Global Payments (NYSE:GPN) Receives New Coverage from Analysts at BTIG Research

Research analysts at BTIG Research assumed coverage on shares of Global Payments (NYSE:GPN) in a note issued to investors on Monday, Briefing.com reports. The brokerage set a “buy” rating and a $135.00 price target on the business services provider’s stock. BTIG Research’s price target would indicate a potential upside of 20.48% from the stock’s previous close.

A number of other equities research analysts have also weighed in on GPN. Raymond James reduced their price objective on Global Payments from $155.00 to $147.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 1st. Monness Crespi & Hardt began coverage on Global Payments in a research report on Monday, October 2nd. They set a “buy” rating and a $175.00 price objective on the stock. Morgan Stanley boosted their price objective on Global Payments from $144.00 to $146.00 and gave the stock an “overweight” rating in a research report on Wednesday, August 2nd. Credit Suisse Group restated a “neutral” rating and set a $135.00 price objective on shares of Global Payments in a research report on Friday, September 8th. Finally, BMO Capital Markets reduced their price target on Global Payments from $208.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, November 1st. Two analysts have rated the stock with a sell rating, four have given a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $145.46.

Global Payments Price Performance

Global Payments stock opened at $112.05 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.09 and a current ratio of 1.09. Global Payments has a 52 week low of $92.27 and a 52 week high of $129.70. The stock has a market capitalization of $29.18 billion, a P/E ratio of 33.55, a price-to-earnings-growth ratio of 0.79 and a beta of 0.97. The stock has a fifty day moving average of $114.24 and a 200-day moving average of $111.64.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Tuesday, October 31st. The business services provider reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.55 by $0.20. The company had revenue of $2.48 billion during the quarter, compared to analysts’ expectations of $2.23 billion. Global Payments had a return on equity of 11.28% and a net margin of 9.23%. Global Payments’s revenue was up 8.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.37 EPS. On average, sell-side analysts expect that Global Payments will post 9.76 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Joshua J. Whipple sold 37,096 shares of the firm’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $127.28, for a total value of $4,721,578.88. Following the transaction, the chief financial officer now owns 39,772 shares in the company, valued at $5,062,180.16. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Global Payments news, insider David Lawrence Green sold 17,920 shares of the firm’s stock in a transaction on Thursday, November 2nd. The stock was sold at an average price of $112.53, for a total value of $2,016,537.60. Following the completion of the sale, the insider now directly owns 77,411 shares of the company’s stock, valued at $8,711,059.83. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Joshua J. Whipple sold 37,096 shares of Global Payments stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $127.28, for a total value of $4,721,578.88. Following the completion of the transaction, the chief financial officer now owns 39,772 shares of the company’s stock, valued at $5,062,180.16. The disclosure for this sale can be found here. Corporate insiders own 1.30% of the company’s stock.

Hedge Funds Weigh In On Global Payments

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Oak Thistle LLC bought a new stake in shares of Global Payments in the 2nd quarter valued at about $1,528,000. Arizona State Retirement System grew its holdings in shares of Global Payments by 2.1% during the 2nd quarter. Arizona State Retirement System now owns 75,402 shares of the business services provider’s stock worth $7,429,000 after acquiring an additional 1,570 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. grew its stake in shares of Global Payments by 9.5% in the 1st quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 209,931 shares of the business services provider’s stock worth $22,093,000 after buying an additional 18,220 shares during the last quarter. RFG Advisory LLC grew its stake in shares of Global Payments by 4.9% in the 1st quarter. RFG Advisory LLC now owns 5,938 shares of the business services provider’s stock worth $625,000 after buying an additional 280 shares during the last quarter. Finally, Compass Financial Advisors LLC bought a new position in Global Payments in the 1st quarter valued at approximately $310,000. 85.23% of the stock is currently owned by hedge funds and other institutional investors.

Global Payments Company Profile

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 three segments: Merchant Solutions, Issuer Solutions, and Consumer 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.