Oppenheimer analyst Glenn Greene maintained a Buy rating on Global Payments Inc (NYSE: GPN) today and set a price target of $130. The company’s shares opened today at $126.71, close to its 52-week high of $129.25.
Greene commented:
“GPN today announced the acquisition of SICOM in cash, which we anticipate will prove modestly accretive in CY19. SICOM provides technology solutions for quick service/fast casual restaurants and food services management providers, and appears complementary to GPN’s vertical software strategy. SICOM could contribute ~$100M of CY19 revenue (growing LDD) with modest profitability accretion (to both EBITDA margins and EPS). We estimate SICOM could conservatively prove >$0.05 accretive to CY19 EPS estimates, assuming a pro forma 35% EBITDA margin. With shares trading at ~21x our CY19E EPS, we view GPN as attractive. $130 PT.”
According to TipRanks.com, Greene is a top 25 analyst with an average return of 22.3% and a 84.9% success rate. Greene covers the Technology sector, focusing on stocks such as Jack Henry & Associates, Fidelity National Info, and Total System Services.
Global Payments Inc has an analyst consensus of Strong Buy, with a price target consensus of $132.67, a 4.7% upside from current levels. In a report issued on September 14, Deutsche Bank also maintained a Buy rating on the stock with a $140 price target.
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Global Payments Inc’s market cap is currently $20.09B and has a P/E ratio of 36.52. The company has a Price to Book ratio of 5.23.
Based on the recent corporate insider activity of 110 insiders, corporate insider sentiment is negative on the stock. Earlier this month, Cameron Bready, the Senior Executive VP and CFO of GPN sold 57,737 shares for a total of $7,377,471.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
Global Payments, Inc. engages in the provision of payment technology services. It operates through the following segments: North America, Europe, and Asia-Pacific. The North America segment offers numerous services and solutions, including: restaurant, hospitality, retail, convenience stores and petroleum, professional services, automotive, and lodging.
