BMO Capital Markets Boosts Global Payments Inc. (GPN) Price Target to $115.00
Global Payments Inc. (NYSE:GPN) had its price objective boosted by BMO Capital Markets from $103.00 to $115.00 in a report released on Thursday morning. They currently have a positive rating on the business services provider’s stock.
Other equities research analysts have also issued reports about the stock. Stifel Nicolaus reiterated a buy rating and issued a $103.00 price objective (up from $102.00) on shares of Global Payments in a research report on Friday, August 4th. Keefe, Bruyette & Woods reissued a buy rating and issued a $100.00 target price on shares of Global Payments in a research note on Thursday, August 3rd. Royal Bank Of Canada reissued a buy rating and issued a $103.00 target price on shares of Global Payments in a research note on Wednesday, September 6th. Robert W. Baird reissued a buy rating and issued a $106.00 target price on shares of Global Payments in a research note on Tuesday, September 5th. Finally, Cowen and Company reissued a buy rating and issued a $102.00 target price on shares of Global Payments in a research note on Friday, September 8th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-four have issued a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $104.56.
Global Payments (NYSE:GPN) traded down $0.47 during trading on Thursday, hitting $98.85. 1,142,800 shares of the company traded hands, compared to its average volume of 1,117,132. Global Payments has a 1-year low of $64.63 and a 1-year high of $104.83. The company has a quick ratio of 1.20, a current ratio of 1.14 and a debt-to-equity ratio of 1.27. The stock has a market cap of $15,731.19, a price-to-earnings ratio of 26.57, a PEG ratio of 1.81 and a beta of 1.14.
Global Payments (NYSE:GPN) last released its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 EPS for the quarter, topping the consensus estimate of $1.03 by $0.12. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $917.31 million. During the same period in the previous year, the firm earned $0.89 EPS. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. research analysts forecast that Global Payments will post 3.75 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, December 14th. Global Payments’s dividend payout ratio is presently 2.23%.
In related news, Director Robert H. B. Baldwin, Jr. sold 5,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $94.58, for a total transaction of $529,648.00. Following the sale, the director now directly owns 178,177 shares of the company’s stock, valued at approximately $16,851,980.66. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $99.82, for a total value of $2,595,320.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 77,755 shares of company stock valued at $7,535,230. Company insiders own 0.93% of the company’s stock.
Several hedge funds have recently bought and sold shares of GPN. Teachers Advisors LLC raised its position in shares of Global Payments by 5.8% during the 1st quarter. Teachers Advisors LLC now owns 177,074 shares of the business services provider’s stock valued at $14,286,000 after acquiring an additional 9,773 shares in the last quarter. Thrivent Financial For Lutherans raised its position in shares of Global Payments by 5.9% during the 1st quarter. Thrivent Financial For Lutherans now owns 5,590 shares of the business services provider’s stock valued at $451,000 after acquiring an additional 310 shares in the last quarter. HighTower Advisors LLC raised its position in shares of Global Payments by 7.8% during the 1st quarter. HighTower Advisors LLC now owns 5,371 shares of the business services provider’s stock valued at $434,000 after acquiring an additional 390 shares in the last quarter. Xact Kapitalforvaltning AB raised its position in shares of Global Payments by 0.3% during the 2nd quarter. Xact Kapitalforvaltning AB now owns 11,990 shares of the business services provider’s stock valued at $1,083,000 after acquiring an additional 41 shares in the last quarter. Finally, Fox Run Management L.L.C. acquired a new stake in Global Payments in the second quarter worth $361,000. 98.10% of the stock is currently owned by institutional investors and hedge funds.
Global Payments Company Profile
Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.
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