Global Payments (NYSE:GPN) had its target price boosted by Morgan Stanley from $128.00 to $137.00 in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. The brokerage currently has an equal weight rating on the business services provider’s stock.
A number of other research analysts also recently weighed in on GPN. Goldman Sachs Group raised shares of Global Payments from a neutral rating to a buy rating and increased their target price for the company from $122.00 to $128.00 in a research report on Tuesday, January 8th. Zacks Investment Research downgraded shares of Global Payments from a hold rating to a sell rating in a research report on Wednesday, January 9th. Nomura raised their price objective on shares of Global Payments from $91.00 to $94.00 and gave the stock a reduce rating in a report on Monday, February 11th. ValuEngine raised shares of Global Payments from a hold rating to a buy rating in a report on Wednesday, February 13th. Finally, reaffirmed an outperform rating and issued a $143.00 price objective (up from $130.00) on shares of Global Payments in a report on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and nineteen have issued a buy rating to the company’s stock. Global Payments presently has a consensus rating of Buy and an average target price of $143.10.
Global Payments stock opened at $146.89 on Tuesday. Global Payments has a twelve month low of $94.81 and a twelve month high of $147.77. The company has a market cap of $22.96 billion, a PE ratio of 28.30, a P/E/G ratio of 1.48 and a beta of 1.20. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.25.
Global Payments (NYSE:GPN) last released its earnings results on Thursday, May 2nd. The business services provider reported $1.34 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.22 by $0.12. Global Payments had a net margin of 13.69% and a return on equity of 19.83%. The firm had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $1.04 billion. During the same period in the prior year, the firm earned $1.13 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. On average, equities analysts expect that Global Payments will post 5.79 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date is Thursday, June 13th. Global Payments’s dividend payout ratio is presently 0.77%.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 3,500 shares of the stock in a transaction that occurred on Thursday, February 14th. The shares were sold at an average price of $121.49, for a total value of $425,215.00. Following the sale, the director now directly owns 68,817 shares in the company, valued at approximately $8,360,577.33. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan M. Silberstein sold 700 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $138.96, for a total transaction of $97,272.00. Following the completion of the sale, the director now owns 40,355 shares in the company, valued at $5,607,730.80. The disclosure for this sale can be found here. Insiders sold a total of 210,329 shares of company stock worth $27,306,584 over the last quarter. Corporate insiders own 0.88% of the company’s stock.
Institutional investors have recently bought and sold shares of the company. Lunia Capital LP purchased a new position in Global Payments in the 4th quarter worth $18,742,000. Norges Bank purchased a new position in Global Payments in the 4th quarter worth $131,343,000. Boston Partners purchased a new position in Global Payments in the 4th quarter worth $122,196,000. Coho Partners Ltd. purchased a new position in Global Payments in the 1st quarter worth $118,168,000. Finally, JPMorgan Chase & Co. raised its position in Global Payments by 14.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,520,530 shares of the business services provider’s stock worth $575,914,000 after purchasing an additional 581,025 shares during the period. Hedge funds and other institutional investors own 99.63% of the company’s stock.
About Global Payments
Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.
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