Global Payments Inc. (GPN) Stock Rating Upgraded by Wells Fargo & Company
Wells Fargo & Company upgraded shares of Global Payments Inc. (NYSE:GPN) from a market perform rating to an outperform rating in a research report sent to investors on Friday morning, MarketBeat reports. They currently have $110.00 target price on the business services provider’s stock.
Several other analysts also recently commented on the company. Compass Point downgraded Global Payments from a buy rating to a neutral rating and reduced their target price for the company from $95.72 to $64.63 in a research note on Friday. Barclays PLC raised their target price on Global Payments from $98.00 to $105.00 and gave the company an overweight rating in a research note on Friday. Royal Bank Of Canada reduced their target price on Global Payments from $103.00 to $90.00 and set an outperform rating for the company in a research note on Friday. Keefe, Bruyette & Woods restated a buy rating and issued a $100.00 target price on shares of Global Payments in a research note on Thursday, August 3rd. Finally, William Blair restated an outperform rating on shares of Global Payments in a research note on Monday, July 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and eighteen have issued a buy rating to the stock. The company has a consensus rating of Buy and a consensus price target of $93.09.
Shares of Global Payments (NYSE:GPN) opened at 96.76 on Friday. The stock has a 50 day moving average price of $91.38 and a 200-day moving average price of $84.38. The company has a market capitalization of $14.75 billion, a price-to-earnings ratio of 76.13 and a beta of 1.09. Global Payments has a one year low of $64.63 and a one year high of $97.94.
Global Payments (NYSE:GPN) last issued its earnings results on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.07. The company had revenue of $847.90 million during the quarter, compared to the consensus estimate of $837.76 million. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The firm’s revenue for the quarter was up 18.4% compared to the same quarter last year. During the same period last year, the business posted $0.76 EPS. On average, equities research analysts expect that Global Payments will post $3.89 EPS for the current year.
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The company also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be given a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, September 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Global Payments’s dividend payout ratio is currently 3.07%.
In other Global Payments news, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction that occurred on Monday, May 15th. The shares were sold at an average price of $87.72, for a total transaction of $52,632.00. Following the transaction, the director now owns 42,475 shares of the company’s stock, valued at approximately $3,725,907. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Robert H. B. Baldwin, Jr. sold 10,000 shares of Global Payments stock in a transaction that occurred on Tuesday, July 25th. The stock was sold at an average price of $95.00, for a total transaction of $950,000.00. Following the transaction, the director now directly owns 183,177 shares in the company, valued at approximately $17,401,815. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,702 shares of company stock worth $2,847,076. Insiders own 0.93% of the company’s stock.
Several institutional investors have recently bought and sold shares of the company. GHP Investment Advisors Inc. boosted its position in Global Payments by 1.5% in the second quarter. GHP Investment Advisors Inc. now owns 28,726 shares of the business services provider’s stock valued at $2,595,000 after buying an additional 417 shares in the last quarter. Great Lakes Advisors LLC bought a new stake in Global Payments during the second quarter worth approximately $1,659,000. Usca Ria LLC bought a new stake in Global Payments during the second quarter worth approximately $203,000. Aviva PLC boosted its stake in Global Payments by 0.6% in the second quarter. Aviva PLC now owns 93,792 shares of the business services provider’s stock worth $8,472,000 after buying an additional 560 shares during the period. Finally, Sumitomo Mitsui Trust Holdings Inc. boosted its stake in Global Payments by 0.8% in the second quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 424,631 shares of the business services provider’s stock worth $38,353,000 after buying an additional 3,167 shares during the period. 98.70% of the stock is currently owned by hedge funds and other 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 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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