Global Payments Inc. (NYSE:GPN) Now Covered by Analysts at Bank of America Corporation

Bank of America Corporation began coverage on shares of Global Payments Inc. (NYSE:GPN) in a research report issued to clients and investors on Tuesday, September 12th, MarketBeat.com reports. The brokerage set a “buy” rating and a $110.00 price target on the business services provider’s stock. Bank of America Corporation’s price objective indicates a potential upside of 14.80% from the stock’s current price.

A number of other analysts have also recently weighed in on GPN. Barclays PLC restated a “buy” rating and set a $96.00 target price on shares of Global Payments in a report on Monday, May 15th. BMO Capital Markets raised their target price on shares of Global Payments from $91.00 to $93.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Credit Suisse Group raised their target price on shares of Global Payments from $86.00 to $91.00 and gave the stock an “outperform” rating in a report on Monday, May 15th. Keefe, Bruyette & Woods restated a “buy” rating on shares of Global Payments in a report on Monday, May 15th. Finally, Royal Bank Of Canada restated a “buy” rating and set a $90.00 target price on shares of Global Payments in a report on Monday, May 15th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and twenty have issued a buy rating to the company. Global Payments currently has a consensus rating of “Buy” and a consensus target price of $98.26.

Shares of Global Payments (NYSE:GPN) traded down 0.54% on Tuesday, hitting $95.82. The company had a trading volume of 810,317 shares. The stock has a market cap of $14.61 billion, a PE ratio of 74.34 and a beta of 1.11. Global Payments has a 12 month low of $64.63 and a 12 month high of $98.14. The company has a 50-day moving average of $95.36 and a 200 day moving average of $88.50.

Global Payments (NYSE:GPN) last issued its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.07. The firm had revenue of $847.90 million during the quarter, compared to analysts’ expectations of $837.76 million. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the firm posted $0.76 earnings per share. Analysts anticipate that Global Payments will post $3.95 EPS for the current fiscal year.

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In other news, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction 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 transaction, the director now owns 46,693 shares in the company, valued at approximately $4,561,906.10. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David E. Mangum sold 75,794 shares of the firm’s stock in a transaction on Thursday, August 10th. The shares were sold at an average price of $94.51, for a total transaction of $7,163,290.94. Following the transaction, the insider now owns 112,930 shares in the company, valued at approximately $10,673,014.30. The disclosure for this sale can be found here. Insiders have sold a total of 141,749 shares of company stock worth $13,421,277 in the last 90 days. 0.93% of the stock is owned by insiders.

Institutional investors have recently added to or reduced their stakes in the company. Wellington Management Group LLP grew its stake in Global Payments by 0.8% in the 1st quarter. Wellington Management Group LLP now owns 16,940,401 shares of the business services provider’s stock valued at $1,366,752,000 after buying an additional 126,712 shares during the last quarter. Vanguard Group Inc. grew its stake in Global Payments by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock valued at $1,373,930,000 after buying an additional 448,864 shares during the last quarter. FMR LLC grew its stake in Global Payments by 12.4% in the 1st quarter. FMR LLC now owns 14,898,661 shares of the business services provider’s stock valued at $1,202,023,000 after buying an additional 1,647,907 shares during the last quarter. BlackRock Inc. grew its stake in Global Payments by 3,093.1% in the 1st quarter. BlackRock Inc. now owns 13,529,075 shares of the business services provider’s stock valued at $1,091,527,000 after buying an additional 13,105,378 shares during the last quarter. Finally, State Street Corp grew its stake in Global Payments by 1.1% in the 1st quarter. State Street Corp now owns 5,989,099 shares of the business services provider’s stock valued at $483,201,000 after buying an additional 63,278 shares during the last quarter. Institutional investors and hedge funds own 97.84% of the company’s stock.

Global Payments Company Profile

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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