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 sent to investors on Monday. They currently have $80.00 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. “
Other equities analysts also recently issued reports about the company. Robert W. Baird reiterated an outperform rating and issued a $85.00 price target on shares of Global Payments in a research note on Tuesday, September 6th. Wedbush reiterated an outperform rating and issued a $85.00 price target on shares of Global Payments in a research note on Thursday, September 8th. Goldman Sachs Group Inc. upgraded Global Payments from a neutral rating to a buy rating and lifted their price target for the stock from $80.00 to $88.00 in a research note on Thursday, September 15th. William Blair reiterated an outperform rating on shares of Global Payments in a research note on Tuesday, September 27th. Finally, Oppenheimer Holdings Inc. reiterated an outperform rating and issued a $85.00 price target on shares of Global Payments in a research note on Wednesday, September 28th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company. The stock has a consensus rating of Buy and a consensus target price of $78.96.
Global Payments (NYSE:GPN) opened at 71.54 on Monday. The firm has a market cap of $11.00 billion, a PE ratio of 36.82 and a beta of 1.10. Global Payments has a 52-week low of $51.29 and a 52-week high of $79.93. The firm’s 50-day moving average price is $72.06 and its 200 day moving average price is $74.42.
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. The company earned $939.50 million during the quarter. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The firm’s revenue was up 52.2% on a year-over-year basis. During the same quarter in the prior year, the business earned $0.79 earnings per share. On average, equities analysts anticipate that Global Payments will post $3.51 earnings per share for the current year.
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The business also recently disclosed a quarterly dividend, which was paid on Friday, November 25th. Stockholders of record on Friday, November 11th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Tuesday, November 8th. This represents a $0.04 annualized dividend and a dividend yield of 0.06%. Global Payments’s payout ratio is 2.06%.
In other news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the business’s stock in a transaction dated Monday, September 19th. The shares were sold at an average price of $74.73, for a total transaction of $485,745.00. Following the transaction, the director now owns 349,063 shares in the company, valued at approximately $26,085,477.99. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, EVP Guido Francesco Sacchi sold 11,102 shares of the business’s stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $73.80, for a total transaction of $819,327.60. Following the transaction, the executive vice president now owns 23,904 shares in the company, valued at approximately $1,764,115.20. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of GPN. Catalyst Capital Advisors LLC acquired a new stake in Global Payments during the third quarter worth $100,000. Acrospire Investment Management LLC boosted its stake 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 boosted its stake 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. Global X Management Co. LLC boosted its stake in 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 last quarter. Finally, PineBridge Investments L.P. acquired a new stake in Global Payments during the second quarter worth $139,000. Institutional investors own 94.28% of the company’s stock.
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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