Citigroup Inc. restated their buy rating on shares of Global Payments Inc. (NYSE:GPN) in a research note released on Thursday. The brokerage currently has a $116.00 target price on the business services provider’s stock, up from their prior target price of $107.00.
A number of other analysts have also recently weighed in on the stock. Credit Suisse Group reaffirmed an outperform rating on shares of Global Payments in a research report on Tuesday, September 5th. Deutsche Bank AG reaffirmed a buy rating and set a $115.00 price target (up from $100.00) on shares of Global Payments in a research report on Tuesday, October 10th. Robert W. Baird reaffirmed a buy rating and set a $106.00 price target on shares of Global Payments in a research report on Tuesday, September 5th. Zacks Investment Research raised shares of Global Payments from a hold rating to a buy rating and set a $110.00 price target for the company in a research report on Wednesday, October 11th. Finally, Barclays PLC upped their price objective on shares of Global Payments from $105.00 to $116.00 and gave the company an overweight rating in a research report on Wednesday, October 11th. Two investment 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 stock. The stock currently has a consensus rating of Buy and an average price target of $104.56.
Shares of Global Payments (GPN) traded down $0.47 during trading on Thursday, reaching $98.85. 1,142,800 shares of the company were exchanged, compared to its average volume of 1,117,132. The company has a current ratio of 1.14, a quick ratio of 1.20 and a debt-to-equity ratio of 1.27. Global Payments has a 12-month low of $64.63 and a 12-month high of $104.83. The stock has a market cap of $15,731.19, a PE ratio of 26.57, a price-to-earnings-growth ratio of 1.81 and a beta of 1.14.
Global Payments (NYSE:GPN) last announced its quarterly earnings results on Wednesday, November 8th. The business services provider reported $1.15 earnings per share for the quarter, topping analysts’ consensus estimates of $1.03 by $0.12. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The firm had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $917.31 million. During the same period in the prior year, the company earned $0.89 EPS. The firm’s revenue was up 9.1% on a year-over-year basis. analysts predict that Global Payments will post 3.75 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be paid a dividend of $0.01 per share. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $0.04 annualized dividend and a yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is 2.23%.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the company’s stock in a transaction dated Thursday, October 12th. The shares were sold at an average price of $99.82, for a total value of $2,595,320.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction dated Monday, August 14th. The stock was sold at an average price of $94.20, for a total transaction of $56,520.00. Following the completion of the transaction, the director now owns 49,103 shares of the company’s stock, valued at approximately $4,625,502.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 77,755 shares of company stock worth $7,535,230. 0.93% of the stock is owned by company insiders.
A number of hedge funds and other institutional investors have recently bought and sold shares of GPN. Sun Life Financial INC grew its position in Global Payments by 15,728.6% in the 2nd quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock worth $100,000 after purchasing an additional 1,101 shares during the last quarter. Thompson Davis & CO. Inc. grew its position in Global Payments by 0.8% in the 2nd quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after purchasing an additional 10 shares during the last quarter. Intellectus Partners LLC bought a new position in Global Payments in the 2nd quarter worth about $128,000. Commonwealth Bank of Australia grew its position in Global Payments by 13.6% in the 2nd quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock worth $131,000 after purchasing an additional 176 shares during the last quarter. Finally, Stephens Inc. AR bought a new position in Global Payments in the 2nd quarter worth about $143,000. Hedge funds and other institutional investors own 98.10% of the company’s stock.
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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