Zacks Investment Research downgraded shares of Global Payments Inc. (NYSE:GPN) from a buy rating to a hold rating in a report released on Tuesday.

According to Zacks, “Global Payments' shares have outperformed its industry year to date. The company’s investment in future growth, efforts to progress with the Heartland integration and successful refinancing of its credit facilities bode well for the long term. The company is witnessing sustained growth in business from Europe, Asia Pacific and North America. Global Payments earnings beat the Zacks Consensus Estimate and improved 29% year over year. Better-than-expected earnings were backed by higher revenues across its marketsFollowing the company’s strong third-quarter earnings, Heartland integration as well as the recent refinancing, the company raised its projections for 2017. Nevertheless, the company suffers from high debt and exposure to currency volatility.”

GPN has been the subject of several other reports. BidaskClub downgraded Global Payments from a buy rating to a hold rating in a research report on Saturday, August 26th. Cowen and Company reiterated a buy rating and issued a $102.00 target price on shares of Global Payments in a research report on Friday, September 8th. KeyCorp reiterated a buy rating and issued a $110.00 target price on shares of Global Payments in a research report on Friday, October 27th. Bank of America Corporation assumed coverage on Global Payments in a research report on Tuesday, September 12th. They set a buy rating and a $110.00 price objective for the company. Finally, Wells Fargo & Company upgraded Global Payments from a market perform rating to an outperform rating and raised their price objective for the stock from $90.00 to $110.00 in a research report on Friday, August 4th. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the stock. The company currently has a consensus rating of Buy and a consensus target price of $105.01.

Global Payments (GPN) traded down $0.19 during trading hours on Tuesday, reaching $100.03. The company had a trading volume of 623,234 shares, compared to its average volume of 1,121,023. The firm has a market capitalization of $15,950.00, a price-to-earnings ratio of 27.24, a PEG ratio of 1.86 and a beta of 1.14. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.27. Global Payments has a fifty-two week low of $65.91 and a fifty-two week high of $104.83.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, beating the consensus estimate of $1.03 by $0.12. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $917.31 million. Global Payments had a return on equity of 18.50% and a net margin of 7.14%. Global Payments’s revenue was up 9.1% compared to the same quarter last year. During the same period last year, the firm posted $0.89 earnings per share. sell-side analysts anticipate that Global Payments will post 3.81 EPS for the current fiscal year.

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The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Thursday, December 14th. Global Payments’s payout ratio is currently 2.27%.

In related news, Director William I. Jacobs sold 600 shares of the stock in a transaction dated Wednesday, September 13th. The stock was sold at an average price of $98.00, for a total transaction of $58,800.00. Following the completion of the sale, the director now directly owns 40,075 shares in the company, valued at approximately $3,927,350. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Guido Francesco Sacchi sold 25,927 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $95.22, for a total value of $2,468,768.94. Following the sale, the executive vice president now owns 34,622 shares of the company’s stock, valued at $3,296,706.84. The disclosure for this sale can be found here. Insiders sold a total of 71,555 shares of company stock valued at $6,951,810 over the last quarter. Company insiders own 0.93% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Sun Life Financial INC raised its position in shares of Global Payments by 15,728.6% in the 2nd quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock worth $100,000 after acquiring an additional 1,101 shares in the last quarter. Thompson Davis & CO. Inc. increased its position in Global Payments by 0.8% during the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock valued at $108,000 after buying an additional 10 shares in the last quarter. Intellectus Partners LLC purchased a new stake in Global Payments during the 2nd quarter valued at $128,000. Commonwealth Bank of Australia boosted its stake in Global Payments by 13.6% during the 2nd quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock valued at $131,000 after purchasing an additional 176 shares during the last quarter. Finally, Stephens Inc. AR purchased a new stake in Global Payments during the 2nd quarter valued at $143,000. 97.90% 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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