Cowen and Company Reaffirms “Buy” Rating for Global Payments Inc. (GPN)
Global Payments Inc. (NYSE:GPN)‘s stock had its “buy” rating restated by investment analysts at Cowen and Company in a report released on Friday. They currently have a $102.00 price objective on the business services provider’s stock. Cowen and Company’s price objective would suggest a potential upside of 7.27% from the stock’s current price.
Other analysts have also issued research reports about the stock. Robert W. Baird restated a “buy” rating and set a $106.00 price target on shares of Global Payments in a research report on Tuesday. Keefe, Bruyette & Woods restated a “buy” rating on shares of Global Payments in a research report on Monday, May 15th. BMO Capital Markets raised their price target on shares of Global Payments from $91.00 to $93.00 and gave the company an “outperform” rating in a research report on Monday, May 15th. Royal Bank Of Canada dropped their price target on shares of Global Payments from $103.00 to $90.00 and set an “outperform” rating on the stock in a research report on Friday, August 4th. Finally, Stifel Nicolaus restated a “buy” rating and set a $103.00 price target (up previously from $102.00) on shares of Global Payments in a research report on Friday, August 4th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the company’s stock. Global Payments presently has an average rating of “Buy” and an average price target of $96.33.
Shares of Global Payments (GPN) traded down 0.94% on Friday, reaching $95.09. 1,047,840 shares of the company traded hands. The stock has a market capitalization of $14.50 billion, a price-to-earnings ratio of 73.77 and a beta of 1.11. The company has a 50-day moving average of $94.87 and a 200-day moving average of $87.47. Global Payments has a 1-year low of $64.63 and a 1-year high of $97.99.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.07. The company had revenue of $847.90 million for the quarter, compared to analyst estimates of $837.76 million. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The firm’s revenue was up 18.4% on a year-over-year basis. During the same quarter last year, the business earned $0.76 earnings per share. Analysts anticipate that Global Payments will post $3.95 earnings per share for the current fiscal year.
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In other Global Payments news, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction dated Monday, June 19th. The shares were sold at an average price of $89.91, for a total transaction of $53,946.00. Following the transaction, the director now directly owns 48,493 shares of the company’s stock, valued at $4,360,005.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, EVP Guido Francesco Sacchi sold 25,927 shares of Global Payments stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $95.22, for a total transaction of $2,468,768.94. Following the transaction, the executive vice president now directly owns 34,622 shares in the company, valued at $3,296,706.84. The disclosure for this sale can be found here. Over the last three months, insiders sold 133,549 shares of company stock worth $12,611,401. Insiders own 0.93% of the company’s stock.
A number of hedge funds have recently modified their holdings of the business. Thompson Davis & CO. Inc. raised 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 purchasing an additional 10 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its stake in Global Payments by 0.3% during the second quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,329 shares of the business services provider’s stock worth $1,023,000 after purchasing an additional 34 shares during the period. Xact Kapitalforvaltning AB raised its stake in Global Payments by 0.3% during the second quarter. Xact Kapitalforvaltning AB now owns 11,990 shares of the business services provider’s stock worth $1,083,000 after purchasing an additional 41 shares during the period. First Personal Financial Services raised its stake in Global Payments by 1.7% during the second quarter. First Personal Financial Services now owns 2,875 shares of the business services provider’s stock worth $260,000 after purchasing an additional 47 shares during the period. Finally, Keybank National Association OH raised its stake in Global Payments by 1.5% during the second quarter. Keybank National Association OH now owns 3,792 shares of the business services provider’s stock worth $342,000 after purchasing an additional 56 shares during the period. 97.87% of the stock is currently owned by institutional investors.
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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