Oppenheimer Increases Global Payments (GPN) Price Target to $161.00
Global Payments (NYSE:GPN) had its price objective lifted by Oppenheimer from $152.00 to $161.00 in a report issued on Wednesday morning, The Fly reports. The firm currently has an outperform rating on the business services provider’s stock.
Several other analysts have also recently commented on the company. Morgan Stanley raised their target price on Global Payments from $128.00 to $137.00 and gave the company an equal weight rating in a research report on Tuesday, May 7th. Cantor Fitzgerald raised their target price on Global Payments from $143.00 to $163.00 and gave the company an overweight rating in a research report on Friday, May 3rd. Jefferies Financial Group initiated coverage on Global Payments in a research report on Thursday, February 28th. They issued a buy rating and a $150.00 target price on the stock. Wedbush raised their target price on Global Payments from $135.00 to $144.00 and gave the company an outperform rating in a research report on Wednesday, March 13th. Finally, Barclays raised their target price on Global Payments from $133.00 to $145.00 and gave the company an overweight rating in a research report on Tuesday, February 19th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have given a buy rating to the company’s stock. The company has a consensus rating of Buy and a consensus target price of $146.31.
Shares of Global Payments stock opened at $154.04 on Wednesday. The company has a debt-to-equity ratio of 1.25, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $24.04 billion, a PE ratio of 29.68, a P/E/G ratio of 1.55 and a beta of 1.20. Global Payments has a twelve month low of $94.81 and a twelve month high of $158.73.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 28th. Shareholders of record on Friday, June 14th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date is Thursday, June 13th. Global Payments’s payout ratio is currently 0.77%.
In other Global Payments news, CEO Jeffrey Steven Sloan sold 167,545 shares of the stock in a transaction on Friday, March 8th. The stock was sold at an average price of $129.59, for a total transaction of $21,712,156.55. Following the completion of the transaction, the chief executive officer now directly owns 579,207 shares of the company’s stock, valued at approximately $75,059,435.13. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of the stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $146.36, for a total value of $622,030.00. Following the transaction, the director now directly owns 48,382 shares of the company’s stock, valued at $7,081,189.52. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 211,079 shares of company stock valued at $27,503,399. 0.88% of the stock is currently owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. Ranger Investment Management L.P. bought a new stake in shares of Global Payments during the 4th quarter worth $26,000. Cornerstone Advisors Inc. boosted its stake in shares of Global Payments by 114.9% during the 1st quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock worth $28,000 after acquiring an additional 108 shares in the last quarter. Berman Capital Advisors LLC boosted its stake in shares of Global Payments by 317.5% during the 1st quarter. Berman Capital Advisors LLC now owns 238 shares of the business services provider’s stock worth $32,000 after acquiring an additional 181 shares in the last quarter. JOYN Advisors Inc. boosted its stake in shares of Global Payments by 58.7% during the 4th quarter. JOYN Advisors Inc. now owns 346 shares of the business services provider’s stock worth $36,000 after acquiring an additional 128 shares in the last quarter. Finally, Bessemer Group Inc. boosted its stake in shares of Global Payments by 35.7% during the 4th quarter. Bessemer Group Inc. now owns 407 shares of the business services provider’s stock worth $43,000 after acquiring an additional 107 shares in the last quarter. 97.48% of the stock is owned by hedge funds and other 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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