Robert W. Baird Reiterates “Outperform” Rating for Global Payments Inc. (GPN)
GPN has been the subject of several other reports. William Blair reaffirmed an outperform rating on shares of Global Payments in a research note on Tuesday, September 27th. 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 report on Wednesday, June 29th. JPMorgan Chase & Co. reiterated a buy rating and set a $83.00 price target on shares of Global Payments in a research report on Friday, July 29th. Oppenheimer Holdings Inc. reiterated an outperform rating and set a $85.00 price target on shares of Global Payments in a research report on Wednesday, September 28th. Finally, Deutsche Bank AG reiterated a buy rating and set a $79.00 price target (up from $72.00) on shares of Global Payments in a research report on Tuesday, July 12th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the company’s stock. The stock has a consensus rating of Buy and an average price target of $77.92.
Shares of Global Payments (NYSE:GPN) opened at 76.01 on Tuesday. The company has a 50-day moving average price of $75.90 and a 200-day moving average price of $74.02. The company has a market capitalization of $11.68 billion, a P/E ratio of 39.12 and a beta of 1.09. Global Payments has a 12 month low of $51.29 and a 12 month high of $79.93.
Global Payments (NYSE:GPN) last announced its earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.03. The business earned $939.50 million during the quarter. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The company’s quarterly revenue was up 52.2% compared to the same quarter last year. During the same period in the previous year, the company earned $0.79 earnings per share. On average, analysts forecast that Global Payments will post $3.48 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, November 25th. Shareholders of record on Friday, November 11th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.05%. The ex-dividend date of this dividend is Tuesday, November 8th. Global Payments’s dividend payout ratio is currently 2.06%.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the stock in a transaction dated Monday, September 19th. The stock was sold at an average price of $74.73, for a total value of $485,745.00. Following the sale, the director now owns 349,063 shares of the company’s stock, valued at approximately $26,085,477.99. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William I. Jacobs sold 600 shares of the stock in a transaction dated Wednesday, July 13th. The shares were sold at an average price of $75.80, for a total value of $45,480.00. Following the completion of the sale, the director now directly owns 44,716 shares in the company, valued at approximately $3,389,472.80. The disclosure for this sale can be found here. 1.10% of the stock is owned by company insiders.
A number of large investors have recently bought and sold shares of GPN. Acrospire Investment Management LLC raised its stake in 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 in the last quarter. Financial Architects Inc increased its position in 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 Global Payments during the second quarter worth approximately $139,000. IFP Advisors Inc increased its position in 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 Global Payments during the second quarter worth approximately $168,000. 96.56% of the stock is currently 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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