SunTrust Banks Increases Global Payments (GPN) Price Target to $155.00

Global Payments (NYSE:GPN) had its price objective increased by SunTrust Banks to $155.00 in a research report report published on Tuesday, The Fly reports. The brokerage currently has a buy rating on the business services provider’s stock. SunTrust Banks also issued estimates for Global Payments’ Q1 2019 earnings at $1.24 EPS, Q2 2019 earnings at $1.43 EPS, Q3 2019 earnings at $1.63 EPS, Q4 2019 earnings at $1.36 EPS and FY2019 earnings at $5.69 EPS.

Several other research analysts have also issued reports on the stock. Atlantic Securities lowered shares of Global Payments from an overweight rating to a neutral rating and set a $133.36 target price on the stock. in a research note on Thursday, March 21st. Wedbush increased their target price on shares of Global Payments from $135.00 to $144.00 and gave the stock an outperform rating in a research note on Wednesday, March 13th. Jefferies Financial Group assumed coverage on shares of Global Payments in a research note on Thursday, February 28th. They set a buy rating and a $150.00 target price on the stock. Barclays increased their target price on shares of Global Payments from $133.00 to $145.00 and gave the stock an overweight rating in a research note on Tuesday, February 19th. Finally, Zacks Investment Research raised shares of Global Payments from a sell rating to a hold rating in a research note on Monday, February 18th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and seventeen have assigned a buy rating to the stock. The company currently has a consensus rating of Buy and an average target price of $135.64.

Shares of NYSE GPN opened at $139.67 on Tuesday. The firm has a market cap of $22.05 billion, a P/E ratio of 26.91, a P/E/G ratio of 1.46 and a beta of 1.20. Global Payments has a 12-month low of $94.81 and a 12-month high of $139.82. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.03 and a current ratio of 1.03.

Global Payments (NYSE:GPN) last issued its earnings results on Wednesday, February 13th. The business services provider reported $1.33 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.25 by $0.08. The business had revenue of $1.04 billion for the quarter, compared to analyst estimates of $1.04 billion. Global Payments had a net margin of 13.43% and a return on equity of 19.11%. Global Payments’s revenue was up 12.3% on a year-over-year basis. During the same period in the prior year, the firm earned $1.07 earnings per share. Equities research analysts predict that Global Payments will post 5.72 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which was paid on Friday, March 29th. Investors of record on Friday, March 15th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date was Thursday, March 14th. Global Payments’s payout ratio is currently 0.77%.

In related news, Director Alan M. Silberstein sold 700 shares of the firm’s stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $138.96, for a total transaction of $97,272.00. Following the transaction, the director now directly owns 40,355 shares of the company’s stock, valued at $5,607,730.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Steven Sloan sold 167,545 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $129.59, for a total transaction of $21,712,156.55. Following the transaction, the chief executive officer now directly owns 579,207 shares in the company, valued at $75,059,435.13. The disclosure for this sale can be found here. Insiders have sold 210,329 shares of company stock worth $27,306,584 over the last three months. 0.88% of the stock is owned by insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Lunia Capital LP purchased a new stake in Global Payments during the fourth quarter worth about $18,742,000. Norges Bank purchased a new stake in Global Payments during the fourth quarter worth about $131,343,000. Boston Partners purchased a new stake in Global Payments during the fourth quarter worth about $122,196,000. Marshall Wace North America L.P. increased its holdings in Global Payments by 43.5% during the third quarter. Marshall Wace North America L.P. now owns 2,162,102 shares of the business services provider’s stock worth $275,452,000 after buying an additional 655,495 shares during the last quarter. Finally, JPMorgan Chase & Co. increased its holdings in Global Payments by 14.7% during the third quarter. JPMorgan Chase & Co. now owns 4,520,530 shares of the business services provider’s stock worth $575,914,000 after buying an additional 581,025 shares during the last quarter. 98.80% of the stock is currently owned by institutional investors.

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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