Oppenheimer Holdings Inc. restated their outperform rating on shares of Global Payments Inc. (NYSE:GPN) in a research note released on Friday. Oppenheimer Holdings Inc. currently has a $85.00 target price on the stock.
GPN has been the subject of several other reports. Robert W. Baird reiterated an outperform rating and issued a $85.00 price objective on shares of Global Payments in a research report on Tuesday, September 6th. Zacks Investment Research upgraded Global Payments from a hold rating to a buy rating and set a $86.00 price objective for the company in a research report on Monday, October 3rd. William Blair reiterated an outperform rating on shares of Global Payments in a research report on Tuesday, September 27th. Goldman Sachs Group Inc. upgraded Global Payments from a neutral rating to a buy rating and increased their price objective for the stock from $80.00 to $88.00 in a research report on Thursday, September 15th. Finally, Stifel Nicolaus increased their price objective on Global Payments from $75.00 to $76.00 and gave the stock a hold rating in a research report on Friday, October 7th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have given a buy rating to the company. The company has an average rating of Buy and a consensus target price of $77.92.
Shares of Global Payments (NYSE:GPN) opened at 73.81 on Friday. The company has a market capitalization of $11.34 billion, a price-to-earnings ratio of 37.99 and a beta of 1.09. 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 price is $75.80 and its 200-day moving average price is $74.33.
Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.03. The company earned $939.50 million during the quarter. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The company’s revenue was up 52.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. Analysts anticipate that Global Payments will post $3.48 earnings per share for the current fiscal year.
The firm also recently declared 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 dividend on an annualized basis 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 Global Payments news, Director William I. Jacobs sold 6,360 shares of the firm’s stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $75.21, for a total value of $478,335.60. Following the sale, the director now directly owns 44,716 shares in the company, valued at $3,363,090.36. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider David E. Mangum sold 88,938 shares of the firm’s stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $75.07, for a total value of $6,676,575.66. Following the completion of the sale, the insider now owns 172,060 shares in the company, valued at $12,916,544.20. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
A number of hedge funds have recently bought and sold shares of the stock. Acrospire Investment Management LLC boosted its stake in Global Payments by 77.8% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the company’s stock worth $114,000 after buying an additional 700 shares in the last quarter. Financial Architects Inc boosted its stake in Global Payments by 1,305.2% in the second quarter. Financial Architects Inc now owns 1,616 shares of the company’s stock worth $115,000 after buying an additional 1,501 shares in the last quarter. PineBridge Investments L.P. acquired a new stake in Global Payments during the second quarter worth $139,000. IFP Advisors Inc boosted 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, Mizuho Asset Management Co. Ltd. acquired a new stake in Global Payments during the second quarter worth $168,000. Institutional investors own 96.56% of the company’s stock.
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.
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