Global Payments Inc (NYSE:GPN) Given Consensus Recommendation of “Buy” by Analysts
Global Payments Inc (NYSE:GPN) has been assigned an average recommendation of “Buy” from the thirty ratings firms that are currently covering the stock, Marketbeat.com reports. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-three have issued a buy rating on the company. The average 1-year price target among analysts that have issued ratings on the stock in the last year is $183.55.
GPN has been the subject of several research reports. Barclays increased their price objective on shares of Global Payments from $215.00 to $225.00 and gave the company an “overweight” rating in a report on Tuesday. Cowen reaffirmed an “outperform” rating and issued a $206.00 price target (up previously from $195.00) on shares of Global Payments in a report on Friday, December 13th. BMO Capital Markets increased their price target on shares of Global Payments from $162.00 to $186.00 and gave the company a “market perform” rating in a report on Monday, November 4th. They noted that the move was a valuation call. Zacks Investment Research downgraded shares of Global Payments from a “buy” rating to a “hold” rating and set a $195.00 price target for the company. in a report on Thursday, January 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Global Payments in a report on Thursday, October 17th.
Shares of GPN traded down $1.99 during midday trading on Tuesday, hitting $191.31. 1,384,402 shares of the company traded hands, compared to its average volume of 1,390,530. The firm has a 50 day moving average of $182.26 and a 200-day moving average of $168.96. Global Payments has a 52 week low of $109.52 and a 52 week high of $194.27. The stock has a market cap of $57.24 billion, a price-to-earnings ratio of 36.86, a PEG ratio of 1.45 and a beta of 0.95. The company has a debt-to-equity ratio of 0.32, a quick ratio of 1.17 and a current ratio of 1.17.
The company also recently disclosed a dividend, which was paid on Friday, December 27th. Investors of record on Friday, December 13th were given a $0.195 dividend. This is a positive change from Global Payments’s previous dividend of $0.01. The ex-dividend date of this dividend was Thursday, December 12th. Global Payments’s dividend payout ratio is 15.03%.
In related news, Director William I. Jacobs sold 600 shares of the stock in a transaction dated Thursday, November 14th. The shares were sold at an average price of $173.37, for a total value of $104,022.00. Following the sale, the director now directly owns 27,788 shares of the company’s stock, valued at approximately $4,817,605.56. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kriss Cloninger III sold 7,877 shares of the stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $169.15, for a total transaction of $1,332,394.55. Following the completion of the sale, the director now directly owns 26,155 shares in the company, valued at $4,424,118.25. The disclosure for this sale can be found here. Insiders sold a total of 9,077 shares of company stock worth $1,544,237 over the last three months. 0.88% of the stock is currently owned by corporate insiders.
A number of institutional investors have recently bought and sold shares of the stock. First Financial Corp IN purchased a new position in shares of Global Payments during the third quarter worth approximately $27,000. Tarbox Family Office Inc. increased its holdings in Global Payments by 130.7% during the third quarter. Tarbox Family Office Inc. now owns 173 shares of the business services provider’s stock valued at $28,000 after buying an additional 98 shares during the period. Evoke Wealth LLC purchased a new position in Global Payments during the third quarter valued at approximately $30,000. Resources Management Corp CT ADV purchased a new position in Global Payments during the third quarter valued at approximately $32,000. Finally, Coastal Investment Advisors Inc. increased its holdings in Global Payments by 500.0% during the third quarter. Coastal Investment Advisors Inc. now owns 210 shares of the business services provider’s stock valued at $34,000 after buying an additional 175 shares during the period. 87.74% of the stock is currently owned by institutional investors.
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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