Deutsche Bank AG restated their buy rating on shares of Global Payments Inc. (NYSE:GPN) in a research note released on Tuesday. The brokerage currently has a $115.00 target price on the business services provider’s stock, up from their prior target price of $100.00.
GPN has been the topic of several other research reports. Robert W. Baird increased their price target 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. J P Morgan Chase & Co increased their price target on shares of Global Payments from $106.00 to $107.00 and gave the stock an overweight rating in a research note on Tuesday, September 12th. Credit Suisse Group restated an outperform rating on shares of Global Payments in a research note on Tuesday, September 5th. Royal Bank Of Canada restated a buy rating and set a $90.00 price target on shares of Global Payments in a research note on Friday, July 7th. Finally, Zacks Investment Research upgraded shares of Global Payments from a hold rating to a buy rating and set a $101.00 target price on the stock in a research note on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $101.01.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.07. Global Payments had a net margin of 6.65% and a return on equity of 18.32%. The company had revenue of $847.90 million for the quarter, compared to analyst estimates of $837.76 million. During the same quarter in the prior year, the business posted $0.76 EPS. Global Payments’s quarterly revenue was up 18.4% on a year-over-year basis.
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The company also recently disclosed a quarterly dividend, which was paid on Friday, September 29th. Shareholders of record on Friday, September 15th were paid a dividend of $0.01 per share. The ex-dividend date was 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 2.45%.
In other Global Payments news, Director Alan M. Silberstein sold 600 shares of the stock in a transaction dated Tuesday, July 18th. The shares were sold at an average price of $90.94, for a total transaction of $54,564.00. Following the sale, the director now directly owns 47,893 shares in the company, valued at $4,355,389.42. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the stock in a transaction dated Thursday, October 12th. The stock was sold at an average price of $99.82, for a total transaction of $2,595,320.00. The disclosure for this sale can be found here. Insiders have sold 162,949 shares of company stock worth $15,584,831 over the last quarter. Corporate insiders own 0.93% of the company’s stock.
A number of institutional investors have recently made changes to their positions in GPN. Sun Life Financial INC grew its stake in Global Payments by 15,728.6% during the second quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock worth $100,000 after buying an additional 1,101 shares in the last quarter. Thompson Davis & CO. Inc. grew its stake in Global Payments by 0.8% during the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after buying an additional 10 shares in the last quarter. Intellectus Partners LLC acquired a new stake in Global Payments during the second quarter worth about $128,000. Commonwealth Bank of Australia grew its stake in Global Payments by 13.6% during the second quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock worth $131,000 after buying an additional 176 shares in the last quarter. Finally, Stephens Inc. AR acquired a new stake in Global Payments during the second quarter worth about $143,000. Hedge funds and other institutional investors 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.
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