Oppenheimer Increases Global Payments (NYSE:GPN) Price Target to $202.00

Global Payments (NYSE:GPN) had its price objective boosted by Oppenheimer from $190.00 to $202.00 in a research note published on Monday, The Fly reports. They currently have an outperform rating on the business services provider’s stock. Oppenheimer also issued estimates for Global Payments’ Q2 2020 earnings at $1.13 EPS, Q3 2020 earnings at $1.53 EPS, Q4 2020 earnings at $1.77 EPS, FY2020 earnings at $5.93 EPS, Q1 2021 earnings at $1.77 EPS, Q2 2021 earnings at $1.73 EPS, Q3 2021 earnings at $2.05 EPS, Q4 2021 earnings at $2.18 EPS and FY2021 earnings at $7.71 EPS.

GPN has been the topic of several other reports. UBS Group boosted their price target on shares of Global Payments from $216.00 to $221.00 and gave the stock a buy rating in a research report on Tuesday, May 12th. Stephens cut their price target on shares of Global Payments from $208.00 to $164.00 and set an overweight rating on the stock in a research report on Thursday, April 9th. Keefe, Bruyette & Woods boosted their price target on shares of Global Payments from $161.00 to $200.00 and gave the stock an outperform rating in a research report on Thursday, May 7th. Royal Bank of Canada upped their target price on shares of Global Payments from $171.00 to $191.00 and gave the company an outperform rating in a report on Thursday, May 7th. Finally, Wedbush raised shares of Global Payments from a neutral rating to an outperform rating in a report on Monday, March 16th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-seven have assigned a buy rating to the company. Global Payments currently has a consensus rating of Buy and a consensus price target of $194.83.

Shares of NYSE:GPN opened at $171.46 on Monday. The company’s 50-day moving average price is $176.97 and its two-hundred day moving average price is $175.56. The company has a debt-to-equity ratio of 0.35, a current ratio of 1.34 and a quick ratio of 1.34. Global Payments has a one year low of $105.54 and a one year high of $209.62. The stock has a market capitalization of $50.73 billion, a PE ratio of 80.50, a price-to-earnings-growth ratio of 1.96 and a beta of 1.14.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, May 6th. The business services provider reported $1.58 EPS for the quarter, topping the consensus estimate of $1.53 by $0.05. Global Payments had a net margin of 7.79% and a return on equity of 6.46%. The firm had revenue of $1.90 billion for the quarter, compared to analysts’ expectations of $1.74 billion. During the same period in the previous year, the firm posted $1.34 EPS. The company’s revenue for the quarter was up 115.6% on a year-over-year basis. On average, analysts anticipate that Global Payments will post 5.67 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, June 26th. Shareholders of record on Friday, June 12th were given a dividend of $0.195 per share. The ex-dividend date was Thursday, June 11th. This represents a $0.78 dividend on an annualized basis and a dividend yield of 0.45%. Global Payments’s payout ratio is presently 13.31%.

In other Global Payments news, Director William I. Jacobs sold 600 shares of the stock in a transaction that occurred on Tuesday, April 14th. The shares were sold at an average price of $147.82, for a total transaction of $88,692.00. Following the transaction, the director now owns 24,788 shares in the company, valued at approximately $3,664,162.16. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Ruth Ann Marshall sold 1,600 shares of the company’s stock in a transaction that occurred on Friday, May 8th. The stock was sold at an average price of $176.05, for a total transaction of $281,680.00. Following the sale, the director now directly owns 41,641 shares of the company’s stock, valued at approximately $7,330,898.05. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 11,397 shares of company stock worth $1,976,649. Company insiders own 0.88% of the company’s stock.

Large investors have recently bought and sold shares of the business. Virtus ETF Advisers LLC acquired a new position in shares of Global Payments during the fourth quarter valued at about $29,000. Global Retirement Partners LLC grew its holdings in shares of Global Payments by 2,928.6% during the first quarter. Global Retirement Partners LLC now owns 212 shares of the business services provider’s stock valued at $31,000 after buying an additional 205 shares during the last quarter. Maverick Capital Ltd. acquired a new position in shares of Global Payments during the first quarter valued at about $38,000. Benjamin F. Edwards & Company Inc. lifted its position in shares of Global Payments by 1,976.9% during the first quarter. Benjamin F. Edwards & Company Inc. now owns 270 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 257 shares in the last quarter. Finally, San Francisco Sentry Investment Group CA lifted its position in shares of Global Payments by 162.0% during the first quarter. San Francisco Sentry Investment Group CA now owns 317 shares of the business services provider’s stock valued at $45,000 after purchasing an additional 196 shares in the last quarter. Institutional investors and hedge funds own 87.95% 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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