Stifel Nicolaus Raises Global Payments Inc. (GPN) Price Target to $76.00
Global Payments Inc. (NYSE:GPN) had its price target upped by research analysts at Stifel Nicolaus from $75.00 to $76.00 in a research report issued to clients and investors on Friday. The firm presently has a “hold” rating on the stock. Stifel Nicolaus’ price objective would indicate a potential downside of 3.77% from the company’s previous close.
Several other equities research analysts have also weighed in on the company. Deutsche Bank AG reiterated a “buy” rating and issued a $85.00 price objective (up from $79.00) on shares of Global Payments in a research note on Thursday. Robert W. Baird reissued an “outperform” rating and issued a $85.00 target price on shares of Global Payments in a report on Tuesday. Zacks Investment Research raised Global Payments from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Monday. Barclays PLC boosted their target price on Global Payments from $75.00 to $85.00 and gave the stock an “equal weight” rating in a report on Friday, September 30th. Finally, Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $85.00 target price on shares of Global Payments in a report on Wednesday, September 28th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and a consensus price target of $77.92.
Global Payments (NYSE:GPN) opened at 78.98 on Friday. The company has a 50 day moving average price of $75.84 and a 200-day moving average price of $73.90. The firm has a market capitalization of $12.13 billion, a PE ratio of 38.72 and a beta of 1.09. Global Payments has a one year low of $51.29 and a one year high of $79.93.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.03. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The company had revenue of $939.50 million for the quarter. During the same quarter in the prior year, the company posted $0.79 earnings per share. The company’s revenue for the quarter was up 52.2% on a year-over-year basis. On average, equities analysts predict that Global Payments will post $3.48 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 11th will be issued 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 is Tuesday, November 8th. Global Payments’s dividend payout ratio (DPR) is presently 2.06%.
In other news, Director William I. Jacobs sold 600 shares of the stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $73.62, for a total transaction of $44,172.00. Following the completion of the transaction, the director now directly owns 43,516 shares in the company, valued at approximately $3,203,647.92. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $76.61, for a total transaction of $497,965.00. Following the transaction, the director now owns 362,063 shares of the company’s stock, valued at $27,737,646.43. The disclosure for this sale can be found here. Company insiders own 1.10% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Triangle Securities Wealth Management acquired a new position in Global Payments during the third quarter worth approximately $200,000. First American Bank increased its position in Global Payments by 19.7% in the third quarter. First American Bank now owns 37,433 shares of the company’s stock worth $2,873,000 after buying an additional 6,152 shares in the last quarter. Copper Rock Capital Partners LLC increased its position in Global Payments by 10.0% in the third quarter. Copper Rock Capital Partners LLC now owns 8,649 shares of the company’s stock worth $658,000 after buying an additional 783 shares in the last quarter. Independent Portfolio Consultants Inc. increased its position in Global Payments by 0.4% in the third quarter. Independent Portfolio Consultants Inc. now owns 6,279 shares of the company’s stock worth $482,000 after buying an additional 25 shares in the last quarter. Finally, BNP Paribas Arbitrage SA increased its position in Global Payments by 8.3% in the third quarter. BNP Paribas Arbitrage SA now owns 245,249 shares of the company’s stock worth $18,825,000 after buying an additional 18,864 shares in the last quarter. 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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