Global Payments (GPN) Sets New 12-Month High at $132.29

Shares of Global Payments Inc (NYSE:GPN) reached a new 52-week high on Tuesday . The company traded as high as $132.29 and last traded at $132.09, with a volume of 17029 shares traded. The stock had previously closed at $131.89.

A number of analysts have recently weighed in on GPN shares. Mizuho upped their price objective on Global Payments to $136.00 and gave the stock a “buy” rating in a research report on Thursday, February 14th. Nomura upped their price objective on Global Payments from $91.00 to $94.00 and gave the stock a “reduce” rating in a research report on Monday, February 11th. Barclays started coverage on Global Payments in a research report on Wednesday, November 14th. They set an “overweight” rating and a $136.00 price objective on the stock. Jefferies Financial Group started coverage on Global Payments in a research report on Thursday, February 28th. They set a “buy” rating and a $150.00 price objective on the stock. Finally, reaffirmed an “outperform” rating and set a $143.00 price objective (up previously from $130.00) on shares of Global Payments in a research report on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $134.74.

The firm has a market cap of $20.79 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.30 and a beta of 1.20. The company has a debt-to-equity ratio of 1.20, a current ratio of 1.03 and a quick ratio of 1.03.

Global Payments (NYSE:GPN) last posted its earnings results on Wednesday, February 13th. The business services provider reported $1.33 EPS for the quarter, beating the consensus estimate of $1.25 by $0.08. The firm had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. Global Payments had a return on equity of 19.11% and a net margin of 13.43%. Global Payments’s revenue for the quarter was up 12.3% compared to the same quarter last year. During the same quarter in the prior year, the company posted $1.07 earnings per share. As a group, analysts anticipate that Global Payments Inc will post 5.72 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, March 29th. Investors of record on Friday, March 15th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, March 14th. Global Payments’s dividend payout ratio (DPR) is presently 0.77%.

In other Global Payments news, insider Cameron M. Bready sold 34,308 shares of the firm’s stock in a transaction dated Monday, March 11th. The stock was sold at an average price of $131.33, for a total transaction of $4,505,669.64. Following the transaction, the insider now owns 138,520 shares of the company’s stock, valued at $18,191,831.60. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of the firm’s stock in a transaction dated Friday, December 14th. The stock was sold at an average price of $102.02, for a total value of $306,060.00. Following the transaction, the director now directly owns 74,899 shares in the company, valued at approximately $7,641,195.98. The disclosure for this sale can be found here. Insiders sold 211,353 shares of company stock worth $27,281,561 in the last three months. 0.98% of the stock is currently owned by corporate insiders.

Several hedge funds have recently modified their holdings of GPN. Nissay Asset Management Corp Japan ADV boosted its stake in shares of Global Payments by 0.8% during the fourth quarter. Nissay Asset Management Corp Japan ADV now owns 12,472 shares of the business services provider’s stock worth $1,286,000 after buying an additional 99 shares during the period. 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 worth $43,000 after buying an additional 107 shares during the period. IFP Advisors Inc boosted its stake in shares of Global Payments by 15.6% during the fourth quarter. IFP Advisors Inc now owns 897 shares of the business services provider’s stock worth $92,000 after buying an additional 121 shares during the period. Securian Asset Management Inc boosted its stake in shares of Global Payments by 0.8% during the fourth quarter. Securian Asset Management Inc now owns 16,426 shares of the business services provider’s stock worth $1,694,000 after buying an additional 123 shares during the period. Finally, JOYN Advisors Inc. boosted its stake in shares of Global Payments by 58.7% during the fourth quarter. JOYN Advisors Inc. now owns 346 shares of the business services provider’s stock worth $36,000 after buying an additional 128 shares during the period. 97.84% of the stock is currently owned by institutional investors.

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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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