Global Payments Inc (NYSE:GPN)’s share price reached a new 52-week high and low during mid-day trading on Tuesday . The company traded as low as $119.25 and last traded at $119.17, with a volume of 26451 shares. The stock had previously closed at $117.11.
Several equities analysts recently weighed in on GPN shares. KeyCorp lifted their target price on Global Payments from $110.00 to $120.00 and gave the company an “overweight” rating in a research report on Friday, February 16th. Barclays lifted their target price on Global Payments to $128.00 and gave the company an “overweight” rating in a research report on Thursday, February 15th. They noted that the move was a valuation call. Stephens reiterated a “buy” rating and set a $125.00 target price on shares of Global Payments in a research report on Tuesday, February 27th. SunTrust Banks lifted their target price on Global Payments to $145.00 and gave the company a “buy” rating in a research report on Friday, March 2nd. Finally, Citigroup lifted their target price on Global Payments from $122.00 to $125.00 and gave the company a “buy” rating in a research report on Friday, February 16th. One research analyst has rated the stock with a sell rating, four have given a hold rating and twenty-one have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $112.42.
The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 1.01. The firm has a market capitalization of $18.64 billion, a PE ratio of 29.62, a PEG ratio of 1.40 and a beta of 1.11.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Investors of record on Friday, June 15th will be given a $0.01 dividend. The ex-dividend date of this dividend is Thursday, June 14th. This represents a $0.04 annualized dividend and a yield of 0.03%. Global Payments’s dividend payout ratio is currently 1.00%.
Global Payments declared that its board has approved a stock buyback program on Thursday, February 15th that authorizes the company to repurchase $600.00 million in shares. This repurchase authorization authorizes the business services provider to buy shares of its stock through open market purchases. Stock repurchase programs are usually an indication that the company’s management believes its stock is undervalued.
In other Global Payments news, Director Ruth Ann Marshall sold 6,250 shares of the business’s stock in a transaction that occurred on Tuesday, May 8th. The stock was sold at an average price of $114.03, for a total transaction of $712,687.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction that occurred on Friday, May 18th. The shares were sold at an average price of $114.00, for a total value of $68,400.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 22,048 shares of company stock valued at $2,563,468. 0.98% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in GPN. Point72 Asia Hong Kong Ltd boosted its holdings in shares of Global Payments by 8,133.3% in the first quarter. Point72 Asia Hong Kong Ltd now owns 1,235 shares of the business services provider’s stock valued at $138,000 after purchasing an additional 1,220 shares during the period. SWS Partners bought a new position in Global Payments in the fourth quarter worth approximately $163,000. Tower Research Capital LLC TRC raised its stake in Global Payments by 2,412.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 1,658 shares of the business services provider’s stock worth $166,000 after buying an additional 1,592 shares in the last quarter. Quantitative Systematic Strategies LLC bought a new position in Global Payments in the first quarter worth approximately $202,000. Finally, TLP Group LLC raised its stake in Global Payments by 3,067.2% in the first quarter. TLP Group LLC now owns 1,932 shares of the business services provider’s stock worth $215,000 after buying an additional 1,871 shares in the last quarter. Institutional investors and hedge funds own 96.28% of the company’s stock.
About Global Payments
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.
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