Global Payments Inc. (GPN) Earns Outperform Rating from Oppenheimer Holdings Inc.
Global Payments Inc. (NYSE:GPN)‘s stock had its “outperform” rating reaffirmed by Oppenheimer Holdings Inc. in a report issued on Friday. They presently have a $85.00 price objective on the stock. Oppenheimer Holdings Inc.’s target price would indicate a potential upside of 11.83% from the stock’s current price.
A number of other brokerages have also recently issued reports on GPN. Goldman Sachs Group Inc. raised shares of Global Payments from a “neutral” rating to a “buy” rating and upped their target price for the company from $80.00 to $88.00 in a report on Thursday, September 15th. Barclays PLC lowered their price target on shares of Global Payments from $78.00 to $73.00 and set an “equal weight” rating on the stock in a report on Thursday, July 7th. Wedbush reissued an “outperform” rating and issued a $85.00 price target on shares of Global Payments in a report on Thursday, September 8th. Deutsche Bank AG reissued a “buy” rating and issued a $85.00 price target (up from $79.00) on shares of Global Payments in a report on Thursday. Finally, Nomura increased their price target on shares of Global Payments from $64.00 to $66.00 in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the stock. The stock has an average rating of “Buy” and an average price target of $77.92.
Global Payments (NYSE:GPN) opened at 76.01 on Friday. The firm’s 50-day moving average is $75.90 and its 200-day moving average is $74.02. Global Payments has a 52 week low of $51.29 and a 52 week high of $79.93. The company has a market cap of $11.68 billion, a PE ratio of 39.12 and a beta of 1.09.
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Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.83 by $0.03. The company had revenue of $939.50 million for the quarter. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. The firm’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same period in the previous year, the company posted $0.79 earnings per share. On average, analysts expect that Global Payments will post $3.48 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.05%. The ex-dividend date of this dividend is Tuesday, November 8th. Global Payments’s dividend payout ratio is presently 2.06%.
In related news, insider David E. Mangum sold 88,938 shares of Global Payments 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 completion of the transaction, the insider now owns 172,060 shares of the company’s stock, valued at $12,916,544.20. 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 Global Payments stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $73.62, for a total transaction of $44,172.00. Following the transaction, the director now directly owns 43,516 shares of the company’s stock, valued at approximately $3,203,647.92. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
A number of institutional investors have recently made changes to their positions in the company. Acrospire Investment Management LLC increased its position in shares of 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 increased its position in shares of 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. bought a new stake in Global Payments during the second quarter worth approximately $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 during the last quarter. Finally, Mizuho Asset Management Co. Ltd. bought a new stake in Global Payments during the second quarter worth approximately $168,000. 96.56% of the stock is owned by institutional investors and hedge funds.
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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