Global Payments (NYSE:GPN) Now Covered by Compass Point

Research analysts at Compass Point began coverage on shares of Global Payments (NYSE:GPN) in a research note issued to investors on Wednesday, The Fly reports. The firm set a “buy” rating on the business services provider’s stock.

A number of other equities analysts have also commented on the stock. Rosenblatt Securities raised their price objective on shares of Global Payments from $183.00 to $198.00 and gave the company a “buy” rating in a research report on Monday, August 3rd. Sanford C. Bernstein initiated coverage on shares of Global Payments in a research report on Tuesday, August 18th. They issued an “outperform” rating and a $201.00 price objective for the company. Guggenheim raised their price objective on shares of Global Payments from $191.00 to $212.00 and gave the company a “buy” rating in a research report on Tuesday, August 4th. Morgan Stanley lifted their target price on shares of Global Payments from $161.00 to $172.00 and gave the company an “equal weight” rating in a research report on Tuesday, August 11th. Finally, JPMorgan Chase & Co. lifted their target price on shares of Global Payments from $185.00 to $200.00 and gave the company an “overweight” rating in a research report on Monday, August 17th. Six equities research analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $200.06.

NYSE:GPN traded up $2.64 on Wednesday, reaching $175.79. 1,433,229 shares of the company’s stock were exchanged, compared to its average volume of 2,120,728. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.03 and a quick ratio of 1.03. The firm has a market cap of $52.60 billion, a price-to-earnings ratio of 118.78, a P/E/G ratio of 1.36 and a beta of 1.10. Global Payments has a 52 week low of $105.54 and a 52 week high of $209.62. The stock has a fifty day simple moving average of $173.11 and a 200-day simple moving average of $167.60.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Monday, August 3rd. The business services provider reported $1.31 EPS for the quarter, beating analysts’ consensus estimates of $1.04 by $0.27. Global Payments had a net margin of 5.68% and a return on equity of 5.61%. The company had revenue of $1.52 billion during the quarter, compared to analyst estimates of $1.47 billion. During the same period last year, the business earned $1.51 earnings per share. Global Payments’s revenue was up 71.2% compared to the same quarter last year. As a group, sell-side analysts predict that Global Payments will post 5.99 EPS for the current year.

In related news, Director William I. Jacobs sold 500 shares of Global Payments stock in a transaction on Wednesday, July 15th. The shares were sold at an average price of $166.25, for a total value of $83,125.00. Following the transaction, the director now directly owns 24,893 shares of the company’s stock, valued at $4,138,461.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William I. Jacobs sold 7,224 shares of Global Payments stock in a transaction on Friday, September 4th. The stock was sold at an average price of $174.90, for a total transaction of $1,263,477.60. Following the completion of the transaction, the director now directly owns 32,117 shares in the company, valued at $5,617,263.30. The disclosure for this sale can be found here. 0.88% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of GPN. Wellington Management Group LLP increased its position in Global Payments by 49.3% during the 1st quarter. Wellington Management Group LLP now owns 14,221,002 shares of the business services provider’s stock valued at $2,051,094,000 after purchasing an additional 4,693,451 shares during the period. Lone Pine Capital LLC raised its position in Global Payments by 52.7% in the 1st quarter. Lone Pine Capital LLC now owns 4,954,572 shares of the business services provider’s stock worth $714,598,000 after buying an additional 1,709,354 shares during the last quarter. Nuveen Asset Management LLC raised its position in Global Payments by 59.8% in the 1st quarter. Nuveen Asset Management LLC now owns 1,990,695 shares of the business services provider’s stock worth $287,118,000 after buying an additional 745,294 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in Global Payments by 99.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 1,452,546 shares of the business services provider’s stock worth $209,501,000 after buying an additional 725,797 shares during the last quarter. Finally, Swedbank raised its position in Global Payments by 60.6% in the 1st quarter. Swedbank now owns 1,507,600 shares of the business services provider’s stock worth $217,441,000 after buying an additional 569,000 shares during the last quarter. 86.81% of the stock is currently owned by institutional investors and hedge funds.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.

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