Global Payments (NYSE:GPN) Price Target Raised to $70.00

Global Payments (NYSE:GPN) had its target price increased by Rothschild & Co Redburn from $65.00 to $70.00 in a report released on Wednesday,MarketScreener reports. Rothschild & Co Redburn currently has a sell rating on the business services provider’s stock.

A number of other research firms also recently commented on GPN. TD Cowen lifted their price target on Global Payments from $92.00 to $95.00 and gave the stock a “hold” rating in a research note on Wednesday, November 5th. KeyCorp downgraded Global Payments from an “overweight” rating to a “sector weight” rating in a report on Wednesday, October 22nd. Wells Fargo & Company upgraded Global Payments to a “strong-buy” rating in a report on Wednesday, October 22nd. Royal Bank Of Canada raised their price objective on Global Payments from $93.00 to $95.00 and gave the stock a “sector perform” rating in a research note on Wednesday, November 5th. Finally, Jefferies Financial Group decreased their price objective on shares of Global Payments from $85.00 to $75.00 and set a “hold” rating for the company in a report on Monday, November 24th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Global Payments has an average rating of “Hold” and a consensus target price of $102.29.

Global Payments Stock Performance

Global Payments stock opened at $78.91 on Wednesday. Global Payments has a 52 week low of $65.93 and a 52 week high of $118.86. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.57. The stock has a market cap of $18.68 billion, a P/E ratio of 11.08, a price-to-earnings-growth ratio of 0.76 and a beta of 0.82. The stock has a 50 day moving average of $80.59 and a 200-day moving average of $81.43.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Tuesday, November 4th. The business services provider reported $3.26 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.23 by $0.03. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.41 billion. Global Payments had a net margin of 19.68% and a return on equity of 12.66%. During the same period in the prior year, the company posted $3.08 earnings per share. Global Payments has set its FY 2025 guidance at 6.600-6.666 EPS. On average, analysts expect that Global Payments will post 11.89 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 26th. Stockholders of record on Friday, December 12th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, December 12th. This represents a $1.00 annualized dividend and a dividend yield of 1.3%. Global Payments’s payout ratio is 14.04%.

Insider Buying and Selling

In related news, Director Connie D. Mcdaniel sold 4,464 shares of Global Payments stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $77.81, for a total value of $347,343.84. Following the sale, the director directly owned 30,014 shares in the company, valued at $2,335,389.34. This trade represents a 12.95% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David Lawrence Green sold 11,600 shares of the business’s stock in a transaction dated Wednesday, December 3rd. The shares were sold at an average price of $79.99, for a total transaction of $927,884.00. Following the transaction, the insider directly owned 68,096 shares of the company’s stock, valued at $5,446,999.04. The trade was a 14.56% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Corporate insiders own 1.01% of the company’s stock.

Institutional Trading of Global Payments

Several large investors have recently added to or reduced their stakes in the business. Allworth Financial LP increased its stake in Global Payments by 43.2% in the third quarter. Allworth Financial LP now owns 610 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 184 shares in the last quarter. CIBC Private Wealth Group LLC boosted its position in shares of Global Payments by 19.8% during the third quarter. CIBC Private Wealth Group LLC now owns 3,926 shares of the business services provider’s stock worth $326,000 after purchasing an additional 650 shares in the last quarter. Prana Capital Management LP grew its holdings in shares of Global Payments by 36.2% in the 3rd quarter. Prana Capital Management LP now owns 418,095 shares of the business services provider’s stock valued at $34,735,000 after buying an additional 111,051 shares during the period. CIBC Bancorp USA Inc. acquired a new position in shares of Global Payments in the 3rd quarter valued at $2,785,000. Finally, Coldstream Capital Management Inc. bought a new stake in shares of Global Payments in the 3rd quarter valued at $227,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.