Global Payments Inc. (GPN) Given “Outperform” Rating at Robert W. Baird
Other equities research analysts have also issued research reports about the company. Nomura lifted their target price on Global Payments from $64.00 to $66.00 in a research report on Friday, July 29th. Zacks Investment Research upgraded Global Payments from a hold rating to a buy rating and set a $79.00 price target for the company in a research note on Wednesday, June 29th. Credit Suisse Group AG restated a buy rating on shares of Global Payments in a research note on Monday, June 27th. Deutsche Bank AG restated a buy rating and issued a $79.00 price target (up from $72.00) on shares of Global Payments in a research note on Tuesday, July 12th. Finally, JPMorgan Chase & Co. restated a buy rating and issued a $83.00 price target on shares of Global Payments in a research note on Friday, July 29th. One 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. Global Payments presently has a consensus rating of Buy and a consensus target price of $78.03.
Shares of Global Payments (NYSE:GPN) traded down 0.05% on Thursday, hitting $73.31. The stock had a trading volume of 239,348 shares. Global Payments has a 52 week low of $51.29 and a 52 week high of $79.93. The stock’s 50-day moving average price is $75.74 and its 200 day moving average price is $74.32. The company has a market cap of $11.27 billion, a PE ratio of 37.73 and a beta of 1.09.
Global Payments (NYSE:GPN) last announced 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. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The business had revenue of $939.50 million for the quarter. During the same period in the prior year, the business posted $0.79 EPS. The firm’s quarterly revenue was up 52.2% compared to the same quarter last year. On average, analysts predict that Global Payments will post $3.48 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be given a $0.01 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. Global Payments’s dividend payout ratio (DPR) is presently 2.06%.
In related news, Director William I. Jacobs sold 600 shares of the stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $73.62, for a total value of $44,172.00. Following the sale, the director now owns 43,516 shares in the company, valued at $3,203,647.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director William I. Jacobs sold 6,360 shares of the stock in a transaction on Thursday, August 11th. The stock was sold at an average price of $75.21, for a total value of $478,335.60. Following the completion of the sale, the director now owns 44,716 shares in the company, valued at approximately $3,363,090.36. The disclosure for this sale can be found here. 1.10% of the stock is owned by corporate insiders.
Large investors have recently modified their holdings of the company. Wellington Management Group LLP increased its stake in Global Payments by 227.4% in the first quarter. Wellington Management Group LLP now owns 11,997,800 shares of the company’s stock worth $783,456,000 after buying an additional 8,333,396 shares during the last quarter. Vanguard Group Inc. increased its stake in Global Payments by 44.3% in the second quarter. Vanguard Group Inc. now owns 13,969,774 shares of the company’s stock worth $997,163,000 after buying an additional 4,289,181 shares during the last quarter. State Street Corp increased its stake in Global Payments by 35.8% in the second quarter. State Street Corp now owns 5,512,377 shares of the company’s stock worth $393,482,000 after buying an additional 1,454,637 shares during the last quarter. BlackRock Advisors LLC increased its stake in Global Payments by 219.6% in the second quarter. BlackRock Advisors LLC now owns 2,030,268 shares of the company’s stock worth $144,920,000 after buying an additional 1,394,995 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA increased its stake in Global Payments by 30.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,367,430 shares of the company’s stock worth $383,127,000 after buying an additional 1,259,406 shares during 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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