Keefe, Bruyette & Woods Reaffirms Buy Rating for Global Payments (GPN)

Global Payments (NYSE:GPN)‘s stock had its “buy” rating reaffirmed by equities researchers at Keefe, Bruyette & Woods in a report released on Friday. They presently have a $122.00 target price on the business services provider’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 21.56% from the company’s previous close.

A number of other brokerages also recently issued reports on GPN. Morgan Stanley lifted their price objective on shares of Global Payments from $98.00 to $106.00 and gave the stock an “equal weight” rating in a research report on Thursday, November 2nd. Stifel Nicolaus reissued a “buy” rating and set a $121.00 target price (up previously from $103.00) on shares of Global Payments in a research report on Thursday, November 9th. Credit Suisse Group reissued an “outperform” rating and set a $108.00 target price (up previously from $100.00) on shares of Global Payments in a research report on Thursday, November 9th. They noted that the move was a valuation call. BMO Capital Markets boosted their target price on shares of Global Payments from $103.00 to $115.00 and gave the stock a “positive” rating in a research report on Thursday, November 9th. Finally, Piper Jaffray Companies boosted their target price on shares of Global Payments to $105.00 and gave the stock a “neutral” rating in a research report on Wednesday, November 8th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have given a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $106.15.

Global Payments (NYSE GPN) opened at $100.36 on Friday. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.14 and a quick ratio of 1.14. Global Payments has a 12-month low of $68.98 and a 12-month high of $104.90. The stock has a market cap of $16,187.96, a P/E ratio of 56.07, a PEG ratio of 1.87 and a beta of 1.11.

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

In related news, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction on Monday, December 18th. The shares were sold at an average price of $101.55, for a total value of $60,930.00. Following the completion of the transaction, the director now directly owns 44,893 shares in the company, valued at approximately $4,558,884.15. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the business’s stock in a transaction on Thursday, October 12th. The shares were sold at an average price of $99.82, for a total transaction of $2,595,320.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 29,600 shares of company stock valued at $2,954,042. Company insiders own 0.93% of the company’s stock.

A number of large investors have recently bought and sold shares of GPN. Sun Life Financial INC boosted its stake in Global Payments by 15,728.6% during the second quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock worth $100,000 after buying an additional 1,101 shares during the period. Thompson Davis & CO. Inc. boosted its stake in Global Payments by 0.8% during the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after buying an additional 10 shares during the period. Intellectus Partners LLC purchased a new position in Global Payments during the second quarter worth about $128,000. Commonwealth Bank of Australia boosted its stake in Global Payments by 13.6% during the second quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock worth $131,000 after buying an additional 176 shares during the period. Finally, Stephens Inc. AR purchased a new position in Global Payments during the second quarter worth about $143,000. Institutional investors own 98.90% of the company’s stock.

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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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