Compass Point Upgrades Global Payments Inc. (GPN) to Buy
Global Payments Inc. (NYSE:GPN) was upgraded by Compass Point from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $77.00 price objective on the stock. Compass Point’s price target points to a potential upside of 15.67% from the company’s current price.
A number of other equities analysts have also recently issued reports on the company. Deutsche Bank AG restated a “buy” rating and set a $85.00 price target (up from $79.00) on shares of Global Payments in a report on Thursday, October 6th. Goldman Sachs Group Inc. upgraded Global Payments from a “neutral” rating to a “buy” rating and increased their price target for the stock from $80.00 to $88.00 in a report on Thursday, September 15th. JPMorgan Chase & Co. restated a “buy” rating and set a $83.00 price target on shares of Global Payments in a report on Friday, July 29th. Wedbush restated an “outperform” rating and set a $85.00 price target on shares of Global Payments in a report on Thursday, September 8th. Finally, Keefe, Bruyette & Woods increased their price target on Global Payments from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday, July 29th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and nineteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $78.88.
Global Payments (NYSE:GPN) opened at 66.57 on Tuesday. The company’s 50-day moving average is $73.94 and its 200-day moving average is $74.60. The firm has a market capitalization of $10.23 billion, a P/E ratio of 34.26 and a beta of 1.10. Global Payments has a one year low of $51.29 and a one year high of $79.93.
Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.83 by $0.03. The firm had revenue of $939.50 million for the quarter. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. Global Payments’s quarterly revenue was up 52.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.79 earnings per share. Equities analysts forecast that Global Payments will post $3.51 earnings per share for the current fiscal year.
The business also recently announced 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 of this dividend is Tuesday, November 8th. This represents a $0.04 annualized dividend and a yield of 0.06%. Global Payments’s dividend payout ratio is currently 2.06%.
In other news, EVP Guido Francesco Sacchi sold 11,102 shares of Global Payments stock in a transaction dated Tuesday, October 11th. The stock was sold at an average price of $73.80, for a total transaction of $819,327.60. Following the completion of the sale, the executive vice president now owns 23,904 shares in the company, valued at approximately $1,764,115.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction dated Thursday, October 13th. The shares were sold at an average price of $73.22, for a total value of $43,932.00. Following the sale, the director now owns 44,411 shares of the company’s stock, valued at approximately $3,251,773.42. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
Several hedge funds have recently modified their holdings of the stock. Municipal Employees Retirement System of Michigan increased its stake in shares of Global Payments by 0.4% in the third quarter. Municipal Employees Retirement System of Michigan now owns 4,870 shares of the company’s stock worth $374,000 after buying an additional 20 shares during the period. Independent Portfolio Consultants Inc. increased its stake in shares of 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 during the period. Ranger Investment Management L.P. increased its stake in shares of Global Payments by 0.4% in the second quarter. Ranger Investment Management L.P. now owns 17,030 shares of the company’s stock worth $1,216,000 after buying an additional 60 shares during the period. Highland Capital Management LLC increased its stake in shares of Global Payments by 0.6% in the third quarter. Highland Capital Management LLC now owns 13,482 shares of the company’s stock worth $1,035,000 after buying an additional 82 shares during the period. Finally, GHP Investment Advisors Inc. increased its stake in shares of Global Payments by 0.4% in the third quarter. GHP Investment Advisors Inc. now owns 28,752 shares of the company’s stock worth $2,207,000 after buying an additional 116 shares during the period. Hedge funds and other institutional investors own 96.63% 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 through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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