Global Payments Inc. (GPN) Lowered to Hold at BidaskClub
BidaskClub lowered shares of Global Payments Inc. (NYSE:GPN) from a buy rating to a hold rating in a research note published on Saturday.
Other equities analysts have also recently issued reports about the company. BMO Capital Markets lifted their target price on Global Payments from $91.00 to $93.00 and gave the stock an outperform rating in a report on Friday, May 5th. Keefe, Bruyette & Woods restated a buy rating on shares of Global Payments in a report on Monday, May 15th. Royal Bank Of Canada lowered their price target on Global Payments from $103.00 to $90.00 and set an outperform rating on the stock in a report on Friday, August 4th. Stifel Nicolaus reiterated a buy rating and set a $103.00 price target (up previously from $102.00) on shares of Global Payments in a report on Friday, August 4th. Finally, Cantor Fitzgerald reiterated a buy rating and set a $97.00 price target (up previously from $93.00) on shares of Global Payments in a report on Monday, May 8th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and eighteen have issued a buy rating to the company’s stock. Global Payments currently has a consensus rating of Buy and an average price target of $94.58.
Shares of Global Payments (NYSE GPN) traded down 0.97% on Friday, reaching $93.35. The company’s stock had a trading volume of 669,249 shares. The company has a 50 day moving average of $93.74 and a 200 day moving average of $86.42. The stock has a market capitalization of $14.23 billion, a P/E ratio of 72.42 and a beta of 1.09. Global Payments has a 1-year low of $64.63 and a 1-year high of $97.99.
Global Payments (NYSE:GPN) last issued its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.87 by $0.07. The business had revenue of $847.90 million for 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%. The company’s quarterly revenue was up 18.4% on a year-over-year basis. During the same period in the previous year, the firm posted $0.76 EPS. Equities research analysts expect that Global Payments will post $3.95 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors 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 dividend on an annualized basis and a yield of 0.04%. Global Payments’s payout ratio is 3.07%.
In other Global Payments news, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $89.91, for a total value of $53,946.00. Following the completion of the sale, the director now owns 48,493 shares of the company’s stock, valued at $4,360,005.63. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider David E. Mangum sold 75,794 shares of the business’s stock in a transaction dated Thursday, August 10th. The stock was sold at an average price of $94.51, for a total value of $7,163,290.94. Following the completion of the sale, the insider now directly owns 112,930 shares of the company’s stock, valued at approximately $10,673,014.30. The disclosure for this sale can be found here. Insiders sold 146,451 shares of company stock valued at $13,808,715 in the last ninety days. Insiders own 0.93% of the company’s stock.
Hedge funds have recently made changes to their positions in the company. Point72 Asia Hong Kong Ltd bought a new stake in shares of Global Payments during the first quarter worth $200,000. IFP Advisors Inc boosted its stake in shares of Global Payments by 9.3% in the first quarter. IFP Advisors Inc now owns 6,420 shares of the business services provider’s stock worth $518,000 after buying an additional 545 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of Global Payments during the second quarter worth $246,000. Commerzbank Aktiengesellschaft FI bought a new stake in shares of Global Payments during the first quarter worth $233,000. Finally, OLD Mutual Customised Solutions Proprietary Ltd. boosted its stake in shares of Global Payments by 84.8% in the first quarter. OLD Mutual Customised Solutions Proprietary Ltd. now owns 2,033 shares of the business services provider’s stock worth $164,000 after buying an additional 933 shares in the last quarter. 98.62% of the stock is 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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