GPN has been the subject of several other research reports. Robert W. Baird reiterated an outperform rating and issued a $85.00 price target on shares of Global Payments in a research report on Tuesday, September 6th. Goldman Sachs Group Inc. upgraded Global Payments from a neutral rating to a buy rating and lifted their price target for the stock from $80.00 to $88.00 in a research report on Thursday, September 15th. Zacks Investment Research lowered Global Payments from a buy rating to a hold rating in a research report on Friday, July 8th. Credit Suisse Group AG reiterated a buy rating on shares of Global Payments in a research report on Monday, June 27th. Finally, JPMorgan Chase & Co. reiterated a buy rating and issued a $83.00 price target on shares of Global Payments in a research report on Friday, July 29th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $77.47.
Global Payments (NYSE:GPN) opened at 76.76 on Tuesday. Global Payments has a 52-week low of $51.29 and a 52-week high of $79.93. The firm’s 50-day moving average price is $75.44 and its 200-day moving average price is $73.37. The company has a market cap of $11.79 billion, a price-to-earnings ratio of 37.63 and a beta of 1.09.
Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.73 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.73. The company earned $747.10 million during the quarter, compared to analyst estimates of $568.81 million. Global Payments had a return on equity of 27.99% and a net margin of 9.37%. The firm’s revenue was up 5.7% on a year-over-year basis. During the same quarter last year, the business posted $1.22 earnings per share. On average, equities analysts anticipate that Global Payments will post $3.47 EPS for the current year.
In other news, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction on Wednesday, July 13th. The shares were sold at an average price of $75.80, for a total transaction of $45,480.00. Following the sale, the director now directly owns 44,716 shares of the company’s stock, valued at $3,389,472.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider David E. Mangum sold 88,938 shares of the business’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $75.07, for a total transaction of $6,676,575.66. Following the sale, the insider now directly owns 172,060 shares in the company, valued at $12,916,544.20. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Large investors have recently made changes to their positions in the stock. Wellington Management Group LLP raised its stake in shares of Global Payments by 227.4% in the first quarter. Wellington Management Group LLP now owns 11,997,800 shares of the company’s stock worth $783,456,000 after buying an additional 8,333,396 shares during the period. Vanguard Group Inc. increased its position in Global Payments by 44.3% in the second quarter. Vanguard Group Inc. now owns 13,969,774 shares of the company’s stock worth $997,163,000 after buying an additional 4,289,181 shares in the last quarter. State Street Corp increased its position in Global Payments by 35.8% in the second quarter. State Street Corp now owns 5,512,377 shares of the company’s stock worth $393,482,000 after buying an additional 1,454,637 shares in the last quarter. BlackRock Advisors LLC increased its position in Global Payments by 219.6% in the second quarter. BlackRock Advisors LLC now owns 2,030,268 shares of the company’s stock worth $144,920,000 after buying an additional 1,394,995 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA increased its position in Global Payments by 30.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,367,430 shares of the company’s stock worth $383,127,000 after buying an additional 1,259,406 shares in the last quarter. 96.56% of the stock is currently owned by hedge funds and other institutional investors.
About Global Payments
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates in two segments: North America merchant services and International merchant services. The Company’s North America merchant services and International merchant services segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
Receive News & Ratings for Global Payments Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments Inc. and related companies with MarketBeat.com's FREE daily email newsletter.