Several other brokerages also recently commented on GPN. Barclays PLC raised their price target on shares of Global Payments from $75.00 to $85.00 and gave the company an equal weight rating in a report on Friday, September 30th. Nomura raised their price target on shares of Global Payments from $64.00 to $66.00 in a report on Friday, July 29th. Oppenheimer Holdings Inc. reissued an outperform rating and issued a $85.00 price target on shares of Global Payments in a report on Friday, October 7th. Zacks Investment Research raised shares of Global Payments from a hold rating to a buy rating and set a $79.00 price target for the company in a report on Wednesday, June 29th. Finally, William Blair reissued an outperform rating on shares of Global Payments in a report on Tuesday, September 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eighteen have given a buy rating to the stock. Global Payments currently has an average rating of Buy and an average price target of $78.03.
Shares of Global Payments (NYSE:GPN) opened at 73.01 on Thursday. The firm has a market capitalization of $11.22 billion, a P/E ratio of 37.58 and a beta of 1.09. The company has a 50-day moving average price of $75.55 and a 200-day moving average price of $74.64. Global Payments has a 12-month low of $51.29 and a 12-month high of $79.93.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, October 5th. The company reported $0.86 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. Global Payments had a net margin of 8.74% and a return on equity of 22.33%. The business earned $939.50 million during the quarter. During the same quarter in the prior year, the firm posted $0.79 earnings per share. The firm’s quarterly revenue was up 52.2% on a year-over-year basis. Equities analysts predict that Global Payments will post $3.48 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Investors of record on Friday, November 11th will be paid a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a yield of 0.05%. The ex-dividend date is Tuesday, November 8th. Global Payments’s payout ratio is currently 2.06%.
In other news, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction that occurred on Thursday, October 13th. The shares were sold at an average price of $73.22, for a total value of $43,932.00. Following the transaction, the director now owns 44,411 shares in the company, valued at $3,251,773.42. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider David E. Mangum sold 88,938 shares of the company’s stock in a transaction that occurred on Tuesday, August 9th. The stock was sold at an average price of $75.07, for a total transaction of $6,676,575.66. Following the completion of the transaction, the insider now owns 172,060 shares in the company, valued at approximately $12,916,544.20. The disclosure for this sale can be found here. Corporate insiders own 1.10% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of GPN. Acrospire Investment Management LLC increased its position in shares of Global Payments by 77.8% in the second quarter. Acrospire Investment Management LLC now owns 1,600 shares of the company’s stock valued at $114,000 after buying an additional 700 shares in the last quarter. Financial Architects Inc increased its position in shares of Global Payments by 1,305.2% in the second quarter. Financial Architects Inc now owns 1,616 shares of the company’s stock valued at $115,000 after buying an additional 1,501 shares in the last quarter. PineBridge Investments L.P. purchased a new position in shares of Global Payments during the second quarter valued at about $139,000. IFP Advisors Inc increased its position in shares of Global Payments by 39.1% in the second quarter. IFP Advisors Inc now owns 2,263 shares of the company’s stock valued at $162,000 after buying an additional 636 shares in the last quarter. Finally, Mizuho Asset Management Co. Ltd. purchased a new position in shares of Global Payments during the second quarter valued at about $168,000. Hedge funds and other institutional investors own 96.57% of the company’s stock.
Global Payments Company Profile
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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