Brokerages Set Global Payments Inc (GPN) PT at $118.95

Global Payments Inc (NYSE:GPN) has received an average recommendation of “Buy” from the twenty-nine brokerages that are currently covering the stock, MarketBeat reports. Two investment analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-two have issued a buy rating on the company. The average twelve-month price target among analysts that have issued ratings on the stock in the last year is $118.95.

A number of brokerages have recently commented on GPN. Zacks Investment Research upgraded Global Payments from a “hold” rating to a “buy” rating and set a $124.00 price target for the company in a report on Wednesday, June 27th. Cfra reiterated a “hold” rating and set a $119.00 price target on shares of Global Payments in a report on Thursday, August 2nd. ValuEngine upgraded Global Payments from a “hold” rating to a “buy” rating in a report on Friday, August 3rd. Deutsche Bank upped their price target on Global Payments to $140.00 and gave the stock a “buy” rating in a report on Friday, September 14th. Finally, Morgan Stanley upped their price target on Global Payments from $124.00 to $125.00 and gave the stock an “equal weight” rating in a report on Friday, August 3rd.

In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of the company’s stock in a transaction on Monday, July 16th. The stock was sold at an average price of $117.34, for a total value of $352,020.00. Following the sale, the director now directly owns 90,149 shares in the company, valued at $10,578,083.66. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 4,125 shares of the company’s stock in a transaction on Friday, September 14th. The shares were sold at an average price of $128.76, for a total value of $531,135.00. Following the completion of the sale, the director now owns 83,024 shares in the company, valued at $10,690,170.24. The disclosure for this sale can be found here. Insiders sold 93,430 shares of company stock valued at $11,833,594 over the last 90 days. 0.98% of the stock is currently owned by corporate insiders.

A number of large investors have recently made changes to their positions in GPN. FMR LLC grew its position in Global Payments by 12.5% in the second quarter. FMR LLC now owns 9,712,626 shares of the business services provider’s stock valued at $1,082,860,000 after acquiring an additional 1,082,153 shares during the period. Janus Henderson Group PLC grew its position in Global Payments by 36.5% in the second quarter. Janus Henderson Group PLC now owns 3,501,061 shares of the business services provider’s stock valued at $390,333,000 after acquiring an additional 935,336 shares during the period. Temasek Holdings Private Ltd grew its position in Global Payments by 252.8% in the second quarter. Temasek Holdings Private Ltd now owns 876,176 shares of the business services provider’s stock valued at $97,685,000 after acquiring an additional 627,814 shares during the period. The Manufacturers Life Insurance Company grew its position in Global Payments by 209.3% in the first quarter. The Manufacturers Life Insurance Company now owns 681,013 shares of the business services provider’s stock valued at $75,948,000 after acquiring an additional 460,813 shares during the period. Finally, Menora Mivtachim Holdings LTD. bought a new stake in Global Payments in the second quarter valued at $39,267,000. Hedge funds and other institutional investors own 96.27% of the company’s stock.

Shares of GPN stock traded up $0.01 during trading hours on Wednesday, reaching $127.20. 18,697 shares of the company’s stock were exchanged, compared to its average volume of 809,110. Global Payments has a fifty-two week low of $92.97 and a fifty-two week high of $129.25. The firm has a market cap of $20.12 billion, a PE ratio of 31.50, a price-to-earnings-growth ratio of 1.51 and a beta of 1.20. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.06.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, August 2nd. The business services provider reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $1.22 by $0.07. Global Payments had a return on equity of 17.99% and a net margin of 14.86%. The company had revenue of $982.50 million during the quarter, compared to analyst estimates of $968.75 million. During the same period in the previous year, the company earned $0.94 earnings per share. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. equities analysts predict that Global Payments will post 4.87 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, September 28th. Investors of record on Friday, September 14th will be paid a $0.01 dividend. The ex-dividend date is Thursday, September 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Global Payments’s payout ratio is 1.00%.

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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Analyst Recommendations for Global Payments (NYSE:GPN)

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