GPN has been the topic of several other research reports. William Blair reaffirmed an outperform rating on shares of Global Payments in a research report on Tuesday, September 27th. Zacks Investment Research raised Global Payments from a hold rating to a buy rating and set a $79.00 price objective for the company in a research report on Wednesday, June 29th. JPMorgan Chase & Co. reissued a buy rating and issued a $83.00 price objective on shares of Global Payments in a research report on Friday, July 29th. Oppenheimer Holdings Inc. reissued an outperform rating and issued a $85.00 price objective on shares of Global Payments in a research report on Wednesday, September 28th. Finally, Stifel Nicolaus raised 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 analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the stock. The stock has an average rating of Buy and a consensus target price of $78.03.
Global Payments (NYSE:GPN) opened at 74.21 on Thursday. The stock has a market cap of $11.41 billion, a PE ratio of 38.19 and a beta of 1.09. The stock has a 50 day moving average price of $75.50 and a 200 day moving average price of $74.70. Global Payments has a 1-year low of $51.29 and a 1-year high of $79.93.
Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.03. The business had revenue of $939.50 million for the quarter. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The firm’s revenue was up 52.2% compared to the same quarter last year. During the same period last year, the business posted $0.79 EPS. On average, analysts predict that Global Payments will post $3.48 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be given a $0.01 dividend. The ex-dividend date of this dividend is Tuesday, November 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. Global Payments’s payout ratio is presently 2.06%.
In other news, insider David E. Mangum sold 88,938 shares of the business’s stock in a transaction dated 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 of the company’s stock, valued at $12,916,544.20. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director William I. Jacobs sold 6,360 shares of the business’s stock in a transaction dated Thursday, August 11th. The shares were sold at an average price of $75.21, for a total value of $478,335.60. Following the completion of the transaction, the director now directly owns 44,716 shares of the company’s stock, valued at approximately $3,363,090.36. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in Global Payments by 0.9% in the first quarter. Geode Capital Management LLC now owns 773,444 shares of the company’s stock worth $50,475,000 after buying an additional 7,011 shares during the period. Riverhead Capital Management LLC increased its position in Global Payments by 91.5% in the first quarter. Riverhead Capital Management LLC now owns 46,724 shares of the company’s stock worth $3,050,000 after buying an additional 22,324 shares during the period. Lazard Asset Management LLC increased its position in Global Payments by 66.4% in the first quarter. Lazard Asset Management LLC now owns 113,522 shares of the company’s stock worth $7,412,000 after buying an additional 45,281 shares during the period. Bank of Montreal Can bought a new position in Global Payments during the second quarter worth approximately $7,668,000. Finally, Capital Fund Management S.A. increased its position in Global Payments by 163.4% in the second quarter. Capital Fund Management S.A. now owns 464,283 shares of the company’s stock worth $33,141,000 after buying an additional 288,045 shares during the period. 96.57% of the stock is owned by institutional investors and hedge funds.
About Global Payments
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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