Credit Suisse Group restated their outperform rating on shares of Global Payments Inc. (NYSE:GPN) in a report released on Thursday. They currently have a $108.00 price objective on the business services provider’s stock, up from their prior price objective of $100.00. The analysts noted that the move was a valuation call.
GPN has been the subject of a number of other reports. Piper Jaffray Companies lifted their price objective on Global Payments to $105.00 and gave the stock a neutral rating in a research note on Wednesday. Robert W. Baird boosted their target price on Global Payments from $106.00 to $110.00 and gave the company an outperform rating in a research note on Thursday, September 28th. Nomura reissued a sell rating and issued a $83.00 target price on shares of Global Payments in a research note on Monday, October 16th. Morgan Stanley boosted their target price on Global Payments from $98.00 to $106.00 and gave the company an equal weight rating in a research note on Thursday, November 2nd. Finally, J P Morgan Chase & Co boosted their target price on Global Payments from $106.00 to $107.00 and gave the company an overweight rating in a research note on Tuesday, September 12th. Two analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-four have assigned a buy rating to the company’s stock. Global Payments presently has a consensus rating of Buy and an average target price of $104.56.
Shares of Global Payments (GPN) traded down $0.47 during trading on Thursday, hitting $98.85. The company had a trading volume of 1,142,800 shares, 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 twelve month low of $64.63 and a twelve month high of $104.83. The firm has a market capitalization of $15,731.19, a PE ratio of 26.57, a PEG ratio of 1.81 and a beta of 1.14.
Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 EPS for the quarter, topping analysts’ consensus estimates of $1.03 by $0.12. Global Payments had a return on equity of 18.50% and a net margin of 7.14%. The business had revenue of $1.04 billion during the quarter, compared to analysts’ expectations of $917.31 million. During the same period in the previous year, the firm earned $0.89 earnings per share. The firm’s quarterly revenue was up 9.1% compared to the same quarter last year. research analysts predict that Global Payments will post 3.75 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 29th. Shareholders of record on Friday, December 15th will be given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, December 14th. Global Payments’s dividend payout ratio (DPR) is presently 2.23%.
In other news, Director Robert H. B. Baldwin, Jr. sold 5,600 shares of the company’s stock in a transaction that occurred on Tuesday, August 15th. The stock was sold at an average price of $94.58, for a total value of $529,648.00. Following the transaction, the director now owns 178,177 shares of the company’s stock, valued at $16,851,980.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the company’s stock in a transaction that occurred on Thursday, October 12th. The shares were sold at an average price of $99.82, for a total value of $2,595,320.00. The disclosure for this sale can be found here. Insiders sold 77,755 shares of company stock worth $7,535,230 in the last ninety days. 0.93% of the stock is owned by company insiders.
Several institutional investors have recently bought and sold shares of the company. Wells Fargo & Company MN grew its position in shares of Global Payments by 9.3% in the third quarter. Wells Fargo & Company MN now owns 1,679,426 shares of the business services provider’s stock valued at $159,596,000 after purchasing an additional 142,950 shares during the last quarter. Zeke Capital Advisors LLC acquired a new position in shares of Global Payments in the third quarter valued at approximately $215,000. Paradice Investment Management LLC grew its position in shares of Global Payments by 2.0% in the third quarter. Paradice Investment Management LLC now owns 647,995 shares of the business services provider’s stock valued at $61,579,000 after purchasing an additional 12,622 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in Global Payments by 9.5% during the third quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 12,401 shares of the business services provider’s stock worth $1,178,000 after buying an additional 1,072 shares in the last quarter. Finally, Trexquant Investment LP acquired a new stake in Global Payments during the third quarter worth approximately $1,865,000. 98.10% of the stock is currently owned by institutional investors.
Global Payments Company Profile
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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