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 research report issued to clients and investors 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. “
Other analysts also recently issued research reports about the stock. Wedbush reissued 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 reaffirmed a “buy” rating and set a $85.00 price objective (up previously from $79.00) on shares of Global Payments in a research report on Thursday, October 6th. Stifel Nicolaus raised shares of Global Payments from a “hold” rating to a “buy” rating and raised their price objective for the stock from $76.00 to $85.00 in a research report on Friday, November 4th. They noted that the move was a valuation call. Barclays PLC raised their price objective on shares of Global Payments from $75.00 to $85.00 and gave the stock an “equal weight” rating in a research report on Friday, September 30th. Finally, Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $85.00 price objective on shares of Global Payments in a research report on Friday, October 7th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and eighteen have assigned a buy rating to the stock. Global Payments has a consensus rating of “Buy” and an average target price of $78.96.
Global Payments (NYSE:GPN) traded down 1.33% during mid-day trading on Tuesday, reaching $70.59. 1,119,282 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 stock has a market cap of $10.85 billion, a P/E ratio of 36.33 and a beta of 1.10. The company has a 50 day moving average price of $72.06 and a 200-day moving average price of $74.42.
Global Payments (NYSE:GPN) last released its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The business earned $939.50 million during the quarter. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. The business’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same period in the prior year, the company posted $0.79 EPS. On average, analysts anticipate that Global Payments will post $3.51 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, November 25th. Investors of record on Friday, November 11th were paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.06%. The ex-dividend date of this dividend was Tuesday, November 8th. Global Payments’s dividend payout ratio is currently 2.06%.
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In other Global Payments news, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $73.62, for a total transaction of $44,172.00. Following the completion of the transaction, the director now owns 43,516 shares of the company’s stock, valued at approximately $3,203,647.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of Global Payments stock in a transaction dated Tuesday, October 18th. The shares were sold at an average price of $73.89, for a total value of $480,285.00. Following the transaction, the director now directly owns 343,752 shares of the company’s stock, valued at approximately $25,399,835.28. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Capital Fund Management S.A. raised its position in Global Payments by 163.4% in the second quarter. Capital Fund Management S.A. now owns 464,283 shares of the company’s stock worth $33,141,000 after buying an additional 288,045 shares during the last quarter. Bank of Montreal Can bought a new position in Global Payments during the second quarter worth $7,668,000. Quantbot Technologies LP bought a new position in Global Payments during the second quarter worth $5,365,000. Voloridge Investment Management LLC raised its position in Global Payments by 231.0% in the second quarter. Voloridge Investment Management LLC now owns 176,737 shares of the company’s stock worth $12,615,000 after buying an additional 123,337 shares during the last quarter. Finally, Redwood Investments LLC raised its position in Global Payments by 20.6% in the second quarter. Redwood Investments LLC now owns 321,948 shares of the company’s stock worth $22,981,000 after buying an additional 55,048 shares during the last quarter. 94.28% of the stock is owned by institutional investors and hedge funds.
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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