Global Payments (NYSE:GPN) Sets New 52-Week High on Analyst Upgrade

Global Payments Inc (NYSE:GPN) reached a new 52-week high on Tuesday after Robert W. Baird raised their price target on the stock from $174.00 to $182.00. Robert W. Baird currently has an outperform rating on the stock. Global Payments traded as high as $164.02 and last traded at $163.61, with a volume of 18857 shares trading hands. The stock had previously closed at $163.00.

GPN has been the topic of several other research reports. Atlantic Securities cut Biogen from an “overweight” rating to a “neutral” rating in a report on Thursday, March 21st. Nomura raised their price objective on Global Payments from $94.00 to $105.00 and gave the stock a “reduce” rating in a report on Friday, May 10th. BMO Capital Markets raised their price objective on NFI Group from C$33.00 to C$36.00 in a report on Wednesday, May 29th. Cantor Fitzgerald restated a “hold” rating and set a $8.00 price objective on shares of Pacific Biosciences of California in a report on Friday, May 3rd. Finally, JPMorgan Chase & Co. restated an “overweight” rating and set a $72.00 price objective (up previously from $70.00) on shares of First Solar in a report on Monday, May 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Global Payments currently has a consensus rating of “Buy” and an average target price of $147.97.

In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of the firm’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $146.36, for a total value of $622,030.00. Following the transaction, the director now directly owns 48,382 shares of the company’s stock, valued at $7,081,189.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Alan M. Silberstein sold 700 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $138.96, for a total value of $97,272.00. Following the completion of the transaction, the director now directly owns 40,355 shares in the company, valued at $5,607,730.80. The disclosure for this sale can be found here. Insiders sold 5,650 shares of company stock worth $829,867 in the last quarter. 0.88% of the stock is owned by insiders.



A number of large investors have recently added to or reduced their stakes in the business. Signaturefd LLC raised its position in Global Payments by 7.7% in the first quarter. Signaturefd LLC now owns 1,198 shares of the business services provider’s stock valued at $164,000 after purchasing an additional 86 shares during the period. Conning Inc. increased its position in shares of Global Payments by 3.7% during the first quarter. Conning Inc. now owns 2,510 shares of the business services provider’s stock worth $343,000 after acquiring an additional 90 shares during the last quarter. Northwestern Mutual Investment Management Company LLC increased its position in shares of Global Payments by 0.4% during the first quarter. Northwestern Mutual Investment Management Company LLC now owns 23,948 shares of the business services provider’s stock worth $3,269,000 after acquiring an additional 105 shares during the last quarter. Bessemer Group Inc. increased its position in shares of Global Payments by 35.7% during the fourth quarter. Bessemer Group Inc. now owns 407 shares of the business services provider’s stock worth $43,000 after acquiring an additional 107 shares during the last quarter. Finally, Cornerstone Advisors Inc. increased its position in shares of Global Payments by 114.9% during the first quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock worth $28,000 after acquiring an additional 108 shares during the last quarter. 97.44% of the stock is currently owned by institutional investors.

The firm has a market capitalization of $25.99 billion, a price-to-earnings ratio of 31.62, a PEG ratio of 1.65 and a beta of 1.03. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.25. The firm has a 50-day moving average price of $158.31.

Global Payments (NYSE:GPN) last announced its earnings results on Thursday, May 2nd. The business services provider reported $1.34 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.12. Global Payments had a return on equity of 19.83% and a net margin of 13.69%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. During the same period in the previous year, the company earned $1.13 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. As a group, analysts forecast that Global Payments Inc will post 5.81 EPS for the current year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date was Thursday, June 13th. Global Payments’s payout ratio is 0.77%.

About Global Payments (NYSE:GPN)

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and online reporting services.

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