Global Payments (NYSE:GPN) had its target price hoisted by KeyCorp from $110.00 to $120.00 in a research note released on Friday morning. The firm currently has an overweight rating on the business services provider’s stock.
A number of other equities analysts have also recently issued reports on the company. SunTrust Banks reiterated a buy rating and issued a $130.00 target price on shares of Global Payments in a report on Friday. Deutsche Bank increased their target price on Global Payments and gave the stock a buy rating in a report on Friday. BMO Capital Markets reiterated a buy rating and issued a $135.00 target price on shares of Global Payments in a report on Friday. Barclays increased their target price on Global Payments to $128.00 and gave the stock an overweight rating in a report on Thursday. They noted that the move was a valuation call. Finally, Nomura increased their target price on Global Payments from $85.00 to $92.00 and gave the stock a reduce rating in a report on Tuesday, February 13th. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-two have given a buy rating to the company’s stock. Global Payments currently has an average rating of Buy and an average target price of $107.69.
Global Payments (NYSE GPN) opened at $114.35 on Friday. The stock has a market capitalization of $18,200.00, a P/E ratio of 57.46, a price-to-earnings-growth ratio of 1.70 and a beta of 1.14. Global Payments has a twelve month low of $76.47 and a twelve month high of $114.86. The company has a current ratio of 1.13, a quick ratio of 1.14 and a debt-to-equity ratio of 1.15.
Global Payments (NYSE:GPN) last issued its earnings results on Thursday, February 15th. The business services provider reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.01. Global Payments had a return on equity of 17.94% and a net margin of 11.78%. The company had revenue of $1.05 billion for the quarter, compared to analysts’ expectations of $943.39 million. During the same period last year, the business earned $0.89 EPS. Global Payments’s quarterly revenue was up 11.0% compared to the same quarter last year. sell-side analysts anticipate that Global Payments will post 4.53 earnings per share for the current fiscal year.
Global Payments announced that its Board of Directors has initiated a stock repurchase plan on Thursday, February 15th that allows the company to buyback $600.00 million in shares. This buyback authorization allows the business services provider to purchase shares of its stock through open market purchases. Shares buyback plans are often an indication that the company’s board of directors believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be given a dividend of $0.01 per share. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. The ex-dividend date is Thursday, March 15th. Global Payments’s dividend payout ratio is presently 2.01%.
In other news, Director William I. Jacobs sold 600 shares of the firm’s stock in a transaction on Wednesday, December 13th. The stock was sold at an average price of $100.43, for a total transaction of $60,258.00. Following the completion of the sale, the director now directly owns 38,275 shares of the company’s stock, valued at approximately $3,843,958.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Over the last ninety days, insiders have sold 3,000 shares of company stock valued at $310,314. Insiders own 0.93% of the company’s stock.
Several institutional investors have recently made changes to their positions in GPN. Capital International Investors increased its position in shares of Global Payments by 39.1% during the 3rd quarter. Capital International Investors now owns 2,678,334 shares of the business services provider’s stock valued at $254,522,000 after purchasing an additional 752,962 shares during the last quarter. Guggenheim Capital LLC increased its position in shares of Global Payments by 46.0% during the 4th quarter. Guggenheim Capital LLC now owns 807,566 shares of the business services provider’s stock valued at $80,951,000 after purchasing an additional 254,315 shares during the last quarter. Atlanta Capital Management Co. L L C purchased a new stake in shares of Global Payments during the 3rd quarter valued at $23,161,000. Element Capital Management LLC purchased a new stake in shares of Global Payments during the 4th quarter valued at $20,043,000. Finally, Capital Bank & Trust Co increased its position in shares of Global Payments by 102.2% during the 3rd quarter. Capital Bank & Trust Co now owns 393,153 shares of the business services provider’s stock valued at $37,361,000 after purchasing an additional 198,713 shares during the last quarter. 98.53% of the stock is owned by hedge funds and other institutional investors.
About Global Payments
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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