Susquehanna Bancshares upgraded shares of Global Payments (NYSE:GPN) from a neutral rating to a positive rating in a research note released on Tuesday, BenzingaRatingsTable reports. Susquehanna Bancshares currently has $170.00 price target on the business services provider’s stock, up from their previous price target of $130.00.
A number of other equities 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 price target for the stock from $122.00 to $128.00 in a research note on Tuesday, January 8th. Zacks Investment Research downgraded shares of Global Payments from a hold rating to a sell rating in a research note on Wednesday, January 9th. Nomura increased their price target on shares of Global Payments from $91.00 to $94.00 and gave the stock a reduce rating in a research note on Monday, February 11th. ValuEngine raised shares of Global Payments from a hold rating to a buy rating in a research note on Wednesday, February 13th. Finally, reaffirmed an outperform rating and set a $143.00 price target (up previously from $130.00) on shares of Global Payments in a research note on Thursday, February 14th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and nineteen have given a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $143.10.
NYSE:GPN opened at $146.89 on Tuesday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.25. The company has a market cap of $22.96 billion, a price-to-earnings ratio of 28.30, a P/E/G ratio of 1.48 and a beta of 1.20. Global Payments has a fifty-two week low of $94.81 and a fifty-two week high of $147.77.
Global Payments (NYSE:GPN) last posted its quarterly earnings results on Thursday, May 2nd. The business services provider reported $1.34 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.22 by $0.12. The company had revenue of $1.04 billion for the quarter, compared to the consensus estimate of $1.04 billion. Global Payments had a net margin of 13.69% and a return on equity of 19.83%. Global Payments’s revenue was up 12.8% on a year-over-year basis. During the same quarter last year, the firm posted $1.13 earnings per share. On average, equities analysts predict that Global Payments will post 5.79 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date of this dividend is Thursday, June 13th. Global Payments’s dividend payout ratio is presently 0.77%.
In related news, CEO Jeffrey Steven Sloan sold 167,545 shares of Global Payments stock in a transaction on Friday, March 8th. The shares were sold at an average price of $129.59, for a total transaction of $21,712,156.55. Following the sale, the chief executive officer now owns 579,207 shares of the company’s stock, valued at approximately $75,059,435.13. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert H. B. Baldwin, Jr. sold 3,500 shares of Global Payments stock in a transaction on Thursday, February 14th. The stock was sold at an average price of $121.49, for a total transaction 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 disclosure for this sale can be found here. Insiders have sold a total of 210,329 shares of company stock worth $27,306,584 in the last ninety days. 0.88% of the stock is currently owned by insiders.
A number of institutional investors have recently added to or reduced their stakes in GPN. Lunia Capital LP purchased a new stake in Global Payments during the 4th quarter worth $18,742,000. Norges Bank acquired a new position in Global Payments during the 4th quarter worth $131,343,000. Boston Partners acquired a new position in Global Payments during the 4th quarter worth $122,196,000. Coho Partners Ltd. acquired a new position in Global Payments during the 1st quarter worth $118,168,000. Finally, JPMorgan Chase & Co. grew its holdings in Global Payments by 14.7% during the 3rd quarter. JPMorgan Chase & Co. now owns 4,520,530 shares of the business services provider’s stock worth $575,914,000 after acquiring an additional 581,025 shares in the last quarter. 99.63% of the stock is currently owned by hedge funds and other institutional investors.
Global Payments Company Profile
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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