Stephens upgraded shares of Global Payments (NYSE:GPN) from an equal weight rating to an overweight rating in a research report released on Tuesday, January 9th, MarketBeat Ratings reports. Stephens currently has $122.00 target price on the business services provider’s stock.
A number of other analysts have also recently issued reports on the company. Keefe, Bruyette & Woods reiterated a buy rating and set a $122.00 target price on shares of Global Payments in a report on Friday, December 22nd. Zacks Investment Research cut Global Payments from a buy rating to a hold rating in a report on Tuesday, November 14th. Credit Suisse Group reaffirmed an outperform rating and issued a $108.00 target price (up 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. Deutsche Bank reaffirmed a buy rating and issued a $115.00 target price (up from $100.00) on shares of Global Payments in a research report on Tuesday, October 10th. Finally, Nomura increased their target price on Global Payments from $83.00 to $85.00 and gave the stock a reduce rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company. Global Payments presently has a consensus rating of Buy and an average target price of $105.26.
Shares of Global Payments (NYSE GPN) traded up $0.40 during midday trading on Tuesday, hitting $111.78. 941,578 shares of the company’s stock traded hands, compared to its average volume of 982,089. The stock has a market cap of $17,890.79, a price-to-earnings ratio of 62.45, a P/E/G ratio of 1.67 and a beta of 1.11. 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 52 week low of $76.03 and a 52 week high of $113.26.
Global Payments (NYSE:GPN) last announced its earnings results 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 firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $917.31 million. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.89 EPS. equities research analysts forecast that Global Payments will post 3.81 earnings per share for the current year.
In other news, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction on Monday, November 20th. The stock was sold at an average price of $100.48, for a total value of $60,288.00. Following the completion of the sale, the director now directly owns 45,493 shares of the company’s stock, valued at approximately $4,571,136.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In the last quarter, insiders sold 3,600 shares of company stock valued at $366,270. Corporate insiders own 0.93% of the company’s stock.
A number of large investors have recently bought and sold shares of the business. Janus Henderson Group PLC lifted its holdings in shares of Global Payments by 11,779.8% in the second quarter. Janus Henderson Group PLC now owns 2,292,798 shares of the business services provider’s stock valued at $207,086,000 after purchasing an additional 2,273,498 shares in the last quarter. Capital International Investors bought a new stake in shares of Global Payments in the second quarter valued at about $173,900,000. Capital Guardian Trust Co. bought a new stake in shares of Global Payments in the second quarter valued at about $49,793,000. Vanguard Group Inc. lifted its holdings in shares of Global Payments by 3.0% in the second quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock valued at $1,373,930,000 after purchasing an additional 448,864 shares in the last quarter. Finally, Junto Capital Management LP bought a new stake in shares of Global Payments in the second quarter valued at about $40,248,000. 98.85% of the stock is owned by hedge funds and other institutional investors.
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About Global Payments
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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