Global Payments (NYSE:GPN) Sets New 1-Year High at $176.82

Global Payments Inc (NYSE:GPN) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $176.82 and last traded at $176.31, with a volume of 1254056 shares changing hands. The stock had previously closed at $173.58.

GPN has been the subject of a number of analyst reports. Nomura lifted their price objective on shares of Global Payments from $105.00 to $120.00 and gave the company a “reduce” rating in a report on Tuesday, August 6th. Wolfe Research set a $195.00 price objective on shares of Global Payments and gave the company a “buy” rating in a report on Friday, November 1st. Piper Jaffray Companies set a $195.00 price objective on shares of Global Payments and gave the company an “overweight” rating in a report on Wednesday, July 31st. Goldman Sachs Group reiterated a “buy” rating and set a $212.00 price objective on shares of Global Payments in a report on Tuesday, September 24th. Finally, Deutsche Bank lifted their price objective on shares of Global Payments from $162.00 to $182.00 and gave the company a “buy” rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $177.97.

The firm has a market capitalization of $51.69 billion, a PE ratio of 34.15, a PEG ratio of 1.74 and a beta of 0.98. The firm’s fifty day moving average is $163.01 and its two-hundred day moving average is $159.88. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 1.17.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, October 31st. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.03. Global Payments had a net margin of 10.59% and a return on equity of 9.05%. The business had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The firm’s revenue for the quarter was up 27.4% compared to the same quarter last year. As a group, equities research analysts predict that Global Payments Inc will post 5.83 EPS for the current fiscal year.

In related news, Director Joia M. Johnson acquired 575 shares of the stock in a transaction on Tuesday, November 5th. The shares were acquired at an average price of $169.35 per share, with a total value of $97,376.25. Following the completion of the transaction, the director now owns 1,787 shares in the company, valued at approximately $302,628.45. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Guido Francesco Sacchi sold 10,450 shares of Global Payments stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $159.44, for a total transaction of $1,666,148.00. Following the completion of the sale, the executive vice president now directly owns 47,916 shares in the company, valued at approximately $7,639,727.04. The disclosure for this sale can be found here. In the last ninety days, insiders sold 36,587 shares of company stock worth $6,094,128. Insiders own 0.88% of the company’s stock.

Hedge funds have recently made changes to their positions in the business. Lindbrook Capital LLC raised its holdings in Global Payments by 19.0% during the 3rd quarter. Lindbrook Capital LLC now owns 400 shares of the business services provider’s stock valued at $64,000 after buying an additional 64 shares during the last quarter. HighTower Advisors LLC boosted its holdings in Global Payments by 0.8% during the 2nd quarter. HighTower Advisors LLC now owns 9,445 shares of the business services provider’s stock valued at $1,508,000 after acquiring an additional 74 shares during the period. First Allied Advisory Services Inc. boosted its holdings in Global Payments by 5.7% during the 3rd quarter. First Allied Advisory Services Inc. now owns 1,422 shares of the business services provider’s stock valued at $221,000 after acquiring an additional 77 shares during the period. Corient Capital Partners LLC boosted its holdings in Global Payments by 5.0% during the 2nd quarter. Corient Capital Partners LLC now owns 1,628 shares of the business services provider’s stock valued at $261,000 after acquiring an additional 78 shares during the period. Finally, Advantage Investment Management LLC boosted its holdings in Global Payments by 32.4% during the 3rd quarter. Advantage Investment Management LLC now owns 331 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 81 shares during the period. 97.09% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Company Profile (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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