Global Payments’ (GPN) Buy Rating Reaffirmed at Deutsche Bank AG
Deutsche Bank AG reiterated their buy rating on shares of Global Payments Inc. (NYSE:GPN) in a research note published on Thursday morning. They currently have a $85.00 price objective on the stock, up from their prior price objective of $79.00.
GPN has been the topic of a number of other reports. Robert W. Baird reaffirmed an outperform rating and set a $85.00 target price on shares of Global Payments in a research report on Tuesday, September 6th. Zacks Investment Research raised Global Payments from a hold rating to a buy rating and set a $86.00 price target on the stock in a research report on Monday. William Blair reissued an outperform rating on shares of Global Payments in a research report on Tuesday, September 27th. Oppenheimer Holdings Inc. reissued an outperform rating and set a $85.00 price target on shares of Global Payments in a research report on Wednesday, September 28th. Finally, Goldman Sachs Group Inc. raised Global Payments from a neutral rating to a buy rating and upped their price target for the company from $80.00 to $88.00 in a research report on Thursday, September 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have given a buy rating to the company’s stock. Global Payments presently has an average rating of Buy and a consensus target price of $77.92.
Global Payments (NYSE:GPN) traded down 4.653% during trading on Thursday, hitting $75.305. The stock had a trading volume of 894,048 shares. The company has a 50 day moving average of $75.84 and a 200-day moving average of $73.90. Global Payments has a 12-month low of $51.29 and a 12-month high of $79.93. The company has a market cap of $11.57 billion, a P/E ratio of 36.914 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, topping analysts’ consensus estimates of $0.83 by $0.03. The company 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%. The firm’s revenue for the quarter was up 52.2% on a year-over-year basis. During the same period last year, the firm earned $0.79 earnings per share. On average, equities analysts predict that Global Payments will post $3.48 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Stockholders 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 dividend yield of 0.05%. The ex-dividend date is Tuesday, November 8th. Global Payments’s dividend payout ratio is currently 2.06%.
In other news, insider David E. Mangum sold 88,938 shares of Global Payments stock in a transaction on Tuesday, August 9th. The shares were sold at an average price of $75.07, for a total transaction of $6,676,575.66. Following the completion of the sale, the insider now directly owns 172,060 shares of the company’s stock, valued at approximately $12,916,544.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction on Wednesday, July 13th. The stock was sold at an average price of $75.80, for a total transaction of $45,480.00. Following the sale, the director now directly owns 44,716 shares of the company’s stock, valued at $3,389,472.80. The disclosure for this sale can be found here. Insiders own 1.10% of the company’s stock.
Several hedge funds have recently bought and sold shares of the company. Acrospire Investment Management LLC boosted its position in shares of Global Payments by 77.8% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the company’s stock worth $114,000 after buying an additional 700 shares during the last quarter. Financial Architects Inc boosted its position in shares of Global Payments by 1,305.2% in the second quarter. Financial Architects Inc now owns 1,616 shares of the company’s stock worth $115,000 after buying an additional 1,501 shares during the last quarter. PineBridge Investments L.P. acquired a new position in shares of Global Payments during the second quarter worth approximately $139,000. IFP Advisors Inc boosted its position in shares of Global Payments by 39.1% in the second quarter. IFP Advisors Inc now owns 2,263 shares of the company’s stock worth $162,000 after buying an additional 636 shares during the last quarter. Finally, Mizuho Asset Management Co. Ltd. acquired a new position in shares of Global Payments during the second quarter worth approximately $168,000. 96.56% of the stock is owned by institutional investors.
About Global Payments
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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