Global Payment (NYSE:GPN) Stock Upgrade
Credit Agricole lifted shares of Global Payment (NYSE:GPN) from a Underperform rating to a solid Outperform in a comprehensive report issued on today.
From a total of 22 analysts covering Global Payments Inc. (NYSE:GPN) stock, 11 rate it a ”Buy”, 1 a “Sell”, and 15 a ”Hold”. This means that 41% of the ratings are positive. The highest target price is $84 while the lowest target price is $57.5. The mean of all analyst targets is $70.32 with a 96.04% above today’s ($64.43) stock price. Global Payments Inc. was the topic of 24 analyst reports since July 29, 2015 according to the firm StockzIntelligence Inc. Credit Suisse initiated shares on December 11 with “Outperform” rating. Cowen & Co initiated shares with “Outperform” rating and $134 target share price in a report from a September 30. RBC Capital Markets maintained GPN stock in a recent report from October 21 with “Outperform” rating. Finally, Oppenheimer maintained the stock with “Outperform” rating in a report issued on an October 8.
Approximately 5.38M shares of stock traded hands or 265.99% up from the average. Global Payments Inc (NYSE:GPN) has risen 39.04% since May 13, 2015 and is uptrending. It has outperformed by 41.67% the S&P500.
Analysts await Global Payments Inc (NYSE:GPN) to reports earnings on January, 14. They expect $1.47 EPS, up 15.75% or $0.20 from last year’s $1.27 per share. GPN’s profit will be $208.83 million for 10.95 P/E if the $1.47 EPS becomes reality. After $1.57 actual EPS reported by Global Payments Inc for the previous quarter, Wall Street now forecasts -6.37% negative EPS growth.
The overall sentiment of institutions has increased to 1.17 in Q2 2015. Its up 0.02, from 1.15 in 2015Q2. The ratio is positive, as 28 institutions have sold all the shares of Global Payments Inc that they owned while 123 funds have taken shares off the table. 47 funds have purchased shares for the first time while 130 added to their positions. These institutions now hold 68.16 million shares or 13.26% more than the 60.18 million shares they owned in 2015Q2.
The Fund Value Holdings Lp currently is holding shares equating to 11.23% of its total portfolio in Global Payments Inc representing a total of 135,184 shares. Another fund,Springbank Value Partners Lp, is holding a total of 50,900 shares equating to 11.2% of their holdings. Additionally, Paradice Investment Management Llc has a 475,294 share stake in Global Payments Inc which represents 9.95% of their total portfolio. The Fund, Tiger Eye Capital Llc, based out of New York, has also built up a stake in the stock, which represents a total of 5.6% of their total portfolio. Finally Palestra Capital Management Llc, a fund which is based in the state of New York reported a total holdings of 376,355 shares.
Insider activity is a very important aspect to track on any stock. Going back to April 23, 2015, shareholders of Global Payments Inc have witnessed 0 buys, and a total of 10 insider sales equating to a net activity of approximately $1.80 million . Wilkins Gerald J sold 1,000 shares worth approximately $130,460. Jacobs William I sold 600 shares worth approximately $69,576. Elliott Jane Marie sold 1,700 shares worth approximately $197,744. Green David Lawrence sold 3,750 shares worth approximately $428,589. The company insider Trapp Michael W sold 9,102 shares worth $948,884.
Global Payments Inc. is a provider of payment technology services. The company has a market cap of $9.15 billion. The Firm provides payment and digital commerce solutions. It has 29.68 P/E ratio. The Firm operates in two divisions: North America merchant services and International merchant services.
According to Zacks Investment Research, “Global Payments Inc. is a leading provider of electronic transaction processing services for consumers, merchants, Independent Sales Organizations, financial institutions, government agencies and multi- national corporations located throughout the United States, Canada, Latin America and Europe. Global Payments offers a comprehensive line of processing solutions for credit and debit cards, business-to-business purchasing cards, gift cards, electronic check conversion and check guarantee, verification and recovery, as well as terminal management. The company also provides consumer money transfer services from the U.S. and Europe to destinations in Latin America, Morocco, and the Philippines.”