Global Payments Inc. (NYSE:GPN) had its price target raised by equities research analysts at Stifel Nicolaus from $75.00 to $76.00 in a report issued on Friday. The brokerage currently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would suggest a potential downside of 3.77% from the stock’s current price.
Other equities research analysts also recently issued reports about the stock. Credit Suisse Group AG reissued a “buy” rating on shares of Global Payments in a research report on Monday, June 27th. Zacks Investment Research raised shares of Global Payments from a “hold” rating to a “buy” rating and set a $79.00 target price for the company in a research report on Wednesday, June 29th. Barclays PLC decreased their target price on shares of Global Payments from $78.00 to $73.00 and set an “equal weight” rating for the company in a research report on Thursday, July 7th. Deutsche Bank AG reissued a “buy” rating and set a $79.00 target price (up from $72.00) on shares of Global Payments in a research report on Tuesday, July 12th. Finally, Nomura boosted their target price on shares of Global Payments from $64.00 to $66.00 in a research report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have assigned a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average target price of $77.92.
Shares of Global Payments (NYSE:GPN) opened at 78.98 on Friday. The company has a 50-day moving average of $75.84 and a 200 day moving average of $73.90. The firm has a market capitalization of $12.13 billion, a P/E ratio of 38.72 and a beta of 1.09. Global Payments has a 52 week low of $51.29 and a 52 week high of $79.93.
Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. The firm earned $939.50 million during the quarter. During the same period last year, the firm posted $0.79 earnings per share. The company’s revenue for the quarter was up 52.2% on a year-over-year basis. Equities research analysts anticipate that Global Payments will post $3.48 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 11th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.05%. The ex-dividend date is Tuesday, November 8th. Global Payments’s dividend payout ratio is presently 2.06%.
In other news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the stock in a transaction on Monday, September 19th. The shares were sold at an average price of $74.73, for a total value of $485,745.00. Following the transaction, the director now owns 349,063 shares of the company’s stock, valued at approximately $26,085,477.99. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director William I. Jacobs sold 600 shares of the stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $75.80, for a total transaction of $45,480.00. Following the completion of the transaction, the director now directly owns 44,716 shares in the company, valued at approximately $3,389,472.80. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Several institutional investors have recently modified their holdings of GPN. Wellington Management Group LLP raised its position 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 last quarter. Vanguard Group Inc. raised 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 valued at $997,163,000 after buying an additional 4,289,181 shares in the last quarter. State Street Corp raised 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 valued at $393,482,000 after buying an additional 1,454,637 shares in the last quarter. BlackRock Advisors LLC raised 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 valued at $144,920,000 after buying an additional 1,394,995 shares in the last quarter. Finally, Massachusetts Financial Services Co. MA raised 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 valued at $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.
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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