Global Payments Inc. (GPN) Given “Buy” Rating at Royal Bank Of Canada
Global Payments Inc. (NYSE:GPN)‘s stock had its “buy” rating restated by investment analysts at Royal Bank Of Canada in a report issued on Wednesday. They presently have a $103.00 price target on the business services provider’s stock. Royal Bank Of Canada’s target price indicates a potential upside of 8.32% from the company’s current price.
A number of other brokerages have also weighed in on GPN. Barclays PLC raised their price objective on Global Payments from $98.00 to $105.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Credit Suisse Group restated an “outperform” rating and issued a $97.00 price objective (up previously from $91.00) on shares of Global Payments in a report on Thursday, July 13th. Robert W. Baird restated a “buy” rating and issued a $106.00 price objective on shares of Global Payments in a report on Tuesday, September 5th. Instinet restated a “reduce” rating and issued a $79.00 price objective (up previously from $70.00) on shares of Global Payments in a report on Wednesday, May 17th. Finally, Keefe, Bruyette & Woods restated a “buy” rating on shares of Global Payments in a report on Monday, May 15th. One analyst has rated the stock with a sell rating, four have issued a hold rating and nineteen have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $96.33.
Global Payments (NYSE GPN) traded down 0.94% during midday trading on Wednesday, reaching $95.09. 1,047,840 shares of the company were exchanged. The firm’s 50 day moving average price is $94.87 and its 200-day moving average price is $87.47. The stock has a market capitalization of $14.50 billion, a P/E ratio of 57.98 and a beta of 1.11. Global Payments has a 52 week low of $64.63 and a 52 week 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 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. The firm had revenue of $847.90 million for the quarter, compared to analysts’ expectations 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 for the quarter was up 18.4% compared to the same quarter last year. During the same quarter last year, the company earned $0.76 EPS. Equities analysts forecast that Global Payments will post $3.95 EPS for the current fiscal year.
In related news, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $89.91, for a total transaction of $53,946.00. Following the completion of the sale, the director now directly owns 48,493 shares of the company’s stock, valued at approximately $4,360,005.63. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William I. Jacobs sold 8,428 shares of the firm’s stock in a transaction dated Monday, August 21st. The stock was sold at an average price of $94.05, for a total value of $792,653.40. Following the sale, the director now directly owns 40,675 shares of the company’s stock, valued at $3,825,483.75. The disclosure for this sale can be found here. Insiders have sold a total of 133,549 shares of company stock valued at $12,611,401 over the last three months. Corporate insiders own 0.93% of the company’s stock.
Several large investors have recently modified their holdings of GPN. Sun Life Financial INC grew its position in Global Payments by 15,728.6% in the 2nd quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock valued at $100,000 after acquiring an additional 1,101 shares in the last quarter. Thompson Davis & CO. Inc. grew its position in Global Payments by 0.8% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock valued at $108,000 after acquiring an additional 10 shares in the last quarter. Intellectus Partners LLC acquired a new position in Global Payments in the 2nd quarter valued at about $128,000. Commonwealth Bank of Australia grew its position in Global Payments by 13.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock valued at $131,000 after acquiring an additional 176 shares in the last quarter. Finally, Stephens Inc. AR acquired a new position in Global Payments in the 2nd quarter valued at about $143,000. 97.87% of the stock is owned by hedge funds and other institutional investors.
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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