Global Payments (NYSE:GPN) had its target price increased by KeyCorp from $130.00 to $135.00 in a research note issued to investors on Wednesday morning, The Fly reports. They currently have an overweight rating on the business services provider’s stock.
Other analysts have also issued reports about the stock. Morgan Stanley upped their price objective on shares of Global Payments from $119.00 to $124.00 and gave the stock a $117.08 rating in a research note on Thursday, July 19th. Citigroup upped their price objective on shares of Global Payments from $125.00 to $136.00 and gave the stock a buy rating in a research note on Friday, July 13th. Buckingham Research upped their price objective on shares of Global Payments from $120.00 to $135.00 and gave the stock a buy rating in a research note on Friday, August 3rd. Cantor Fitzgerald reaffirmed a buy rating and issued a $136.00 price objective on shares of Global Payments in a research note on Friday, August 3rd. Finally, ValuEngine raised shares of Global Payments from a hold rating to a buy rating in a research note on Friday, August 3rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-one have given a buy rating to the stock. The stock has an average rating of Buy and an average price target of $120.83.
NYSE:GPN traded down $0.20 during mid-day trading on Wednesday, reaching $114.57. The company’s stock had a trading volume of 999,601 shares, compared to its average volume of 1,498,638. Global Payments has a 1 year low of $95.32 and a 1 year high of $129.25. The firm has a market cap of $18.13 billion, a PE ratio of 24.43, a price-to-earnings-growth ratio of 1.36 and a beta of 1.18. The company has a debt-to-equity ratio of 1.13, a current ratio of 1.03 and a quick ratio of 1.09.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Tuesday, October 30th. The business services provider reported $1.44 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.05. Global Payments had a net margin of 17.48% and a return on equity of 18.38%. The company had revenue of $857.70 million during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the firm earned $1.15 earnings per share. The firm’s revenue for the quarter was down 17.4% compared to the same quarter last year. Sell-side analysts anticipate that Global Payments will post 4.87 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 28th. Shareholders of record on Friday, December 14th will be issued a $0.01 dividend. The ex-dividend date of this dividend is Thursday, December 13th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. Global Payments’s dividend payout ratio is presently 1.00%.
In other news, Director Robert H. B. Baldwin, Jr. sold 4,125 shares of the company’s stock in a transaction dated Friday, September 14th. The shares were sold at an average price of $128.76, for a total transaction of $531,135.00. Following the transaction, the director now owns 83,024 shares in the company, valued at $10,690,170.24. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 3,125 shares of the company’s stock in a transaction dated Tuesday, October 16th. The shares were sold at an average price of $116.07, for a total transaction of $362,718.75. Following the transaction, the director now owns 80,324 shares in the company, valued at approximately $9,323,206.68. The disclosure for this sale can be found here. Insiders sold 92,955 shares of company stock valued at $11,773,553 over the last quarter. 0.98% of the stock is currently owned by corporate insiders.
Institutional investors and hedge funds have recently bought and sold shares of the company. Davy Asset Management Ltd acquired a new position in shares of Global Payments during the second quarter valued at about $648,000. Stephens Investment Management Group LLC increased its holdings in shares of Global Payments by 7.7% during the second quarter. Stephens Investment Management Group LLC now owns 47,612 shares of the business services provider’s stock valued at $5,240,000 after acquiring an additional 3,408 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of Global Payments by 8.5% during the second quarter. Bank of America Corp DE now owns 1,192,076 shares of the business services provider’s stock valued at $132,905,000 after acquiring an additional 93,698 shares in the last quarter. Royal London Asset Management Ltd. acquired a new position in shares of Global Payments during the second quarter valued at about $7,210,000. Finally, Carillon Tower Advisers Inc. acquired a new position in shares of Global Payments during the second quarter valued at about $2,452,000. Hedge funds and other institutional investors own 96.64% of the company’s stock.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.
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