Global Payments Inc. (GPN) Earns “Outperform” Rating from Credit Suisse Group
Global Payments Inc. (NYSE:GPN)‘s stock had its “outperform” rating restated by research analysts at Credit Suisse Group in a research report issued to clients and investors on Thursday, The Fly reports. They presently have a $108.00 price objective on the business services provider’s stock, up from their previous price objective of $100.00. Credit Suisse Group’s target price would indicate a potential upside of 6.25% from the company’s current price. The analysts noted that the move was a valuation call.
Other analysts also recently issued reports about the company. Robert W. Baird restated a “buy” rating and set a $106.00 price objective on shares of Global Payments in a report on Tuesday, September 5th. Piper Jaffray Companies upped their price objective on Global Payments to $105.00 and gave the stock a “neutral” rating in a report on Wednesday. Stifel Nicolaus restated a “buy” rating and set a $121.00 price objective (up from $103.00) on shares of Global Payments in a report on Thursday. Royal Bank Of Canada dropped their price objective on Global Payments from $103.00 to $90.00 and set an “outperform” rating for the company in a report on Friday, August 4th. Finally, Bank of America Corporation began coverage on Global Payments in a report on Tuesday, September 12th. They set a “buy” rating and a $110.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-two have assigned a buy rating to the stock. Global Payments currently has an average rating of “Buy” and an average target price of $103.16.
Global Payments (GPN) opened at $101.65 on Thursday. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 1.39. The firm has a market capitalization of $15,843.59, a price-to-earnings ratio of 30.12, a price-to-earnings-growth ratio of 1.90 and a beta of 1.14. Global Payments has a twelve month low of $64.63 and a twelve month high of $104.83.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.10 by $0.05. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $917.31 million. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. Global Payments’s revenue was up 9.1% on a year-over-year basis. During the same period in the previous year, the firm posted $0.89 EPS. equities research analysts anticipate that Global Payments will post 3.74 earnings per share for the current fiscal year.
In other news, Director Robert H. B. Baldwin, Jr. sold 5,600 shares of the stock in a transaction dated Tuesday, August 15th. The shares were sold at an average price of $94.58, for a total transaction of $529,648.00. Following the transaction, the director now owns 178,177 shares of the company’s stock, valued at $16,851,980.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William I. Jacobs sold 600 shares of the stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $94.20, for a total transaction of $56,520.00. Following the transaction, the director now directly owns 49,103 shares in the company, valued at approximately $4,625,502.60. The disclosure for this sale can be found here. Insiders have sold 77,755 shares of company stock worth $7,535,230 in the last ninety days. Corporate insiders own 0.93% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. Thompson Davis & CO. Inc. lifted its position in shares of 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 last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its position in shares of 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 last quarter. Xact Kapitalforvaltning AB lifted its position in shares of 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 last quarter. First Personal Financial Services lifted its position in shares of 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 last quarter. Finally, Keybank National Association OH lifted its position in shares of 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 last quarter. 98.10% of the stock is currently owned by institutional investors and hedge funds.
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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