Global Payments (NYSE:GPN) PT Raised to $218.00 at Wedbush

Global Payments (NYSE:GPN) had its target price boosted by Wedbush from $185.00 to $218.00 in a report issued on Monday, The Fly reports. They currently have an outperform rating on the business services provider’s stock.

Several other research firms have also recently weighed in on GPN. Oppenheimer lifted their price objective on shares of Global Payments from $178.00 to $192.00 and gave the stock an outperform rating in a research report on Friday, November 1st. JPMorgan Chase & Co. set a $203.00 price objective on shares of Global Payments and gave the stock a buy rating in a research report on Friday, November 1st. ValuEngine cut shares of Global Payments from a hold rating to a sell rating in a research report on Tuesday, December 3rd. UBS Group assumed coverage on shares of Global Payments in a research report on Monday, October 14th. They set a buy rating and a $193.00 price objective on the stock. Finally, Goldman Sachs Group reiterated a buy rating and set a $212.00 price objective on shares of Global Payments in a research report on Tuesday, September 24th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and twenty-three have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus price target of $183.55.

NYSE GPN opened at $192.26 on Monday. Global Payments has a twelve month low of $109.52 and a twelve month high of $193.52. 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 stock has a market cap of $57.24 billion, a price-to-earnings ratio of 37.04, a PEG ratio of 1.45 and a beta of 0.95. The firm’s 50 day moving average price is $182.02 and its two-hundred day moving average price is $168.80.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, October 31st. The business services provider reported $1.70 earnings per share for the quarter, topping the consensus estimate of $1.67 by $0.03. Global Payments had a net margin of 10.59% and a return on equity of 9.05%. The firm had revenue of $1.31 billion for the quarter, compared to analysts’ expectations of $1.16 billion. During the same period in the previous year, the company posted $1.44 EPS. The company’s quarterly revenue was up 27.4% compared to the same quarter last year. On average, research analysts forecast that Global Payments will post 5.82 EPS 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 dividend of $0.195 per share. The ex-dividend date was Thursday, December 12th. This is a positive change from Global Payments’s previous dividend of $0.01. Global Payments’s dividend payout ratio (DPR) is 15.03%.

In related news, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction on Thursday, November 14th. The shares were sold at an average price of $173.37, for a total value of $104,022.00. Following the completion of the sale, the director now owns 27,788 shares of the company’s stock, valued at approximately $4,817,605.56. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Joia M. Johnson acquired 575 shares of Global Payments stock in a transaction that occurred on Tuesday, November 5th. The stock was acquired at an average cost of $169.35 per share, with a total value of $97,376.25. Following the purchase, the director now owns 1,787 shares in the company, valued at approximately $302,628.45. The disclosure for this purchase can be found here. Insiders have sold a total of 9,077 shares of company stock valued at $1,544,237 in the last three months. Company insiders own 0.88% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in the stock. Price T Rowe Associates Inc. MD raised its holdings in Global Payments by 7.2% in the 2nd quarter. Price T Rowe Associates Inc. MD now owns 20,699,119 shares of the business services provider’s stock worth $3,314,531,000 after acquiring an additional 1,392,325 shares during the period. Vanguard Group Inc. raised its holdings in Global Payments by 0.9% in the 2nd quarter. Vanguard Group Inc. now owns 17,087,422 shares of the business services provider’s stock worth $2,736,209,000 after acquiring an additional 150,503 shares during the period. State Street Corp raised its holdings in Global Payments by 90.4% in the 3rd quarter. State Street Corp now owns 11,614,424 shares of the business services provider’s stock worth $1,846,693,000 after acquiring an additional 5,515,148 shares during the period. BlackRock Inc. raised its holdings in Global Payments by 4.3% in the 2nd quarter. BlackRock Inc. now owns 11,019,167 shares of the business services provider’s stock worth $1,764,501,000 after acquiring an additional 452,606 shares during the period. Finally, Synovus Financial Corp raised its holdings in Global Payments by 622,774.1% in the 3rd quarter. Synovus Financial Corp now owns 9,293,282 shares of the business services provider’s stock worth $1,477,630,000 after acquiring an additional 9,291,790 shares during the period. 87.74% of the stock is owned by institutional investors and hedge funds.

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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