Global Payments Inc. (GPN) Shares Gap Up to $75.42
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 changing hands.
A number of equities research analysts recently weighed in on the stock. Nomura decreased their price objective on shares of Global Payments from $65.00 to $64.00 and set a “reduce” rating for the company in a report on Friday, June 3rd. Barclays PLC lifted their price objective on shares of Global Payments from $73.00 to $75.00 and gave the company an “equal weight” rating in a report on Friday, July 29th. JPMorgan Chase & Co. reiterated a “buy” rating and set a $83.00 price objective on shares of Global Payments in a report on Friday, July 29th. Keefe, Bruyette & Woods lifted their price objective on shares of Global Payments from $88.00 to $90.00 and gave the company an “outperform” rating in a report on Friday, July 29th. Finally, Zacks Investment Research upgraded shares of Global Payments from a “hold” rating to a “buy” rating and set a $86.00 price objective for the company in a report on Tuesday, May 24th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and fifteen have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average target price of $75.91.
The stock has a market capitalization of $11.71 billion and a PE ratio of 37.38. The stock’s 50-day moving average is $75.18 and its 200-day moving average is $70.38.
Global Payments (NYSE:GPN) last issued its 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 last year, the business earned $1.22 EPS. The firm earned $747.10 million during the quarter, compared to analyst estimates of $568.81 million. The firm’s revenue was up 5.7% compared to the same quarter last year. On average, equities analysts anticipate that Global Payments Inc. will post $3.47 earnings per share for the current year.
The company also recently announced 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 of this dividend is Wednesday, August 10th. This represents a $0.04 annualized dividend and a yield of 0.05%.
In other Global Payments news, Director William I. Jacobs sold 600 shares of the 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 transaction, the director now directly owns 45,906 shares in the company, valued at $3,384,649.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO David E. Mangum sold 8,400 shares of the stock in a transaction that occurred on Monday, August 8th. The shares were sold at an average price of $74.71, for a total transaction of $627,564.00. Following the completion of the transaction, the chief operating officer now owns 172,060 shares in the company, valued at $12,854,602.60. The disclosure for this sale can be found here.
A number of institutional investors recently made changes to their positions in the stock. US Bancorp DE raised its position in shares of Global Payments by 111.2% in the fourth quarter. US Bancorp DE now owns 32,802 shares of the company’s stock valued at $2,116,000 after buying an additional 17,271 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management CO. LTD. bought a new position in shares of Global Payments during the fourth quarter valued at approximately $1,046,000. BNP Paribas Arbitrage SA raised its position in shares of Global Payments by 113.2% in the fourth quarter. BNP Paribas Arbitrage SA now owns 307,262 shares of the company’s stock valued at $19,821,000 after buying an additional 163,130 shares in the last quarter. Employees Retirement System of Texas raised its position in shares of Global Payments by 100.0% in the fourth quarter. Employees Retirement System of Texas now owns 90,000 shares of the company’s stock valued at $5,806,000 after buying an additional 45,000 shares in the last quarter. Finally, BlackRock Advisors LLC raised 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.
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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