Global Payments Inc. (GPN) Receives Outperform Rating from Robert W. Baird
Global Payments Inc. (NYSE:GPN)‘s stock had its “outperform” rating reaffirmed by equities researchers at Robert W. Baird in a note issued to investors on Thursday. They currently have a $88.00 price target on the stock. Robert W. Baird’s target price would suggest a potential upside of 19.97% from the company’s current price.
Other equities research analysts also recently issued research reports about the stock. Nomura boosted their target price on shares of Global Payments from $64.00 to $66.00 in a research report on Friday, July 29th. 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. Credit Suisse Group AG reissued a “buy” rating on shares of Global Payments in a research report on Monday, June 27th. Deutsche Bank AG reaffirmed a “buy” rating and set a $79.00 price objective (up previously from $72.00) on shares of Global Payments in a research report on Tuesday, July 12th. Finally, JPMorgan Chase & Co. reaffirmed a “buy” rating and set a $83.00 price objective on shares of Global Payments in a research report on Friday, July 29th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eighteen have assigned a buy rating to the company. Global Payments currently has a consensus rating of “Buy” and an average price target of $78.03.
Shares of Global Payments (NYSE:GPN) traded down 0.62% during midday trading on Thursday, reaching $73.35. 919,536 shares of the company were exchanged. Global Payments has a 52-week low of $51.29 and a 52-week high of $79.93. The stock has a market capitalization of $11.27 billion, a price-to-earnings ratio of 37.75 and a beta of 1.09. The company’s 50-day moving average price is $75.74 and its 200 day moving average price is $74.32.
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Global Payments (NYSE:GPN) last released its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.03. The company earned $939.50 million during the quarter. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. Global Payments’s revenue for the quarter was up 52.2% on a year-over-year basis. During the same period in the previous year, the firm posted $0.79 EPS. On average, equities analysts predict that Global Payments will post $3.48 earnings per share for the current year.
The business also recently disclosed 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. The ex-dividend date is Tuesday, November 8th. This represents a $0.04 annualized dividend and a yield of 0.05%. Global Payments’s dividend payout ratio is presently 2.06%.
In other Global Payments news, insider David E. Mangum sold 88,938 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 172,060 shares in the company, valued at approximately $12,916,544.20. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, COO David E. Mangum sold 8,400 shares of the company’s stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $74.71, for a total transaction of $627,564.00. Following the completion of the transaction, the chief operating officer now owns 172,060 shares in the company, valued at approximately $12,854,602.60. The disclosure for this sale can be found here. 1.10% of the stock is currently owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Geode Capital Management LLC raised 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 valued at $50,475,000 after buying an additional 7,011 shares in the last quarter. Riverhead Capital Management LLC raised 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 valued at $3,050,000 after buying an additional 22,324 shares in the last quarter. Lazard Asset Management LLC raised 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 valued at $7,412,000 after buying an additional 45,281 shares in the last quarter. Bank of Montreal Can bought a new position in Global Payments during the second quarter valued at $7,668,000. Finally, Capital Fund Management S.A. raised 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 valued at $33,141,000 after buying an additional 288,045 shares in the last quarter. Hedge funds and other 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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