Global Payments (NYSE:GPN) had its price objective hoisted by Deutsche Bank in a report released on Friday. The firm currently has a buy rating on the business services provider’s stock.
A number of other analysts have also recently commented on the stock. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $122.00 price target on shares of Global Payments in a research report on Friday, December 22nd. Zacks Investment Research cut shares of Global Payments from a buy rating to a hold rating in a research report on Tuesday, November 14th. Stephens raised shares of Global Payments from an equal weight rating to an overweight rating and set a $122.00 price target on the stock in a research report on Tuesday, January 9th. Credit Suisse Group reaffirmed an outperform rating and set a $108.00 price target (up previously from $100.00) on shares of Global Payments in a research report on Thursday, November 9th. They noted that the move was a valuation call. Finally, Nomura upped their price target on shares of Global Payments from $83.00 to $85.00 and gave the company a reduce rating in a research report on Thursday, November 9th. Two research 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. The company currently has an average rating of Buy and a consensus target price of $107.69.
Shares of Global Payments (NYSE:GPN) opened at $114.35 on Friday. The firm has a market capitalization of $18,200.00, a price-to-earnings ratio of 57.46, a P/E/G ratio of 1.70 and a beta of 1.14. Global Payments has a 1-year low of $76.47 and a 1-year high of $114.86. The company has a quick ratio of 1.14, a current ratio of 1.13 and a debt-to-equity ratio of 1.15.
Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, February 15th. The business services provider reported $1.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.06 by $0.01. The business had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $943.39 million. Global Payments had a net margin of 11.78% and a return on equity of 17.94%. The business’s quarterly revenue was up 11.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.89 earnings per share. equities analysts anticipate that Global Payments will post 4.53 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be given a dividend of $0.01 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Global Payments’s dividend payout ratio (DPR) is presently 2.01%.
Global Payments declared that its board has initiated a share buyback program on Thursday, February 15th that authorizes the company to buyback $600.00 million in outstanding shares. This buyback authorization authorizes the business services provider to reacquire shares of its stock through open market purchases. Shares buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Alan M. Silberstein sold 600 shares of the stock in a transaction dated Monday, December 18th. The shares were sold at an average price of $101.55, for a total transaction of $60,930.00. Following the transaction, the director now owns 44,893 shares of the company’s stock, valued at approximately $4,558,884.15. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 3,000 shares of company stock worth $310,314 in the last three months. Insiders own 0.93% of the company’s stock.
A number of hedge funds and other institutional investors have recently made changes to their positions in GPN. Capital International Investors lifted its position in Global Payments by 39.1% in the 3rd quarter. Capital International Investors now owns 2,678,334 shares of the business services provider’s stock valued at $254,522,000 after acquiring an additional 752,962 shares in the last quarter. Guggenheim Capital LLC lifted its position in Global Payments by 46.0% in the 4th quarter. Guggenheim Capital LLC now owns 807,566 shares of the business services provider’s stock valued at $80,951,000 after acquiring an additional 254,315 shares in the last quarter. Atlanta Capital Management Co. L L C bought a new position in Global Payments in the 3rd quarter valued at about $23,161,000. Element Capital Management LLC bought a new position in Global Payments in the 4th quarter valued at about $20,043,000. Finally, Capital Bank & Trust Co lifted its position in Global Payments by 102.2% in the 3rd quarter. Capital Bank & Trust Co now owns 393,153 shares of the business services provider’s stock valued at $37,361,000 after acquiring an additional 198,713 shares in the last quarter. 95.74% of the stock is currently owned by institutional investors and hedge funds.
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About Global Payments
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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