Global Payments Inc. (GPN) Stock Price Down 3.6%
Shares of Global Payments Inc. (NYSE:GPN) traded down 3.6% during trading on Friday . The company traded as low as $75.00 and last traded at $75.40, with a volume of 1,740,566 shares changing hands. The stock had previously closed at $78.19.
A number of analysts have recently commented on the company. Nomura cut their price target on Global Payments from $65.00 to $64.00 and set a “reduce” rating on the stock in a report on Friday, June 3rd. Barclays PLC upped their target price on Global Payments from $73.00 to $75.00 and gave the stock an “equal weight” rating in a report on Friday. JPMorgan Chase & Co. reiterated a “buy” rating and set a $83.00 target price on shares of Global Payments in a report on Friday. Keefe, Bruyette & Woods upped their target price on Global Payments from $88.00 to $90.00 and gave the stock an “outperform” rating in a report on Friday. Finally, Zacks Investment Research upgraded Global Payments from a “hold” rating to a “buy” rating and set a $86.00 target price on the stock in a report on Tuesday, May 24th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the company’s stock. Global Payments currently has an average rating of “Buy” and a consensus target price of $75.91.
The company’s 50-day moving average price is $74.58 and its 200 day moving average price is $68.24. The stock has a market capitalization of $11.53 billion and a P/E ratio of 36.60.
Global Payments (NYSE:GPN) last posted its quarterly earnings results on Thursday, July 28th. The company reported $0.73 EPS for the quarter, hitting analysts’ consensus estimates of $0.73. During the same period last year, the firm posted $1.22 EPS. The company earned $747.10 million during the quarter, compared to the consensus estimate of $568.81 million. The company’s revenue for the quarter was up 5.7% compared to the same quarter last year. On average, equities analysts predict 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. Investors of record on Friday, August 12th will be issued a $0.01 dividend. The ex-dividend date is Wednesday, August 10th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%.
In related news, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction that occurred on Monday, June 13th. The shares were sold at an average price of $73.73, for a total value of $44,238.00. Following the completion of the transaction, the director now directly owns 45,906 shares in the company, valued at approximately $3,384,649.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert H. B. Baldwin, Jr. sold 6,500 shares of Global Payments stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $76.61, for a total transaction of $497,965.00. Following the completion of the transaction, the director now owns 362,063 shares of the company’s stock, valued at $27,737,646.43. The disclosure for this sale can be found here.
Several hedge funds and institutional investors have recently added to or reduced their stakes in the stock. State of Wisconsin Investment Board raised its position in Global Payments by 98.0% in the fourth quarter. State of Wisconsin Investment Board now owns 98,390 shares of the company’s stock worth $6,347,000 after buying an additional 48,705 shares during the period. Vanguard Group Inc. raised its position in Global Payments by 112.0% in the fourth quarter. Vanguard Group Inc. now owns 9,369,157 shares of the company’s stock worth $604,403,000 after buying an additional 4,950,084 shares during the period. Morgan Stanley raised its position in Global Payments by 28.2% in the fourth quarter. Morgan Stanley now owns 336,984 shares of the company’s stock worth $21,740,000 after buying an additional 74,098 shares during the period. Bank of Montreal Can raised its position in Global Payments by 97.6% in the fourth quarter. Bank of Montreal Can now owns 114,338 shares of the company’s stock worth $7,376,000 after buying an additional 56,486 shares during the period. Finally, Wells Fargo & Company MN raised its position in Global Payments by 74.8% in the fourth quarter. Wells Fargo & Company MN now owns 2,265,092 shares of the company’s stock worth $146,121,000 after buying an additional 969,442 shares during the period.
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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