Global Payments (NYSE:GPN) had its price objective lifted by Barclays from $215.00 to $225.00 in a research note issued to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the business services provider’s stock.
GPN has been the subject of several other reports. Robert W. Baird boosted their price objective on Global Payments from $188.00 to $203.00 and gave the company an outperform rating in a report on Wednesday, September 18th. Cowen reissued an outperform rating and issued a $206.00 price objective (up from $195.00) on shares of Global Payments in a report on Friday, December 13th. Wolfe Research set a $195.00 price objective on Global Payments and gave the company a buy rating in a report on Friday, November 1st. William Blair reissued an outperform rating on shares of Global Payments in a report on Thursday, October 17th. Finally, Oppenheimer boosted their price objective on Global Payments from $178.00 to $192.00 and gave the company an outperform rating in a report on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twenty-three have issued a buy rating to the company. The stock currently has an average rating of Buy and a consensus target price of $183.55.
Shares of NYSE GPN traded up $2.67 during midday trading on Tuesday, reaching $198.62. 1,854,500 shares of the company’s stock were exchanged, compared to its average volume of 1,467,817. Global Payments has a 52-week low of $109.95 and a 52-week high of $199.34. The stock has a market capitalization of $57.50 billion, a PE ratio of 38.27, a price-to-earnings-growth ratio of 1.46 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 business’s fifty day moving average price is $182.83 and its two-hundred day moving average price is $169.32.
Global Payments (NYSE:GPN) last announced its earnings results on Thursday, October 31st. The business services provider reported $1.70 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.67 by $0.03. Global Payments had a return on equity of 9.05% and a net margin of 10.59%. The business had revenue of $1.31 billion for the quarter, compared to analyst estimates of $1.16 billion. During the same period in the previous year, the company earned $1.44 earnings per share. The company’s revenue for the quarter was up 27.4% compared to the same quarter last year. Analysts predict that Global Payments will post 5.82 earnings per share for the current fiscal year.
The business also recently announced a dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a $0.195 dividend. This is an increase from Global Payments’s previous dividend of $0.01. The ex-dividend date of this dividend was Thursday, December 12th. Global Payments’s payout ratio is presently 15.03%.
In other Global Payments news, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction that occurred on Tuesday, January 14th. The stock was sold at an average price of $193.70, for a total value of $116,220.00. Following the completion of the transaction, the director now directly owns 26,588 shares in the company, valued at $5,150,095.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Kriss Cloninger III sold 7,877 shares of Global Payments stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $169.15, for a total value of $1,332,394.55. Following the completion of the transaction, the director now owns 26,155 shares of the company’s stock, valued at $4,424,118.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 9,677 shares of company stock valued at $1,660,457. 0.88% of the stock is currently owned by insiders.
A number of hedge funds have recently modified their holdings of GPN. First Financial Corp IN acquired a new position in shares of Global Payments during the third quarter worth approximately $27,000. Tarbox Family Office Inc. boosted its position in shares of Global Payments by 130.7% during the third quarter. Tarbox Family Office Inc. now owns 173 shares of the business services provider’s stock worth $28,000 after buying an additional 98 shares during the period. Evoke Wealth LLC acquired a new position in shares of Global Payments during the third quarter worth approximately $30,000. Resources Management Corp CT ADV acquired a new position in shares of Global Payments during the third quarter worth approximately $32,000. Finally, Coastal Investment Advisors Inc. boosted its position in shares of Global Payments by 500.0% during the third quarter. Coastal Investment Advisors Inc. now owns 210 shares of the business services provider’s stock worth $34,000 after buying an additional 175 shares during the period. Institutional investors own 87.74% of the company’s stock.
Global Payments Company Profile
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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