Global Payments (NYSE:GPN) Price Target Raised to $103.00

Global Payments (NYSE:GPN) had its price objective boosted by Cantor Fitzgerald from $91.00 to $103.00 in a research note released on Monday,Benzinga reports. Cantor Fitzgerald currently has a neutral rating on the business services provider’s stock.

Several other brokerages also recently commented on GPN. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $106.00 price objective (up from $102.00) on shares of Global Payments in a research note on Monday, August 31st. William Blair reissued a “market perform” rating on shares of Global Payments in a research note on Friday, October 30th. Jefferies Financial Group upgraded Global Payments from a “hold” rating to a “buy” rating in a report on Thursday, August 6th. Truist Financial reduced their price target on Global Payments from $95.00 to $86.00 and set a “hold” rating on the stock in a report on Friday, October 23rd. Finally, Argus set a $110.00 price target on Global Payments and gave the company a “buy” rating in a research report on Thursday, August 6th. Thirteen equities research analysts have rated the stock with a Buy rating, eighteen have assigned a Hold rating and three have assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $98.76.

Global Payments Stock Performance

Shares of GPN stock opened at $99.99 on Monday. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.82 and a current ratio of 0.82. Global Payments has a fifty-two week low of $61.16 and a fifty-two week high of $102.90. The stock has a 50 day moving average price of $87.24 and a two-hundred day moving average price of $77.92. The company has a market capitalization of $26.46 billion, a P/E ratio of 7.71, a PEG ratio of 0.50 and a beta of 0.83.

Global Payments (NYSE:GPN) last issued its earnings results on Thursday, November 5th. The business services provider reported $3.58 earnings per share (EPS) for the quarter, hitting the consensus estimate of $3.58. Global Payments had a negative net margin of 11.21% and a positive return on equity of 14.43%. The firm had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter last year, the business earned $3.26 earnings per share. The business’s revenue was up 36.1% on a year-over-year basis. Analysts expect that Global Payments will post 13.66 earnings per share for the current year.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, December 24th. Investors of record on Thursday, December 10th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.0%. The ex-dividend date of this dividend is Thursday, December 10th. Global Payments’s dividend payout ratio is presently -21.93%.

Institutional Trading of Global Payments

Large investors have recently bought and sold shares of the company. Mather Group LLC. grew its holdings in shares of Global Payments by 25.2% during the 3rd quarter. Mather Group LLC. now owns 622 shares of the business services provider’s stock worth $51,000 after acquiring an additional 125 shares during the period. IFP Advisors Inc lifted its stake in shares of Global Payments by 9.8% in the 2nd quarter. IFP Advisors Inc now owns 1,433 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 128 shares during the period. Cidel Asset Management Inc. lifted its stake in shares of Global Payments by 3.4% in the 3rd quarter. Cidel Asset Management Inc. now owns 4,575 shares of the business services provider’s stock valued at $374,000 after purchasing an additional 149 shares during the period. Financial Network Wealth Advisors LLC boosted its position in shares of Global Payments by 30.9% during the third quarter. Financial Network Wealth Advisors LLC now owns 674 shares of the business services provider’s stock valued at $55,000 after purchasing an additional 159 shares in the last quarter. Finally, Southern Financial Group LLC boosted its position in shares of Global Payments by 5.1% during the first quarter. Southern Financial Group LLC now owns 3,651 shares of the business services provider’s stock valued at $246,000 after purchasing an additional 178 shares in the last quarter. 89.76% of the stock is owned by institutional investors.

More Global Payments News

Here’s some of the latest news about GPN:

• Positive Sentiment: The company is expanding its AI-powered payment-authentication platform with Visa’s IDX API, aiming to improve approval rates and reduce false declines. The initiative could help merchants convert more transactions, though its financial impact has not yet been reported. Article: Global Payments Bets on AI and Visa to Win More Transactions
• Neutral Sentiment: Sanford C. Bernstein raised its GPN target from $86 to $100 but kept a “market perform” rating. With the target around the current share price, the revision is an improvement but signals little perceived upside from here. Sanford C. Bernstein recommendations
• Neutral Sentiment: Take-private speculation has been cited as a possible source of support, but no deal is confirmed; any effect on GPN remains uncertain.

Global Payments Company Profile

Global Payments Inc. is a payment technology and software company that helps businesses accept and manage payments. Its services support in-person, online and mobile transactions, along with point-of-sale systems and software for business operations. The company also provides technology to financial institutions and other organizations that issue payment cards. Its services include card processing, account management and related digital tools. Global Payments serves customers across a range of industries and operates internationally, with services available in many countries.