Global Payments (NYSE:GPN) Now Covered by Rosenblatt Securities

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Equities research analysts at Rosenblatt Securities began coverage on shares of Global Payments (NYSE:GPN) in a note issued to investors on Thursday, TipRanks reports. The firm set a “buy” rating and a $179.00 price target on the business services provider’s stock. Rosenblatt Securities’ price target points to a potential upside of 17.09% from the company’s current price.

A number of other research analysts also recently commented on the stock. Jefferies Financial Group increased their price target on shares of Global Payments from $195.00 to $235.00 and gave the company a “buy” rating in a report on Wednesday, January 22nd. ValuEngine raised shares of Global Payments from a “sell” rating to a “hold” rating in a research report on Wednesday, January 15th. Cfra increased their price objective on shares of Global Payments from $184.00 to $215.00 and gave the stock a “hold” rating in a research report on Wednesday, February 12th. Zacks Investment Research lowered shares of Global Payments from a “buy” rating to a “hold” rating and set a $195.00 price objective on the stock. in a research report on Thursday, January 2nd. Finally, Morgan Stanley increased their price objective on shares of Global Payments from $137.00 to $210.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-four have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $209.70.

Shares of NYSE:GPN opened at $152.87 on Thursday. The company has a current ratio of 1.22, a quick ratio of 1.22 and a debt-to-equity ratio of 0.32. Global Payments has a 12 month low of $105.54 and a 12 month high of $209.62. The company has a 50-day moving average price of $180.04 and a 200 day moving average price of $177.02. The company has a market cap of $42.39 billion, a price-to-earnings ratio of 64.78, a PEG ratio of 1.05 and a beta of 1.00.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, February 12th. The business services provider reported $1.62 EPS for the quarter, beating the Zacks’ consensus estimate of $1.51 by $0.11. Global Payments had a net margin of 8.77% and a return on equity of 7.25%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter last year, the firm earned $1.33 EPS. The firm’s revenue for the quarter was up 125.7% compared to the same quarter last year. As a group, equities analysts forecast that Global Payments will post 7.2 EPS for the current year.

In other news, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $149.00, for a total transaction of $89,400.00. Following the transaction, the director now directly owns 25,388 shares of the company’s stock, valued at $3,782,812. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CAO David M. Sheffield sold 586 shares of the firm’s stock in a transaction that occurred on Monday, March 2nd. The stock was sold at an average price of $187.47, for a total transaction of $109,857.42. Following the transaction, the chief accounting officer now directly owns 22,692 shares in the company, valued at $4,254,069.24. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,753 shares of company stock worth $1,300,435. Corporate insiders own 0.88% of the company’s stock.

A number of hedge funds have recently modified their holdings of GPN. Virtus ETF Advisers LLC purchased a new position in Global Payments during the fourth quarter valued at approximately $29,000. Evoke Wealth LLC purchased a new position in Global Payments during the third quarter valued at approximately $30,000. Resources Management Corp CT ADV purchased a new position in Global Payments during the third quarter valued at approximately $32,000. Simon Quick Advisors LLC purchased a new position in Global Payments during the fourth quarter valued at approximately $43,000. Finally, First Financial Corp IN increased its holdings in Global Payments by 38.5% during the fourth quarter. First Financial Corp IN now owns 234 shares of the business services provider’s stock valued at $43,000 after buying an additional 65 shares during the period. 88.10% of the stock is currently owned by institutional investors.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.

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Analyst Recommendations for Global Payments (NYSE:GPN)

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