Global Payments (GPN) Lifted to “Buy” at ValuEngine

Global Payments (NYSE:GPN) was upgraded by research analysts at ValuEngine from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Wednesday.

GPN has been the topic of a number of other reports. Robert W. Baird upped their price objective on Global Payments from $136.00 to $142.00 and gave the company an “outperform” rating in a report on Wednesday, October 17th. Goldman Sachs Group raised Global Payments from a “neutral” rating to a “buy” rating and upped their price objective for the company from $122.00 to $128.00 in a report on Tuesday, January 8th. Zacks Investment Research lowered Global Payments from a “hold” rating to a “sell” rating in a report on Wednesday, January 9th. Nomura reaffirmed a “sell” rating and issued a $91.00 price objective (down from $97.00) on shares of Global Payments in a report on Tuesday, December 18th. Finally, Piper Jaffray Companies cut their target price on Global Payments from $155.00 to $141.00 and set an “overweight” rating for the company in a research report on Friday, December 21st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the stock. The stock currently has an average rating of “Buy” and an average price target of $131.26.

NYSE GPN traded up $5.33 on Wednesday, reaching $122.75. The stock had a trading volume of 2,699,444 shares, compared to its average volume of 1,541,511. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.03. Global Payments has a 1-year low of $94.81 and a 1-year high of $129.25. The firm has a market cap of $18.18 billion, a price-to-earnings ratio of 30.61, a P/E/G ratio of 1.12 and a beta of 1.15.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, February 13th. The business services provider reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.01. Global Payments had a return on equity of 18.38% and a net margin of 17.48%. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the firm posted $1.07 EPS. The company’s revenue for the quarter was up 12.3% on a year-over-year basis. On average, equities analysts anticipate that Global Payments will post 4.88 earnings per share for the current fiscal year.

In other news, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of the company’s stock in a transaction on Monday, January 14th. The stock was sold at an average price of $110.82, for a total transaction of $332,460.00. Following the completion of the sale, the director now directly owns 72,399 shares in the company, valued at approximately $8,023,257.18. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Several hedge funds have recently made changes to their positions in GPN. Boston Partners bought a new stake in shares of Global Payments during the 4th quarter worth $122,196,000. FMR LLC lifted its position in shares of Global Payments by 12.5% during the 2nd quarter. FMR LLC now owns 9,712,626 shares of the business services provider’s stock worth $1,082,860,000 after buying an additional 1,082,153 shares during the last quarter. Marshall Wace North America L.P. lifted its position in shares of Global Payments by 43.5% during the 3rd quarter. Marshall Wace North America L.P. now owns 2,162,102 shares of the business services provider’s stock worth $275,452,000 after buying an additional 655,495 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Global Payments by 14.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,520,530 shares of the business services provider’s stock worth $575,914,000 after buying an additional 581,025 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its position in shares of Global Payments by 9.0% during the 4th quarter. Massachusetts Financial Services Co. MA now owns 5,447,043 shares of the business services provider’s stock worth $561,752,000 after buying an additional 449,751 shares during the last quarter. Institutional investors and hedge funds own 98.47% of the company’s stock.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, online reporting, industry compliance, and payment card industry security services.

Featured Story: Average Daily Trade Volume – What It Means In Stock Trading

To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for Global Payments (NYSE:GPN)

Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit