Global Payments (NYSE:GPN) Upgraded at StockNews.com

Global Payments (NYSE:GPN) was upgraded by equities researchers at StockNews.com from a “hold” rating to a “buy” rating in a research note issued on Wednesday.

Other equities research analysts have also issued reports about the stock. Wells Fargo & Company initiated coverage on shares of Global Payments in a report on Wednesday, June 12th. They issued an “equal weight” rating and a $100.00 price objective on the stock. TD Cowen lowered their target price on shares of Global Payments from $152.00 to $125.00 and set a “buy” rating on the stock in a report on Friday, June 21st. Keefe, Bruyette & Woods decreased their target price on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a research report on Monday, July 8th. JPMorgan Chase & Co. raised their price objective on Global Payments from $111.00 to $118.00 and gave the company a “neutral” rating in a research note on Tuesday, August 20th. Finally, Stephens reiterated an “overweight” rating and issued a $130.00 price target on shares of Global Payments in a research report on Wednesday. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $140.96.

Global Payments Price Performance

NYSE GPN traded down $0.81 during trading hours on Wednesday, reaching $111.26. The company’s stock had a trading volume of 1,052,010 shares, compared to its average volume of 2,194,320. The company’s 50-day moving average is $104.93 and its two-hundred day moving average is $110.37. Global Payments has a 1-year low of $91.60 and a 1-year high of $141.77. The firm has a market capitalization of $28.40 billion, a price-to-earnings ratio of 22.08, a P/E/G ratio of 0.70 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, beating the consensus estimate of $2.90 by $0.03. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period in the prior year, the company earned $2.48 EPS. The firm’s revenue was up 4.7% compared to the same quarter last year. On average, equities analysts predict that Global Payments will post 11.07 EPS for the current year.

Insider Activity

In other news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the transaction, the chief accounting officer now owns 20,531 shares in the company, valued at approximately $2,068,087.63. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 0.98% of the stock is currently owned by company insiders.

Institutional Trading of Global Payments

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. New Covenant Trust Company N.A. purchased a new position in shares of Global Payments in the 1st quarter worth approximately $31,000. LRI Investments LLC bought a new position in shares of Global Payments during the 1st quarter valued at about $32,000. West Paces Advisors Inc. lifted its holdings in shares of Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after acquiring an additional 109 shares during the last quarter. POM Investment Strategies LLC bought a new position in shares of Global Payments during the second quarter valued at about $32,000. Finally, North Star Investment Management Corp. grew its holdings in shares of Global Payments by 154.7% in the first quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock worth $47,000 after purchasing an additional 215 shares during the last quarter. 89.76% of the stock is owned by institutional investors.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.