Monetta Financial Services Inc. acquired a new position in Global Payments Inc. (NYSE:GPN – Get Rating) during the first quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 4,500 shares of the business services provider’s stock, valued at approximately $616,000.
Other large investors have also modified their holdings of the company. MUFG Americas Holdings Corp acquired a new stake in shares of Global Payments in the 1st quarter worth about $25,000. Bell Investment Advisors Inc boosted its position in shares of Global Payments by 128.6% during the 4th quarter. Bell Investment Advisors Inc now owns 192 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 108 shares in the last quarter. MCF Advisors LLC bought a new position in shares of Global Payments during the 1st quarter valued at about $27,000. Hazlett Burt & Watson Inc. bought a new position in shares of Global Payments during the 1st quarter valued at about $27,000. Finally, Western Pacific Wealth Management LP bought a new position in shares of Global Payments during the 4th quarter valued at about $29,000. Institutional investors and hedge funds own 84.53% of the company’s stock.
Wall Street Analysts Forecast Growth
Several research analysts have commented on the stock. Robert W. Baird raised their target price on shares of Global Payments from $144.00 to $156.00 and gave the stock an “outperform” rating in a report on Tuesday. Wolfe Research decreased their target price on shares of Global Payments from $200.00 to $160.00 in a report on Wednesday, July 20th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Global Payments from $222.00 to $188.00 and set a “buy” rating for the company in a report on Tuesday. Credit Suisse Group cut shares of Global Payments from an “outperform” rating to a “neutral” rating and decreased their target price for the stock from $180.00 to $145.00 in a report on Wednesday. Finally, Keefe, Bruyette & Woods reduced their price target on shares of Global Payments from $175.00 to $155.00 in a research report on Monday, July 11th. Six equities research analysts have rated the stock with a hold rating and twenty-three have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $175.03.
Insider Buying and Selling at Global Payments
Global Payments Stock Performance
Shares of Global Payments stock traded down $0.60 during midday trading on Friday, hitting $128.00. The company had a trading volume of 1,166,058 shares, compared to its average volume of 1,823,925. The business’s 50 day simple moving average is $118.40 and its two-hundred day simple moving average is $129.16. The stock has a market cap of $35.48 billion, a PE ratio of 711.15, a P/E/G ratio of 0.88 and a beta of 1.04. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.87 and a quick ratio of 1.06. Global Payments Inc. has a 1-year low of $105.52 and a 1-year high of $179.27.
Global Payments (NYSE:GPN – Get Rating) last posted its quarterly earnings results on Monday, August 1st. The business services provider reported $2.36 earnings per share for the quarter, topping analysts’ consensus estimates of $2.34 by $0.02. Global Payments had a net margin of 0.87% and a return on equity of 9.24%. The firm had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the previous year, the company earned $1.92 earnings per share. The business’s revenue was up 6.7% compared to the same quarter last year. As a group, equities analysts predict that Global Payments Inc. will post 9 EPS for the current fiscal year.
Global Payments Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a dividend of $0.25 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.78%. Global Payments’s payout ratio is presently 555.59%.
Global Payments declared that its board has initiated a stock buyback program on Monday, August 1st that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 4.2% of its stock through open market purchases. Stock buyback programs are generally a sign that the company’s management believes its shares are undervalued.
About Global Payments
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment 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, and on-line reporting services.
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