Nomura restated their sell rating on shares of Global Payments Inc. (NYSE:GPN) in a research report sent to investors on Monday, October 16th. Nomura currently has a $83.00 target price on the business services provider’s stock.
Several other equities analysts have also recently commented on the company. Mizuho restated a buy rating and set a $105.00 target price on shares of Global Payments in a research report on Sunday, October 15th. Barclays PLC boosted their target price on Global Payments from $105.00 to $116.00 and gave the stock an overweight rating in a research report on Wednesday, October 11th. Zacks Investment Research upgraded Global Payments from a hold rating to a buy rating and set a $110.00 target price for the company in a research report on Wednesday, October 11th. Deutsche Bank AG restated a buy rating and set a $115.00 target price (up from $100.00) on shares of Global Payments in a research report on Tuesday, October 10th. Finally, Buckingham Research initiated coverage on Global Payments in a report on Monday, October 2nd. They issued a buy rating and a $113.00 price objective for the company. Two analysts have rated the stock with a sell rating, three have issued a hold rating and twenty-two have assigned a buy rating to the stock. The stock presently has an average rating of Buy and a consensus target price of $100.32.
Global Payments (GPN) opened at 100.92 on Monday. The firm’s 50 day moving average price is $96.81 and its 200-day moving average price is $91.74. The company has a market capitalization of $15.39 billion, a PE ratio of 78.29 and a beta of 1.11. Global Payments has a one year low of $64.63 and a one year high of $101.00.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The company had revenue of $847.90 million during the quarter, compared to analysts’ expectations of $837.76 million. During the same period in the previous year, the business earned $0.76 earnings per share. The firm’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities analysts forecast that Global Payments will post $3.95 earnings per share for the current fiscal year.
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The company also recently declared a quarterly dividend, which was paid on Friday, September 29th. Stockholders of record on Friday, September 15th were issued a dividend of $0.01 per share. The ex-dividend date of this dividend was Thursday, September 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.04%. Global Payments’s payout ratio is 2.45%.
In related news, Director Robert H. B. Baldwin, Jr. sold 5,600 shares of the firm’s stock in a transaction on Tuesday, August 15th. The stock was sold at an average price of $94.58, for a total value of $529,648.00. Following the transaction, the director now directly 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 available through the SEC website. Also, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction on Wednesday, October 18th. The stock was sold at an average price of $97.69, for a total value of $58,614.00. Following the completion of the transaction, the director now directly owns 46,093 shares in the company, valued at $4,502,825.17. The disclosure for this sale can be found here. Insiders have sold a total of 153,549 shares of company stock worth $14,698,521 over the last three months. Insiders own 0.93% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GPN. Janus Henderson Group PLC raised its holdings in Global Payments by 11,779.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,292,798 shares of the business services provider’s stock worth $207,086,000 after purchasing an additional 2,273,498 shares during the period. JPMorgan Chase & Co. raised its holdings in Global Payments by 162.0% in the 2nd quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock worth $296,636,000 after purchasing an additional 2,030,880 shares during the period. Capital International Investors bought a new position in Global Payments in the 2nd quarter worth $173,900,000. Nomura Asset Management Co. Ltd. raised its holdings in Global Payments by 2,062.0% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 758,483 shares of the business services provider’s stock worth $61,195,000 after purchasing an additional 723,400 shares during the period. Finally, Capital Guardian Trust Co. bought a new position in Global Payments in the 2nd quarter worth $49,793,000. 97.86% of the stock is currently owned by 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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