Global Payments (NYSE:GPN) Lowered to “Hold” at Zacks Investment Research

Global Payments (NYSE:GPN) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors on Tuesday, November 14th.

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.”

GPN has been the topic of several other research reports. Robert W. Baird raised their target price on shares of Global Payments from $106.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, September 28th. Stifel Nicolaus reissued a “buy” rating and set a $103.00 target price (up previously from $102.00) on shares of Global Payments in a research note on Friday, August 4th. Barclays raised their target price on shares of Global Payments from $98.00 to $105.00 and gave the company an “overweight” rating in a research note on Friday, August 4th. BidaskClub cut shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Saturday, August 26th. Finally, Keefe, Bruyette & Woods reissued a “buy” rating and set a $100.00 target price on shares of Global Payments in a research note on Thursday, August 3rd. Two investment analysts have rated the stock with a sell rating, five have given a hold rating and twenty-three have issued a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $105.01.

Global Payments (NYSE GPN) traded up $0.17 during mid-day trading on Tuesday, hitting $100.75. 1,090,000 shares of the company were exchanged, compared to its average volume of 1,071,269. 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 $66.08 and a 1-year high of $104.90. The firm has a market cap of $16,033.56, a PE ratio of 27.08, a PEG ratio of 1.85 and a beta of 1.12.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, topping the Zacks’ 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 business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $917.31 million. During the same quarter last year, the company earned $0.89 EPS. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. analysts expect that Global Payments will post 3.81 earnings per share for the current fiscal year.

In other news, Director Robert H. B. Baldwin, Jr. sold 8,200 shares of Global Payments stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $97.61, for a total value of $800,402.00. Following the transaction, the director now owns 172,497 shares of the company’s stock, valued at $16,837,432.17. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction that occurred on Monday, September 18th. The shares were sold at an average price of $97.70, for a total transaction of $58,620.00. Following the completion of the transaction, the director now directly owns 46,693 shares in the company, valued at approximately $4,561,906.10. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 37,800 shares of company stock worth $3,750,676. Insiders own 0.93% of the company’s stock.

A number of hedge funds have recently made changes to their positions in GPN. Sun Life Financial INC boosted its stake in Global Payments by 15,728.6% during the second quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock worth $100,000 after buying an additional 1,101 shares in the last quarter. Thompson Davis & CO. Inc. boosted its stake in 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 buying an additional 10 shares in the last quarter. Intellectus Partners LLC acquired a new stake in Global Payments during the second quarter worth $128,000. Commonwealth Bank of Australia boosted its stake in Global Payments by 13.6% during the second quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock worth $131,000 after buying an additional 176 shares in the last quarter. Finally, Stephens Inc. AR acquired a new stake in Global Payments during the second quarter worth $143,000. 98.95% of the stock is currently owned by institutional investors and hedge funds.

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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.

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