Oppenheimer Begins Coverage on Global Payments (NYSE:GPN)

by · The Cerbat Gem

Oppenheimer assumed coverage on shares of Global Payments (NYSE:GPN – Free Report) in a research report released on Tuesday morning, StockNewsAPI reports. The brokerage issued a market perform rating on the business services provider’s stock.

Other analysts have also recently issued research reports about the company. BMO Capital Markets reduced their price target on Global Payments from $126.00 to $122.00 and set a market perform rating for the company in a research report on Wednesday, September 25th. B. Riley reduced their price target on Global Payments from $204.00 to $194.00 and set a buy rating for the company in a research report on Wednesday, September 25th. Seaport Res Ptn cut Global Payments from a strong-buy rating to a hold rating in a research report on Tuesday, September 24th. Keefe, Bruyette & Woods cut their price objective on Global Payments from $150.00 to $140.00 and set an outperform rating for the company in a research report on Monday, July 8th. Finally, Susquehanna reissued a positive rating and set a $147.00 price objective on shares of Global Payments in a research report on Tuesday, September 17th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of Moderate Buy and an average price target of $140.23.

Check Out Our Latest Analysis on Global Payments

Global Payments Price Performance

GPN opened at $98.19 on Tuesday. The stock has a market cap of $25.06 billion, a price-to-earnings ratio of 19.48, a PEG ratio of 0.71 and a beta of 0.98. Global Payments has a 1 year low of $91.60 and a 1 year high of $141.77. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The stock has a fifty day moving average price of $105.60 and a 200 day moving average price of $108.42.

Global Payments (NYSE:GPN – Get Free Report) last announced its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The company had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the firm earned $2.48 earnings per share. The business’s quarterly revenue was up 4.7% compared to the same quarter last year. Analysts forecast that Global Payments will post 11.07 EPS for the current fiscal year.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a $0.25 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. Global Payments’s payout ratio is presently 19.84%.

Insider Transactions at Global Payments

In other news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the completion of the transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global Payments

Hedge funds have recently modified their holdings of the stock. New Covenant Trust Company N.A. acquired a new stake in Global Payments during the 1st quarter valued at $31,000. LRI Investments LLC acquired a new stake in Global Payments during the 1st quarter valued at $32,000. POM Investment Strategies LLC acquired a new stake in Global Payments during the 2nd quarter valued at $32,000. West Paces Advisors Inc. increased its holdings in Global Payments by 54.5% during the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after purchasing an additional 109 shares in the last quarter. Finally, North Star Investment Management Corp. increased its holdings in Global Payments by 154.7% during the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock valued at $47,000 after purchasing an additional 215 shares in the last quarter. 89.76% of the stock is owned by institutional investors and hedge funds.

About Global Payments

(Get Free Report)

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.

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