StockNews.com Upgrades Global Payments (NYSE:GPN) to “Buy”

Global Payments (NYSE:GPN) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Wednesday.

Several other brokerages have also recently issued reports on GPN. JPMorgan Chase & Co. lifted their target price on Global Payments from $111.00 to $118.00 and gave the company a “neutral” rating in a research report on Tuesday, August 20th. Stephens reaffirmed an “overweight” rating and set a $130.00 price objective on shares of Global Payments in a report on Wednesday. Royal Bank of Canada lowered their target price on shares of Global Payments from $172.00 to $158.00 and set an “outperform” rating for the company in a report on Thursday, August 8th. Keefe, Bruyette & Woods cut their price target on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Finally, TD Cowen decreased their price objective on shares of Global Payments from $152.00 to $125.00 and set a “buy” rating for the company in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $142.59.

Global Payments Price Performance

Shares of NYSE:GPN opened at $112.97 on Wednesday. The stock’s 50 day moving average is $105.25 and its 200-day moving average is $110.39. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. The firm has a market capitalization of $28.84 billion, a price-to-earnings ratio of 22.41, a PEG ratio of 0.70 and a beta of 0.98.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. The firm had revenue of $2.57 billion for the quarter, compared to analyst estimates of $2.32 billion. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same period last year, the firm earned $2.48 earnings per share. Sell-side analysts forecast that Global Payments will post 11.07 EPS for the current fiscal year.

Insider Activity

In related news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the sale, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.98% of the stock is owned by company insiders.

Institutional Trading of Global Payments

Several institutional investors and hedge funds have recently bought and sold shares of the company. New Covenant Trust Company N.A. bought a new stake in shares of Global Payments during the 1st quarter valued at about $31,000. LRI Investments LLC purchased a new position in Global Payments in the 1st quarter worth approximately $32,000. POM Investment Strategies LLC bought a new position in shares of Global Payments in the 2nd quarter worth $32,000. West Paces Advisors Inc. raised its position in shares of Global Payments by 54.5% during the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after buying an additional 109 shares in the last quarter. Finally, North Star Investment Management Corp. lifted its holdings in shares of Global Payments by 154.7% during the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after acquiring an additional 215 shares during the last quarter. 89.76% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.