According to Zacks, “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. “
GPN has been the subject of a number of other research reports. Robert W. Baird restated an outperform rating and set a $85.00 price objective on shares of Global Payments in a research report on Tuesday, September 6th. William Blair restated an outperform rating on shares of Global Payments in a research report on Tuesday, September 27th. Oppenheimer Holdings Inc. reiterated an outperform rating and issued a $85.00 price target on shares of Global Payments in a report on Wednesday, September 28th. Goldman Sachs Group Inc. upgraded shares of Global Payments from a neutral rating to a buy rating and increased their price target for the company from $80.00 to $88.00 in a report on Thursday, September 15th. Finally, Credit Suisse Group AG reiterated a buy rating on shares of Global Payments in a report on Monday, June 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and eighteen have assigned a buy rating to the company’s stock. Global Payments has an average rating of Buy and a consensus price target of $77.75.
Global Payments (NYSE:GPN) opened at 77.12 on Monday. Global Payments has a 52-week low of $51.29 and a 52-week high of $79.93. The company’s 50-day moving average is $75.51 and its 200-day moving average is $73.70. The firm has a market capitalization of $11.85 billion, a price-to-earnings ratio of 37.80 and a beta of 1.09.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.73 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.73. The company earned $747.10 million during the quarter, compared to the consensus estimate of $568.81 million. Global Payments had a net margin of 9.37% and a return on equity of 27.99%. Global Payments’s quarterly revenue was up 5.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.22 EPS. Equities analysts predict that Global Payments will post $3.47 earnings per share for the current year.
In other news, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $73.62, for a total transaction of $44,172.00. Following the sale, the director now owns 43,516 shares in the company, valued at $3,203,647.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of Global Payments stock in a transaction that occurred on Monday, September 19th. The shares were sold at an average price of $74.73, for a total transaction of $485,745.00. Following the sale, the director now owns 349,063 shares in the company, valued at approximately $26,085,477.99. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the stock. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Global Payments during the second quarter worth about $444,000. Kentucky Retirement Systems purchased a new stake in Global Payments during the second quarter worth about $935,000. Mason Street Advisors LLC purchased a new stake in Global Payments during the second quarter worth about $1,481,000. IFP Advisors Inc raised its stake in Global Payments by 39.1% in the second quarter. IFP Advisors Inc now owns 2,263 shares of the company’s stock worth $162,000 after buying an additional 636 shares in the last quarter. Finally, Public Employees Retirement System of Ohio raised its stake in Global Payments by 42.1% in the second quarter. Public Employees Retirement System of Ohio now owns 272,404 shares of the company’s stock worth $19,444,000 after buying an additional 80,639 shares in the last quarter. Institutional investors own 96.56% of the company’s stock.
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 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.
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