Stifel Nicolaus Reaffirms Buy Rating for Global Payments Inc. (GPN)
Stifel Nicolaus reaffirmed their buy rating on shares of Global Payments Inc. (NYSE:GPN) in a research note issued to investors on Tuesday. The brokerage currently has a $92.00 price target on the stock, up from their prior price target of $85.00.
A number of other analysts have also commented on GPN. Goldman Sachs Group, Inc. (The) upgraded Global Payments from a neutral rating to a buy rating and lifted their price target for the stock from $80.00 to $88.00 in a report on Thursday, September 15th. William Blair reiterated an outperform rating on shares of Global Payments in a report on Tuesday, September 27th. Oppenheimer Holdings, Inc. reiterated an outperform rating and set a $85.00 price target on shares of Global Payments in a report on Wednesday, September 28th. Barclays PLC lifted their price target on Global Payments from $75.00 to $85.00 and gave the stock an equal weight rating in a report on Friday, September 30th. Finally, Zacks Investment Research upgraded Global Payments from a hold rating to a buy rating and set a $86.00 price target on the stock in a report on Monday, October 3rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eighteen have issued a buy rating to the company’s stock. Global Payments currently has an average rating of Buy and a consensus price target of $83.04.
Global Payments (NYSE:GPN) traded down 0.32% during mid-day trading on Tuesday, hitting $77.35. The stock had a trading volume of 282,540 shares. The stock has a market capitalization of $11.78 billion, a P/E ratio of 46.74 and a beta of 1.04. The company’s 50 day moving average is $71.68 and its 200-day moving average is $73.61. Global Payments has a 52 week low of $51.29 and a 52 week high of $80.88.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Monday, January 9th. The company reported $0.89 EPS for the quarter, topping the Zacks’ consensus estimate of $0.84 by $0.05. The business had revenue of $817.20 million for the quarter. Global Payments had a return on equity of 19.50% and a net margin of 7.28%. The business’s revenue was up 30.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.76 earnings per share. On average, analysts expect that Global Payments will post $3.45 EPS for the current fiscal year.
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The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 24th. Stockholders of record on Friday, February 10th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. The ex-dividend date is Wednesday, February 8th. Global Payments’s payout ratio is currently 2.41%.
In other news, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of the company’s stock in a transaction dated Monday, December 19th. The stock was sold at an average price of $71.03, for a total value of $461,695.00. Following the completion of the transaction, the director now directly owns 330,752 shares in the company, valued at approximately $23,493,314.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 21,000 shares of the company’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $80.00, for a total value of $1,680,000.00. Following the completion of the transaction, the director now owns 305,752 shares of the company’s stock, valued at $24,460,160. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.
Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Global Payments by 44.3% in the second quarter. Vanguard Group Inc. now owns 13,969,774 shares of the company’s stock worth $997,163,000 after buying an additional 4,289,181 shares during the last quarter. State Street Corp boosted its position in Global Payments by 35.8% in the second quarter. State Street Corp now owns 5,512,377 shares of the company’s stock worth $393,482,000 after buying an additional 1,454,637 shares during the last quarter. BlackRock Advisors LLC boosted its position in Global Payments by 219.6% in the second quarter. BlackRock Advisors LLC now owns 2,030,268 shares of the company’s stock worth $144,920,000 after buying an additional 1,394,995 shares during the last quarter. Massachusetts Financial Services Co. MA boosted its position in Global Payments by 30.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,367,430 shares of the company’s stock worth $383,127,000 after buying an additional 1,259,406 shares during the last quarter. Finally, BlackRock Investment Management LLC boosted its position in Global Payments by 327.3% in the second quarter. BlackRock Investment Management LLC now owns 1,643,705 shares of the company’s stock worth $117,328,000 after buying an additional 1,259,071 shares during the last quarter. Hedge funds and other institutional investors own 94.12% of the company’s stock.
About Global Payments
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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