Stifel Nicolaus Reaffirms Buy Rating for Global Payments Inc. (GPN)
Stifel Nicolaus restated their buy rating on shares of Global Payments Inc. (NYSE:GPN) in a research note published on Thursday morning, MarketBeat Ratings reports. The firm currently has a $121.00 target price on the business services provider’s stock, up from their prior target price of $103.00.
GPN has been the topic of a number of other reports. Piper Jaffray Companies increased their price objective on shares of Global Payments to $105.00 and gave the stock a neutral rating in a research note on Wednesday. Robert W. Baird increased their price objective on shares of Global Payments from $106.00 to $110.00 and gave the stock an outperform rating in a research note on Thursday, September 28th. Nomura reissued a sell rating and issued a $83.00 target price on shares of Global Payments in a report on Monday, October 16th. Morgan Stanley increased their target price on shares of Global Payments from $98.00 to $106.00 and gave the stock an equal weight rating in a report on Thursday, November 2nd. Finally, J P Morgan Chase & Co increased their target price on shares of Global Payments from $106.00 to $107.00 and gave the stock an overweight rating in a report on Tuesday, September 12th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-four have given a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $104.56.
Shares of Global Payments (GPN) traded down $0.47 during trading on Thursday, reaching $98.85. 1,142,800 shares of the company’s stock were exchanged, compared to its average volume of 1,117,132. The firm has a market capitalization of $15,731.19, a P/E ratio of 26.57, a price-to-earnings-growth ratio of 1.81 and a beta of 1.14. The company has a debt-to-equity ratio of 1.27, a current ratio of 1.14 and a quick ratio of 1.20. Global Payments has a 12-month low of $64.63 and a 12-month high of $104.83.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.03 by $0.12. The firm had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $917.31 million. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.89 earnings per share. research analysts forecast that Global Payments will post 3.75 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.04 annualized dividend and a yield of 0.04%. Global Payments’s payout ratio is 2.23%.
In other news, Director Robert H. B. Baldwin, Jr. sold 5,600 shares of the firm’s stock in a transaction that occurred on Tuesday, August 15th. The shares were sold at an average price of $94.58, for a total transaction of $529,648.00. Following the completion of the sale, the director now owns 178,177 shares of the company’s stock, valued at approximately $16,851,980.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction that occurred on Wednesday, October 18th. The stock was sold at an average price of $97.69, for a total transaction of $58,614.00. Following the sale, the director now directly owns 46,093 shares of the company’s stock, valued at approximately $4,502,825.17. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,755 shares of company stock valued at $7,535,230. Company insiders own 0.93% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Wells Fargo & Company MN grew its position in shares of Global Payments by 9.3% during the 3rd quarter. Wells Fargo & Company MN now owns 1,679,426 shares of the business services provider’s stock worth $159,596,000 after buying an additional 142,950 shares during the period. Zeke Capital Advisors LLC acquired a new stake in shares of Global Payments during the 3rd quarter worth approximately $215,000. Paradice Investment Management LLC grew its position in shares of Global Payments by 2.0% during the 3rd quarter. Paradice Investment Management LLC now owns 647,995 shares of the business services provider’s stock worth $61,579,000 after buying an additional 12,622 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Global Payments by 9.5% during the 3rd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,401 shares of the business services provider’s stock worth $1,178,000 after buying an additional 1,072 shares during the period. Finally, Trexquant Investment LP acquired a new stake in shares of Global Payments during the 3rd quarter worth approximately $1,865,000. 98.10% of the stock is owned by institutional investors.
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.
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 Analyst Ratings Network's FREE daily email newsletter.