Trade Report: Today: Robert W. Baird Reiterates “Outperform” Rating for Global Payments Inc. (GPN)

Today: Robert W. Baird Reiterates “Outperform” Rating for Global Payments Inc. (GPN)

Global Payments Inc. (NYSE:GPN)‘s stock had its “outperform” rating reaffirmed by research analysts at Robert W. Baird in a report released on Thursday. They presently have a $88.00 target price on the stock. Robert W. Baird’s price target points to a potential upside of 20.48% from the company’s current price.

GPN has been the subject of a number of other reports. Zacks Investment Research raised Global Payments from a “hold” rating to a “buy” rating and set a $86.00 price target for the company in a research note on Monday, October 3rd. William Blair reaffirmed an “outperform” rating on shares of Global Payments in a research note on Tuesday, September 27th. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and set a $85.00 price target on shares of Global Payments in a research note on Wednesday, September 28th. Goldman Sachs Group Inc. raised Global Payments from a “neutral” rating to a “buy” rating and increased their price target for the company from $80.00 to $88.00 in a research note on Thursday, September 15th. Finally, Stifel Nicolaus increased their price target on Global Payments from $75.00 to $76.00 and gave the company a “hold” rating in a research note on Friday, October 7th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and eighteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $78.03.

Shares of Global Payments (NYSE:GPN) opened at 73.04 on Thursday. Global Payments has a 52 week low of $51.29 and a 52 week high of $79.93. The firm’s 50-day moving average price is $75.64 and its 200 day moving average price is $74.42. The firm has a market capitalization of $11.23 billion, a price-to-earnings ratio of 37.59 and a beta of 1.09.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, October 5th. The company reported $0.86 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.03. The firm earned $939.50 million during the quarter. Global Payments had a return on equity of 22.33% and a net margin of 8.74%. The business’s revenue for the quarter was up 52.2% compared to the same quarter last year. During the same period in the previous year, the business posted $0.79 earnings per share. On average, analysts anticipate that Global Payments will post $3.48 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, November 25th. Stockholders of record on Friday, November 11th will be paid a $0.01 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.05%. Global Payments’s payout ratio is presently 2.06%.

In other news, insider David E. Mangum sold 88,938 shares of Global Payments stock in a transaction dated Tuesday, August 9th. The stock was sold at an average price of $75.07, for a total value of $6,676,575.66. Following the transaction, the insider now directly owns 172,060 shares in the company, valued at $12,916,544.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction dated Thursday, October 13th. The stock was sold at an average price of $73.22, for a total value of $43,932.00. Following the completion of the transaction, the director now owns 44,411 shares in the company, valued at $3,251,773.42. The disclosure for this sale can be found here. 1.10% of the stock is owned by insiders.

Institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP raised its position in Global Payments by 227.4% in the first quarter. Wellington Management Group LLP now owns 11,997,800 shares of the company’s stock worth $783,456,000 after buying an additional 8,333,396 shares during the last quarter. Vanguard Group Inc. raised its position in Global Payments by 44.3% in the second quarter. Vanguard Group Inc. now owns 13,969,774 shares of the company’s stock worth $997,163,000 after buying an additional 4,289,181 shares during the last quarter. State Street Corp raised its position in Global Payments by 35.8% in the second quarter. State Street Corp now owns 5,512,377 shares of the company’s stock worth $393,482,000 after buying an additional 1,454,637 shares during the last quarter. BlackRock Advisors LLC raised its position in Global Payments by 219.6% in the second quarter. BlackRock Advisors LLC now owns 2,030,268 shares of the company’s stock worth $144,920,000 after buying an additional 1,394,995 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA raised its position in Global Payments by 30.7% in the second quarter. Massachusetts Financial Services Co. MA now owns 5,367,430 shares of the company’s stock worth $383,127,000 after buying an additional 1,259,406 shares during the last quarter. Institutional investors and hedge funds own 96.56% of the company’s stock.

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