Shares of Global Payments Inc. (NYSE:GPN) gapped up before the market opened on Tuesday . The stock had previously closed at $75.16, but opened at $75.42. Global Payments shares last traded at $76.07, with a volume of 415,046 shares trading hands.

Several research firms have weighed in on GPN. JPMorgan Chase & Co. restated a “buy” rating and set a $83.00 target price on shares of Global Payments in a report on Friday, July 29th. Keefe, Bruyette & Woods raised their target price on Global Payments from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 29th. Nomura raised their target price on Global Payments from $64.00 to $66.00 in a report on Friday, July 29th. Barclays PLC raised their target price on Global Payments from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, July 29th. 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 report on Tuesday, July 12th. One analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $75.91.

The firm has a 50-day moving average of $75.28 and a 200-day moving average of $70.42. The company has a market capitalization of $11.76 billion and a PE ratio of 37.507.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.73 earnings per share for the quarter, meeting the Thomson Reuters’ consensus estimate of $0.73. During the same period in the prior year, the company earned $1.22 earnings per share. The company earned $747.10 million during the quarter, compared to the consensus estimate of $568.81 million. The firm’s revenue was up 5.7% compared to the same quarter last year. On average, equities analysts expect that Global Payments Inc. will post $3.47 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, August 26th. Shareholders of record on Friday, August 12th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Wednesday, August 10th. This represents a $0.04 annualized dividend and a yield of 0.05%.

In other news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the firm’s stock in a transaction that occurred on Thursday, August 18th. The shares were sold at an average price of $74.34, for a total transaction of $483,210.00. Following the transaction, the director now directly owns 355,563 shares of the company’s stock, valued at $26,432,553.42. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO David E. Mangum sold 8,400 shares of the firm’s stock in a transaction that occurred on Monday, August 8th. The stock was sold at an average price of $74.71, for a total transaction of $627,564.00. Following 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.

Several hedge funds and institutional investors have made changes to their positions in GPN. Dimensional Fund Advisors LP boosted its position in shares of Global Payments by 101.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 815,399 shares of the company’s stock valued at $52,605,000 after buying an additional 410,006 shares in the last quarter. BlackRock Advisors LLC boosted its position in shares of Global Payments by 747.6% in the fourth quarter. BlackRock Advisors LLC now owns 571,626 shares of the company’s stock valued at $36,875,000 after buying an additional 504,183 shares in the last quarter. Morgan Stanley boosted its position in shares of Global Payments by 28.2% in the fourth quarter. Morgan Stanley now owns 336,984 shares of the company’s stock valued at $21,740,000 after buying an additional 74,098 shares in the last quarter. American International Group Inc. boosted its position in shares of Global Payments by 107.5% in the fourth quarter. American International Group Inc. now owns 268,678 shares of the company’s stock valued at $17,332,000 after buying an additional 139,191 shares in the last quarter. Finally, State of Tennessee Treasury Department boosted its position in shares of Global Payments by 100.0% in the fourth quarter. State of Tennessee Treasury Department now owns 229,600 shares of the company’s stock valued at $14,812,000 after buying an additional 114,800 shares in the last quarter.

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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