Global Payments Inc. (GPN) Given “Outperform” Rating at William Blair
A number of other brokerages also recently weighed in on GPN. Goldman Sachs Group Inc. raised Global Payments from a neutral rating to a buy rating and raised their target price for the company from $80.00 to $88.00 in a report on Thursday, September 15th. Barclays PLC reduced their target price on 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 set a $85.00 price objective on shares of Global Payments in a report on Thursday, September 8th. Nomura raised their price objective on Global Payments from $64.00 to $66.00 in a report on Friday, July 29th. Finally, Keefe, Bruyette & Woods raised their price objective on Global Payments from $88.00 to $90.00 and gave the company an outperform rating in a report on Friday, July 29th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and seventeen have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $77.07.
Shares of Global Payments (NYSE:GPN) traded down 0.43% during trading on Tuesday, reaching $75.75. The company’s stock had a trading volume of 63,213 shares. The company has a market cap of $11.64 billion, a PE ratio of 37.13 and a beta of 1.16. Global Payments has a 52-week low of $51.29 and a 52-week high of $79.93. The firm’s 50-day moving average is $75.29 and its 200 day moving average is $73.19.
Global Payments (NYSE:GPN) last issued its earnings results on Thursday, July 28th. The company reported $0.73 earnings per share for the quarter, meeting the Zacks’ consensus estimate of $0.73. The firm had revenue of $747.10 million for the quarter, compared to the consensus estimate of $568.81 million. Global Payments had a return on equity of 27.99% and a net margin of 9.37%. The company’s revenue was up 5.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.22 EPS. On average, equities research analysts predict that Global Payments will post $3.47 EPS for the current fiscal year.
In related news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of Global Payments stock in a transaction that occurred 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 sale, the director now owns 349,063 shares of the company’s stock, valued at approximately $26,085,477.99. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction that occurred 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 completion of the sale, the director now directly owns 43,516 shares in the company, valued at approximately $3,203,647.92. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Several large investors have recently bought and sold shares of the company. Norges Bank bought a new stake in Global Payments during the fourth quarter worth approximately $63,673,000. Aperio Group LLC boosted its stake in Global Payments by 47.1% in the first quarter. Aperio Group LLC now owns 23,446 shares of the company’s stock worth $1,531,000 after buying an additional 7,507 shares during the period. Virginia Retirement System bought a new stake in Global Payments during the first quarter worth approximately $7,411,000. Three Peaks Capital Management LLC bought a new stake in Global Payments during the first quarter worth approximately $5,042,000. Finally, BlackRock Group LTD boosted its stake in Global Payments by 2.0% in the first quarter. BlackRock Group LTD now owns 515,022 shares of the company’s stock worth $33,630,000 after buying an additional 10,310 shares during the period. 96.56% of the stock is currently owned by institutional investors.
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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