Global Payments Inc. (GPN) Cut to Hold at Zacks Investment Research

Global Payments Inc. (NYSE:GPN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.

According to Zacks, “Global Payments' shares have outperformed its industry year to date. The company’s investment in future growth, efforts to progress with the Heartland integration and successful refinancing of its credit facilities bode well for the long term. The company is witnessing sustained growth in business from Europe, Asia Pacific and North America. Global Payments earnings beat the Zacks Consensus Estimate and improved 29% year over year. Better-than-expected earnings were backed by higher revenues across its marketsFollowing the company’s strong third-quarter earnings, Heartland integration as well as the recent refinancing, the company raised its projections for 2017. Nevertheless, the company suffers from high debt and exposure to currency volatility.”

Other equities analysts have also recently issued reports about the stock. Robert W. Baird restated a “buy” rating and issued a $106.00 price target on shares of Global Payments in a research report on Tuesday, September 5th. Stifel Nicolaus restated a “buy” rating and issued a $103.00 price target (up from $102.00) on shares of Global Payments in a research report on Friday, August 4th. Royal Bank Of Canada reduced their price objective on shares of Global Payments from $103.00 to $90.00 and set an “outperform” rating on the stock in a research note on Friday, August 4th. Bank of America Corporation assumed coverage on shares of Global Payments in a research note on Tuesday, September 12th. They issued a “buy” rating and a $110.00 price objective on the stock. Finally, Keefe, Bruyette & Woods reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Global Payments in a research note on Thursday, August 3rd. Two analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have given a buy rating to the company’s stock. Global Payments currently has a consensus rating of “Buy” and a consensus target price of $104.56.

Shares of Global Payments (NYSE:GPN) traded up $0.75 during midday trading on Tuesday, reaching $99.60. 1,367,000 shares of the company’s stock traded hands, compared to its average volume of 1,124,650. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.14 and a current ratio of 1.14. Global Payments has a 1 year low of $64.63 and a 1 year high of $104.83. The firm has a market cap of $15,731.23, a PE ratio of 26.57, a P/E/G ratio of 1.81 and a beta of 1.14.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.03 by $0.12. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $917.31 million. During the same period in the prior year, the company posted $0.89 EPS. The company’s revenue was up 9.1% on a year-over-year basis. analysts expect that Global Payments will post 3.75 EPS for the current year.

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In other news, Director Alan M. Silberstein sold 600 shares of the stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $93.74, for a total value of $56,244.00. Following the completion of the sale, the director now owns 47,293 shares in the company, valued at $4,433,245.82. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Guido Francesco Sacchi sold 25,927 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $95.22, for a total transaction of $2,468,768.94. Following the completion of the sale, the executive vice president now owns 34,622 shares of the company’s stock, valued at approximately $3,296,706.84. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,555 shares of company stock worth $6,949,062. Corporate insiders own 0.93% of the company’s stock.

Several hedge funds have recently made changes to their positions in the company. Thompson Davis & CO. Inc. raised its holdings in shares of Global Payments by 0.8% in the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock valued at $108,000 after purchasing an additional 10 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS increased its holdings in 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 buying an additional 34 shares during the last quarter. Xact Kapitalforvaltning AB increased its holdings in 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 buying an additional 41 shares during the last quarter. First Personal Financial Services increased its holdings in 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 buying an additional 47 shares during the last quarter. Finally, Keybank National Association OH increased its holdings in 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 buying an additional 56 shares during the last quarter. Institutional investors own 97.90% of the company’s stock.

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.

Analyst Recommendations for Global Payments (NYSE:GPN)

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