Global Payments (NYSE:GPN) was upgraded by research analysts at Goldman Sachs Group from a “neutral” rating to a “buy” rating in a research note issued to investors on Tuesday, Marketbeat reports. The brokerage presently has a $128.00 price objective on the business services provider’s stock, up from their prior price objective of $122.00. Goldman Sachs Group’s price objective suggests a potential upside of 17.76% from the company’s previous close.

Several other research firms have also weighed in on GPN. Deutsche Bank lifted their price objective on Global Payments to $140.00 and gave the company a “buy” rating in a research note on Friday, September 14th. BMO Capital Markets assumed coverage on Global Payments in a research note on Wednesday, September 26th. They issued an “outperform” rating and a $139.00 price objective on the stock. Robert W. Baird lifted their price objective on Global Payments from $136.00 to $142.00 and gave the company an “outperform” rating in a research note on Wednesday, October 17th. Zacks Investment Research lowered Global Payments from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, KeyCorp lifted their price objective on Global Payments from $130.00 to $135.00 and gave the company an “overweight” rating in a research note on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and sixteen have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $125.70.

NYSE:GPN traded down $0.55 during mid-day trading on Tuesday, reaching $108.70. The company’s stock had a trading volume of 14,683 shares, compared to its average volume of 1,449,161. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.13. Global Payments has a twelve month low of $94.81 and a twelve month high of $129.25. The firm has a market cap of $16.26 billion, a price-to-earnings ratio of 27.10, a PEG ratio of 1.00 and a beta of 1.14.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Tuesday, October 30th. The business services provider reported $1.44 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.39 by $0.05. The firm had revenue of $857.70 million for the quarter, compared to analyst estimates of $1.02 billion. Global Payments had a return on equity of 18.38% and a net margin of 17.48%. The firm’s quarterly revenue was down 17.4% on a year-over-year basis. During the same period last year, the company earned $1.15 EPS. As a group, research analysts forecast that Global Payments will post 4.89 earnings per share for the current fiscal year.

In related news, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of the business’s stock in a transaction that occurred on Friday, December 14th. The stock was sold at an average price of $102.02, for a total transaction of $306,060.00. Following the completion of the transaction, the director now owns 74,899 shares in the company, valued at approximately $7,641,195.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan M. Silberstein sold 700 shares of the business’s stock in a transaction that occurred on Wednesday, November 14th. The shares were sold at an average price of $109.66, for a total value of $76,762.00. Following the transaction, the director now owns 42,169 shares of the company’s stock, valued at approximately $4,624,252.54. The disclosure for this sale can be found here. Insiders have sold a total of 6,825 shares of company stock valued at $745,541 in the last 90 days. Insiders own 0.98% of the company’s stock.

Large investors have recently added to or reduced their stakes in the stock. BlackRock Inc. boosted its position in Global Payments by 1.3% during the 3rd quarter. BlackRock Inc. now owns 10,862,520 shares of the business services provider’s stock worth $1,383,883,000 after acquiring an additional 143,470 shares during the period. FMR LLC boosted its position in Global Payments by 3.6% during the 3rd quarter. FMR LLC now owns 10,063,461 shares of the business services provider’s stock worth $1,282,085,000 after acquiring an additional 350,835 shares during the period. JPMorgan Chase & Co. boosted its position in Global Payments by 14.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,520,530 shares of the business services provider’s stock worth $575,914,000 after acquiring an additional 581,025 shares during the period. Janus Henderson Group PLC boosted its position in Global Payments by 7.2% during the 3rd quarter. Janus Henderson Group PLC now owns 3,752,384 shares of the business services provider’s stock worth $478,053,000 after acquiring an additional 251,323 shares during the period. Finally, Capital International Investors boosted its position in Global Payments by 6.1% during the 3rd quarter. Capital International Investors now owns 2,876,112 shares of the business services provider’s stock worth $366,417,000 after acquiring an additional 164,993 shares during the period. Institutional investors and hedge funds own 97.29% of the company’s stock.

About Global Payments

Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.

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Analyst Recommendations for Global Payments (NYSE:GPN)

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