Robert W. Baird Raises Global Payments (NYSE:GPN) Price Target to $182.00

Global Payments (NYSE:GPN) had its price target raised by Robert W. Baird from $174.00 to $182.00 in a research note released on Tuesday morning, The Fly reports. They currently have an outperform rating on the business services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Morgan Stanley lifted their price objective on shares of SYSCO from $69.00 to $72.00 and gave the company an equal weight rating in a research note on Tuesday, May 7th. BMO Capital Markets lifted their price objective on shares of NFI Group from C$33.00 to C$36.00 in a research note on Wednesday, May 29th. JPMorgan Chase & Co. restated an overweight rating and set a $72.00 price objective (up from $70.00) on shares of First Solar in a research note on Monday, May 6th. KeyCorp lifted their price objective on shares of SBA Communications from $195.00 to $215.00 and gave the company an overweight rating in a research note on Tuesday, April 30th. They noted that the move was a valuation call. Finally, Guggenheim restated a hold rating on shares of Burlington Stores in a research note on Thursday, May 30th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus target price of $147.97.

Shares of GPN opened at $164.13 on Tuesday. Global Payments has a 1 year low of $94.81 and a 1 year high of $166.13. The firm has a market capitalization of $25.76 billion, a P/E ratio of 31.62, a price-to-earnings-growth ratio of 1.66 and a beta of 1.03. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.25. The company’s fifty day moving average price is $158.31.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. Global Payments had a net margin of 13.69% and a return on equity of 19.83%. The company had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same quarter in the previous year, the company posted $1.13 earnings per share. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. On average, equities analysts expect that Global Payments will post 5.81 EPS for the current fiscal year.

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

In related news, Director Alan M. Silberstein sold 700 shares of the business’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $138.96, for a total value of $97,272.00. Following the completion of the sale, the director now directly owns 40,355 shares in the company, valued at approximately $5,607,730.80. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of the business’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $146.36, for a total value of $622,030.00. Following the completion of the sale, the director now owns 48,382 shares of the company’s stock, valued at $7,081,189.52. The disclosure for this sale can be found here. In the last three months, insiders sold 5,650 shares of company stock valued at $829,867. 0.88% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of GPN. PNC Financial Services Group Inc. boosted its stake in shares of Global Payments by 16.1% during the fourth quarter. PNC Financial Services Group Inc. now owns 10,719 shares of the business services provider’s stock valued at $1,106,000 after purchasing an additional 1,488 shares in the last quarter. Raymond James & Associates boosted its stake in shares of Global Payments by 101.8% during the fourth quarter. Raymond James & Associates now owns 83,894 shares of the business services provider’s stock valued at $8,652,000 after purchasing an additional 42,315 shares in the last quarter. Advisor Group Inc. boosted its stake in shares of Global Payments by 37.4% during the fourth quarter. Advisor Group Inc. now owns 9,460 shares of the business services provider’s stock valued at $976,000 after purchasing an additional 2,574 shares in the last quarter. Standard Life Aberdeen plc boosted its stake in shares of Global Payments by 1.3% during the fourth quarter. Standard Life Aberdeen plc now owns 41,494 shares of the business services provider’s stock valued at $4,263,000 after purchasing an additional 529 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake 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 valued at $43,000 after purchasing an additional 107 shares in the last quarter. Hedge funds and other institutional investors own 97.44% of the company’s stock.

About Global Payments

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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