Global Payments’ (GPN) “Buy” Rating Reaffirmed at SunTrust Banks

Global Payments (NYSE:GPN)‘s stock had its “buy” rating restated by analysts at SunTrust Banks in a research report issued to clients and investors on Friday. They presently have a $130.00 price target on the business services provider’s stock. SunTrust Banks’ price target points to a potential upside of 13.69% from the stock’s current price.

A number of other equities analysts also recently weighed in on GPN. BMO Capital Markets reissued a “buy” rating and set a $135.00 price target on shares of Global Payments in a research report on Friday. Deutsche Bank boosted their price target on Global Payments and gave the stock a “buy” rating in a research report on Friday. Nomura boosted their price target on Global Payments from $85.00 to $92.00 and gave the stock a “reduce” rating in a research report on Tuesday, February 13th. Barclays boosted their price target on Global Payments to $128.00 and gave the stock an “overweight” rating in a research report on Thursday. They noted that the move was a valuation call. Finally, Citigroup reissued a “buy” rating and set a $116.00 price target (up previously from $107.00) on shares of Global Payments in a research report on Thursday, November 9th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have issued a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $107.69.

Shares of Global Payments (NYSE:GPN) opened at $114.35 on Friday. The company has a quick ratio of 1.14, a current ratio of 1.13 and a debt-to-equity ratio of 1.15. The stock has a market capitalization of $18,197.89, a PE ratio of 38.37, a P/E/G ratio of 1.70 and a beta of 1.14. Global Payments has a 12-month low of $76.47 and a 12-month high of $114.86.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.07 earnings per share for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. The firm had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $943.39 million. Global Payments had a return on equity of 17.94% and a net margin of 11.78%. The business’s revenue was up 11.0% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.89 earnings per share. research analysts expect that Global Payments will post 4.53 EPS for the current year.

Global Payments announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 15th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s management believes its stock is undervalued.

In related news, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $100.48, for a total value of $60,288.00. Following the completion of the sale, the director now directly owns 45,493 shares in the company, valued at $4,571,136.64. The sale was disclosed in a filing with the SEC, which is available at this link. Over the last quarter, insiders sold 3,600 shares of company stock valued at $370,602. 0.93% of the stock is currently owned by corporate insiders.

Hedge funds have recently modified their holdings of the stock. Harel Insurance Investments & Financial Services Ltd. bought a new stake in shares of Global Payments in the fourth quarter valued at approximately $120,000. SWS Partners bought a new stake in shares of Global Payments in the fourth quarter valued at approximately $163,000. Tower Research Capital LLC TRC boosted its stake in shares of Global Payments by 2,412.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the business services provider’s stock valued at $166,000 after buying an additional 1,592 shares during the period. Klingenstein Fields & Co. LLC bought a new stake in shares of Global Payments in the fourth quarter valued at approximately $204,000. Finally, Quantbot Technologies LP bought a new stake in shares of Global Payments in the third quarter valued at approximately $198,000. Institutional investors and hedge funds own 98.53% of the company’s stock.

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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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