Global Payments Inc. (GPN) Given “Buy” Rating at Royal Bank Of Canada
Royal Bank Of Canada reaffirmed their buy rating on shares of Global Payments Inc. (NYSE:GPN) in a research report released on Wednesday. They currently have a $103.00 target price on the business services provider’s stock.
Several other research analysts have also issued reports on the company. Zacks Investment Research upgraded Global Payments from a sell rating to a hold rating in a research note on Wednesday, May 10th. Mizuho began coverage on Global Payments in a research note on Tuesday, June 27th. They set a buy rating and a $105.00 price objective for the company. Keefe, Bruyette & Woods reiterated a buy rating on shares of Global Payments in a research note on Monday, May 15th. Credit Suisse Group reiterated an outperform rating on shares of Global Payments in a research note on Tuesday. Finally, BMO Capital Markets increased their price objective on Global Payments from $91.00 to $93.00 and gave the stock an outperform rating in a research note on Monday, May 15th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and eighteen have issued a buy rating to the stock. Global Payments has an average rating of Buy and an average target price of $96.06.
Global Payments (NYSE GPN) traded up 0.19% during trading on Wednesday, reaching $94.95. 55,003 shares of the company’s stock were exchanged. Global Payments has a 52-week low of $64.63 and a 52-week high of $97.99. The stock’s 50-day moving average price is $94.74 and its 200-day moving average price is $87.35. The company has a market capitalization of $14.48 billion, a price-to-earnings ratio of 73.66 and a beta of 1.11.
Global Payments (NYSE:GPN) last issued its earnings results on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.07. The business had revenue of $847.90 million during the quarter, compared to analyst estimates of $837.76 million. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. Global Payments’s revenue was up 18.4% on a year-over-year basis. During the same period in the prior year, the company posted $0.76 earnings per share. Equities analysts expect that Global Payments will post $3.95 earnings per share for the current year.
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The company also recently declared a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, September 14th. Global Payments’s dividend payout ratio is 3.07%.
In related news, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction dated Tuesday, June 13th. The stock was sold at an average price of $90.00, for a total value of $54,000.00. Following the transaction, the director now owns 41,875 shares in the company, valued at $3,768,750. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, EVP Guido Francesco Sacchi sold 25,927 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $95.22, for a total value of $2,468,768.94. Following the completion of the transaction, the executive vice president now owns 34,622 shares in the company, valued at approximately $3,296,706.84. The disclosure for this sale can be found here. In the last quarter, insiders sold 133,549 shares of company stock worth $12,611,401. 0.93% of the stock is owned by company insiders.
A number of institutional investors have recently bought and sold shares of the stock. Lord Abbett & CO. LLC boosted its holdings in Global Payments by 50.0% in the second quarter. Lord Abbett & CO. LLC now owns 420,429 shares of the business services provider’s stock valued at $37,973,000 after acquiring an additional 140,109 shares during the last quarter. Toronto Dominion Bank boosted its holdings in Global Payments by 25.7% in the second quarter. Toronto Dominion Bank now owns 51,654 shares of the business services provider’s stock valued at $4,665,000 after acquiring an additional 10,551 shares during the last quarter. Dynamic Technology Lab Private Ltd boosted its holdings in Global Payments by 9.4% in the second quarter. Dynamic Technology Lab Private Ltd now owns 3,283 shares of the business services provider’s stock valued at $297,000 after acquiring an additional 283 shares during the last quarter. Sterling Capital Management LLC boosted its holdings in Global Payments by 3.1% in the second quarter. Sterling Capital Management LLC now owns 120,209 shares of the business services provider’s stock valued at $10,857,000 after acquiring an additional 3,621 shares during the last quarter. Finally, Ameritas Investment Partners Inc. boosted its holdings in Global Payments by 0.4% in the second quarter. Ameritas Investment Partners Inc. now owns 17,368 shares of the business services provider’s stock valued at $1,567,000 after acquiring an additional 65 shares during the last quarter. Institutional investors and hedge funds own 97.87% 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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