Global Payments (NYSE:GPN) had its price objective increased by Citigroup from $122.00 to $125.00 in a research report sent to investors on Friday. Citigroup currently has a buy rating on the business services provider’s stock.
Several other brokerages also recently issued reports on GPN. Morgan Stanley raised their target price on shares of Global Payments from $98.00 to $106.00 and gave the company an equal weight rating in a research note on Thursday, November 2nd. Royal Bank of Canada reiterated an outperform rating and issued a $108.00 target price (up from $103.00) on shares of Global Payments in a research note on Thursday, November 9th. Nomura raised their target price on shares of Global Payments from $83.00 to $85.00 and gave the company a reduce rating in a research note on Thursday, November 9th. Zacks Investment Research downgraded shares of Global Payments from a buy rating to a hold rating in a research note on Tuesday, November 14th. Finally, Oppenheimer raised their target price on shares of Global Payments from $21.00 to $23.00 and gave the company an outperform rating in a research note on Friday, January 19th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Global Payments presently has a consensus rating of Buy and an average price target of $107.69.
Shares of Global Payments (NYSE:GPN) traded up $2.00 during trading hours on Friday, reaching $114.35. 1,686,790 shares of the company traded hands, compared to its average volume of 1,204,938. Global Payments has a twelve month low of $76.47 and a twelve month high of $114.86. The firm has a market cap of $17,879.65, a P/E ratio of 38.37, a P/E/G ratio of 1.67 and a beta of 1.14. The company has a debt-to-equity ratio of 1.15, a current ratio of 1.13 and a quick ratio of 1.14.
Global Payments (NYSE:GPN) last issued its earnings results on Thursday, February 15th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.06 by $0.01. Global Payments had a net margin of 11.78% and a return on equity of 17.94%. The business had revenue of $1.05 billion during the quarter, compared to the consensus estimate of $943.39 million. During the same period last year, the business posted $0.89 EPS. Global Payments’s revenue was up 11.0% on a year-over-year basis. equities research analysts anticipate that Global Payments will post 4.53 earnings per share for the current year.
Global Payments announced that its board has authorized a share repurchase plan on Thursday, February 15th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are usually an indication that the company’s management believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, March 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Global Payments’s payout ratio is 1.34%.
In other news, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction that occurred on Wednesday, December 13th. The shares were sold at an average price of $100.43, for a total value of $60,258.00. Following the completion of the sale, the director now directly owns 38,275 shares in the company, valued at $3,843,958.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Over the last quarter, insiders sold 3,600 shares of company stock valued at $370,602. 0.93% of the stock is owned by company insiders.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. raised its position in shares of Global Payments by 3.7% in the third quarter. Russell Investments Group Ltd. now owns 58,410 shares of the business services provider’s stock valued at $5,551,000 after buying an additional 2,081 shares in the last quarter. Wells Fargo & Company MN raised its position in shares of Global Payments by 9.3% in the third quarter. Wells Fargo & Company MN now owns 1,679,426 shares of the business services provider’s stock valued at $159,596,000 after buying an additional 142,950 shares in the last quarter. Chevy Chase Trust Holdings Inc. raised its position in shares of Global Payments by 3.7% in the fourth quarter. Chevy Chase Trust Holdings Inc. now owns 138,142 shares of the business services provider’s stock valued at $13,847,000 after buying an additional 4,870 shares in the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS raised its position in shares of Global Payments by 9.5% in the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,401 shares of the business services provider’s stock valued at $1,178,000 after buying an additional 1,072 shares in the last quarter. Finally, Capital Bank & Trust Co raised its position in shares of Global Payments by 102.2% in the third quarter. Capital Bank & Trust Co now owns 393,153 shares of the business services provider’s stock valued at $37,361,000 after buying an additional 198,713 shares in the last quarter. Institutional investors own 98.53% of the company’s stock.
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Global Payments Company Profile
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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