Global Payments (GPN) Rating Increased to Buy at Goldman Sachs Group

Goldman Sachs Group upgraded shares of Global Payments (NYSE:GPN) from a neutral rating to a buy rating in a report published on Tuesday morning, Marketbeat Ratings reports. The brokerage currently has $128.00 price objective on the business services provider’s stock, up from their prior price objective of $122.00.

A number of other equities analysts have also recently weighed in on the stock. Zacks Investment Research cut shares of Global Payments from a hold rating to a sell rating in a research note on Thursday, January 3rd. KeyCorp lowered their price target on shares of Global Payments from $135.00 to $130.00 and set an overweight rating on the stock in a research note on Wednesday, January 2nd. Piper Jaffray Companies lowered their price objective on shares of Global Payments from $155.00 to $141.00 and set an overweight rating on the stock in a research note on Friday, December 21st. Nomura reissued a sell rating and issued a $91.00 price objective (down from $97.00) on shares of Global Payments in a research note on Tuesday, December 18th. Finally, Barclays initiated coverage on shares of Global Payments in a research note on Wednesday, November 14th. They issued an overweight rating and a $136.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. The company presently has an average rating of Buy and a consensus price target of $125.70.

NYSE:GPN opened at $110.79 on Tuesday. The company has a debt-to-equity ratio of 1.13, a quick ratio of 1.03 and a current ratio of 1.03. Global Payments has a fifty-two week low of $94.81 and a fifty-two week high of $129.25. The firm has a market cap of $17.28 billion, a PE ratio of 27.63, a P/E/G ratio of 1.07 and a beta of 1.14.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Tuesday, October 30th. The business services provider reported $1.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.05. Global Payments had a net margin of 17.48% and a return on equity of 18.38%. The business had revenue of $857.70 million for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the company posted $1.15 EPS. The business’s revenue for the quarter was down 17.4% on a year-over-year basis. As a group, equities research analysts expect that Global Payments will post 4.89 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 28th. Investors of record on Friday, December 14th were paid a $0.01 dividend. The ex-dividend date was Thursday, December 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. Global Payments’s payout ratio is 1.00%.

In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 3,125 shares of the company’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $116.07, for a total value of $362,718.75. Following the transaction, the director now directly owns 80,324 shares in the company, valued at approximately $9,323,206.68. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of the company’s stock in a transaction dated Friday, December 14th. The shares were sold at an average price of $102.02, for a total transaction of $306,060.00. Following the completion of the transaction, the director now owns 74,899 shares in the company, valued at $7,641,195.98. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,825 shares of company stock worth $745,541. 0.98% of the stock is owned by insiders.

A number of large investors have recently added to or reduced their stakes in the business. State of Alaska Department of Revenue increased its position in Global Payments by 3.7% during the 4th quarter. State of Alaska Department of Revenue now owns 26,432 shares of the business services provider’s stock worth $2,725,000 after purchasing an additional 955 shares in the last quarter. Spence Asset Management increased its position in Global Payments by 3.2% during the 4th quarter. Spence Asset Management now owns 42,502 shares of the business services provider’s stock worth $4,383,000 after purchasing an additional 1,336 shares in the last quarter. CENTRAL TRUST Co increased its position in Global Payments by 10.2% during the 4th quarter. CENTRAL TRUST Co now owns 1,597 shares of the business services provider’s stock worth $165,000 after purchasing an additional 148 shares in the last quarter. Fulton Bank N.A. increased its position in Global Payments by 7.8% during the 4th quarter. Fulton Bank N.A. now owns 5,156 shares of the business services provider’s stock worth $531,000 after purchasing an additional 373 shares in the last quarter. Finally, Federated Investors Inc. PA increased its position in Global Payments by 121.8% during the 3rd quarter. Federated Investors Inc. PA now owns 232,443 shares of the business services provider’s stock worth $29,614,000 after purchasing an additional 127,631 shares in the last quarter. Institutional investors own 97.29% of the company’s stock.

About Global Payments

Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.

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Analyst Recommendations for Global Payments (NYSE:GPN)

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