Global Payments (NYSE:GPN) had its target price increased by Barclays to $128.00 in a report published on Thursday. Barclays currently has an overweight rating on the business services provider’s stock. The analysts noted that the move was a valuation call.
Other research analysts have also issued reports about the stock. Nomura raised their price target on shares of Global Payments from $85.00 to $92.00 and gave the company a reduce rating in a research note on Tuesday, February 13th. Oppenheimer raised their price target on shares of Global Payments from $21.00 to $23.00 and gave the company an outperform rating in a research note on Friday, January 19th. Keefe, Bruyette & Woods reaffirmed a buy rating and issued a $113.00 price target on shares of Global Payments in a research note on Friday, November 17th. Credit Suisse Group reaffirmed an outperform rating and issued a $108.00 price target (up from $100.00) on shares of Global Payments in a research note on Thursday, November 9th. They noted that the move was a valuation call. Finally, Morgan Stanley raised their price target on shares of Global Payments from $106.00 to $110.00 and gave the company an equal weight rating in a research note on Thursday, November 9th. Two research analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-two have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $107.69.
Global Payments (NYSE:GPN) opened at $114.35 on Thursday. The firm has a market cap of $18,197.89, a PE ratio of 38.37, a P/E/G ratio of 1.70 and a beta of 1.14. Global Payments has a 12 month low of $76.47 and a 12 month high of $114.86. The company has a quick ratio of 1.14, a current ratio of 1.13 and a debt-to-equity ratio of 1.15.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Stockholders of record on Friday, March 16th will be issued a dividend of $0.01 per share. The ex-dividend date is Thursday, March 15th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Global Payments’s dividend payout ratio is currently 1.34%.
Global Payments announced that its Board of Directors has initiated a share buyback program on Thursday, February 15th that permits the company to buyback $600.00 million in shares. This buyback authorization permits the business services provider to reacquire shares of its stock through open market purchases. Stock buyback programs are often a sign that the company’s board of directors believes its shares are undervalued.
In other news, Director Alan M. Silberstein sold 600 shares of the firm’s stock in a transaction that occurred on Monday, November 20th. The shares were sold at an average price of $100.48, for a total transaction of $60,288.00. Following the completion of the sale, the director now owns 45,493 shares in the company, valued at approximately $4,571,136.64. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold a total of 3,600 shares of company stock valued at $370,602 in the last 90 days. Insiders own 0.93% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in GPN. Capital International Investors increased its holdings in shares of Global Payments by 39.1% during the 3rd quarter. Capital International Investors now owns 2,678,334 shares of the business services provider’s stock worth $254,522,000 after buying an additional 752,962 shares during the last quarter. Guggenheim Capital LLC increased its holdings in shares of Global Payments by 46.0% during the 4th quarter. Guggenheim Capital LLC now owns 807,566 shares of the business services provider’s stock worth $80,951,000 after buying an additional 254,315 shares during the last quarter. Atlanta Capital Management Co. L L C acquired a new stake in shares of Global Payments during the 3rd quarter worth approximately $23,161,000. Element Capital Management LLC acquired a new stake in shares of Global Payments during the 4th quarter worth approximately $20,043,000. Finally, Capital Bank & Trust Co increased its holdings in shares of Global Payments by 102.2% during the 3rd quarter. Capital Bank & Trust Co now owns 393,153 shares of the business services provider’s stock worth $37,361,000 after buying an additional 198,713 shares during the last quarter. Institutional investors and hedge funds own 98.53% of the company’s stock.
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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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