Global Payments’ (GPN) Ourperform Rating Reaffirmed at William Blair
A number of other brokerages have also recently weighed in on GPN. Stifel Nicolaus initiated coverage on Global Payments in a research report on Thursday, June 1st. They issued a buy rating and a $102.00 price target for the company. Wedbush restated an outperform rating and issued a $107.25 price target (up previously from $85.00) on shares of Global Payments in a research report on Tuesday, June 6th. Mizuho initiated coverage on Global Payments in a research report on Tuesday, June 27th. They issued a buy rating and a $105.00 price target for the company. Zacks Investment Research upgraded Global Payments from a hold rating to a buy rating and set a $101.00 price target for the company in a research report on Thursday, July 6th. Finally, Royal Bank Of Canada restated a buy rating and issued a $90.00 price target on shares of Global Payments in a research report on Friday, July 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average price target of $98.26.
Shares of Global Payments (GPN) traded down 0.54% during midday trading on Friday, reaching $95.82. 810,317 shares of the company traded hands. Global Payments has a 1-year low of $64.63 and a 1-year high of $98.14. The stock’s 50-day moving average is $95.36 and its 200-day moving average is $88.50. The stock has a market capitalization of $14.61 billion, a P/E ratio of 74.34 and a beta of 1.11.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.07. The firm had revenue of $847.90 million during the quarter, compared to analysts’ expectations of $837.76 million. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. Global Payments’s revenue was up 18.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.76 earnings per share. Equities analysts predict that Global Payments will post $3.95 EPS for the current fiscal year.
COPYRIGHT VIOLATION WARNING: This article was reported by Daily Political and is the sole property of of Daily Political. If you are viewing this article on another domain, it was copied illegally and reposted in violation of international copyright and trademark law. The correct version of this article can be accessed at https://www.dailypolitical.com/2017/09/23/global-payments-gpn-ourperform-rating-reaffirmed-at-william-blair.html.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, September 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Global Payments’s payout ratio is currently 2.45%.
In related news, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction dated Thursday, July 13th. The stock was sold at an average price of $90.52, for a total transaction of $54,312.00. Following the sale, the director now directly owns 41,275 shares in the company, valued at approximately $3,736,213. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Robert H. B. Baldwin, Jr. sold 4,200 shares of the firm’s stock in a transaction dated Wednesday, July 12th. The shares were sold at an average price of $89.87, for a total value of $377,454.00. Following the sale, the director now owns 195,477 shares in the company, valued at $17,567,517.99. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 141,749 shares of company stock worth $13,421,277. Company insiders own 0.93% of the company’s stock.
Several large investors have recently made changes to their positions in the stock. Comerica Bank increased its holdings in Global Payments by 11.6% during the 1st quarter. Comerica Bank now owns 38,953 shares of the business services provider’s stock worth $3,193,000 after purchasing an additional 4,057 shares during the last quarter. Karp Capital Management Corp purchased a new stake in Global Payments during the 1st quarter worth approximately $2,096,000. Norinchukin Bank The increased its holdings in Global Payments by 6.1% during the 1st quarter. Norinchukin Bank The now owns 9,894 shares of the business services provider’s stock worth $798,000 after purchasing an additional 569 shares during the last quarter. Mitsubishi UFJ Trust & Banking Corp increased its holdings in Global Payments by 5.3% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 318,558 shares of the business services provider’s stock worth $25,701,000 after purchasing an additional 16,055 shares during the last quarter. Finally, Baird Financial Group Inc. purchased a new stake in Global Payments during the 1st quarter worth approximately $437,000. Institutional investors and hedge funds own 97.84% 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.
Receive News & Ratings for Global Payments Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments Inc. and related companies with MarketBeat.com's FREE daily email newsletter.