 earnings per share 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 had revenue of $939.50 million for the quarter. During the same quarter in the previous year, the business posted $0.79 earnings per share. Global Payments’s revenue for the quarter was up 52.2% compared to the same quarter last year. On average, equities analysts forecast that Global Payments will post $3.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.06%. The ex-dividend date of this dividend is Tuesday, November 8th. Global Payments’s dividend payout ratio is presently 2.06%.
In other news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the business’s stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $74.73, for a total value of $485,745.00. Following the completion of the transaction, the director now owns 349,063 shares of the company’s stock, valued at $26,085,477.99. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Guido Francesco Sacchi sold 11,102 shares of the business’s stock in a transaction that occurred on Tuesday, October 11th. The shares were sold at an average price of $73.80, for a total transaction of $819,327.60. Following the completion of the transaction, the executive vice president now directly owns 23,904 shares of the company’s stock, valued at approximately $1,764,115.20. 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 stock. Municipal Employees Retirement System of Michigan raised its position in Global Payments by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,870 shares of the company’s stock worth $374,000 after buying an additional 20 shares in the last quarter. Independent Portfolio Consultants Inc. raised its position 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 period. Ranger Investment Management L.P. raised its position in shares of Global Payments by 0.4% in the second quarter. Ranger Investment Management L.P. now owns 17,030 shares of the company’s stock valued at $1,216,000 after buying an additional 60 shares during the period. Mackenzie Financial Corp raised its position in shares of Global Payments by 1.8% in the third quarter. Mackenzie Financial Corp now owns 4,559 shares of the company’s stock valued at $350,000 after buying an additional 81 shares during the period. Finally, Highland Capital Management LLC raised its position in shares of Global Payments by 0.6% in the third quarter. Highland Capital Management LLC now owns 13,482 shares of the company’s stock valued at $1,035,000 after buying an additional 82 shares during the period. 96.63% of the stock is 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.
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