Oppenheimer Holdings Inc. Reiterates Outperform Rating for Global Payments Inc. (GPN)
Global Payments Inc. (NYSE:GPN)‘s stock had its “outperform” rating restated by equities researchers at Oppenheimer Holdings Inc. in a report released on Wednesday. They currently have a $85.00 target price on the stock. Oppenheimer Holdings Inc.’s price objective points to a potential upside of 11.72% from the company’s current price.
GPN has been the subject of several other reports. William Blair restated an “outperform” rating on shares of Global Payments in a research report on Tuesday. Zacks Investment Research upgraded 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. JPMorgan Chase & Co. restated a “buy” rating and set a $83.00 target price on shares of Global Payments in a research report on Friday, July 29th. Robert W. Baird restated an “outperform” rating and set a $85.00 target price on shares of Global Payments in a research report on Tuesday, September 6th. Finally, Deutsche Bank AG restated a “buy” rating and set a $79.00 target price (up from $72.00) on shares of Global Payments in a research report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and seventeen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and a consensus price target of $77.07.
Shares of Global Payments (NYSE:GPN) opened at 76.08 on Wednesday. The firm’s 50 day moving average is $75.29 and its 200-day moving average is $73.19. The firm has a market capitalization of $11.69 billion, a PE ratio of 37.29 and a beta of 1.16. Global Payments has a one year low of $51.29 and a one year high of $79.93.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.73 EPS for the quarter, hitting the Zacks’ consensus estimate of $0.73. The firm earned $747.10 million during the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same period last year, the company earned $1.22 earnings per share. On average, equities research analysts predict that Global Payments will post $3.47 earnings per share for the current fiscal year.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the company’s stock in a transaction on Monday, July 18th. The stock was sold at an average price of $76.61, for a total value of $497,965.00. Following the transaction, the director now directly owns 362,063 shares of the company’s stock, valued at approximately $27,737,646.43. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO David E. Mangum sold 8,400 shares of the company’s stock in a transaction on Monday, August 8th. The shares were sold at an average price of $74.71, for a total value of $627,564.00. Following the completion of the transaction, the chief operating officer now directly owns 172,060 shares in the company, valued at $12,854,602.60. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of GPN. Kentucky Retirement Systems Insurance Trust Fund purchased a new position in shares of Global Payments during the second quarter worth approximately $444,000. Kentucky Retirement Systems purchased a new position in shares of Global Payments during the second quarter worth approximately $935,000. Mason Street Advisors LLC purchased a new position in shares of Global Payments during the second quarter worth approximately $1,481,000. IFP Advisors Inc raised its position in shares of 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, Public Employees Retirement System of Ohio raised its position in shares of Global Payments by 42.1% in the second quarter. Public Employees Retirement System of Ohio now owns 272,404 shares of the company’s stock worth $19,444,000 after buying an additional 80,639 shares in the last quarter. 96.56% of the stock is currently owned by hedge funds and other institutional investors.
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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