Global Payments Inc. (GPN) Price Target Increased to $107.00 by Analysts at J P Morgan Chase & Co
Global Payments Inc. (NYSE:GPN) had its price objective lifted by J P Morgan Chase & Co from $106.00 to $107.00 in a report released on Tuesday morning. They currently have an overweight rating on the business services provider’s stock.
Several other research firms also recently weighed in on GPN. Royal Bank Of Canada reiterated a buy rating and set a $90.00 target price on shares of Global Payments in a research report on Monday, May 15th. Barclays PLC lifted their target price on Global Payments from $98.00 to $105.00 and gave the stock an overweight rating in a research report on Friday, August 4th. Credit Suisse Group reiterated an outperform rating and set a $97.00 target price (up from $91.00) on shares of Global Payments in a research report on Thursday, July 13th. Robert W. Baird reiterated a buy rating and set a $106.00 target price on shares of Global Payments in a research report on Tuesday, September 5th. Finally, Instinet reiterated a reduce rating and set a $79.00 target price (up from $70.00) on shares of Global Payments in a research report on Wednesday, May 17th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty-one have issued a buy rating to the stock. Global Payments presently has an average rating of Buy and a consensus price target of $97.34.
Global Payments (GPN) opened at 98.08 on Tuesday. The firm’s 50-day moving average is $94.95 and its 200-day moving average is $87.73. Global Payments has a 12 month low of $64.63 and a 12 month high of $98.14. The stock has a market capitalization of $14.96 billion, a P/E ratio of 76.09 and a beta of 1.11.
Global Payments (NYSE:GPN) last released its earnings results on Thursday, August 3rd. The business services provider reported $0.94 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The business had revenue of $847.90 million during the quarter, compared to the consensus estimate of $837.76 million. During the same period last year, the company earned $0.76 earnings per share. The business’s revenue for the quarter was up 18.4% compared to the same quarter last year. On average, equities analysts expect that Global Payments will post $3.95 earnings per share for the current fiscal year.
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The business also recently announced a quarterly dividend, which will be paid on Friday, September 29th. Shareholders of record on Friday, September 15th will be paid a $0.01 dividend. The ex-dividend date is Thursday, September 14th. This represents a $0.04 annualized dividend and a yield of 0.04%. Global Payments’s dividend payout ratio (DPR) is presently 3.07%.
In other news, EVP Guido Francesco Sacchi sold 25,927 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $95.22, for a total transaction of $2,468,768.94. Following the sale, the executive vice president now owns 34,622 shares in the company, valued at $3,296,706.84. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction dated Monday, June 19th. The stock was sold at an average price of $89.91, for a total value of $53,946.00. Following the sale, the director now owns 48,493 shares in the company, valued at approximately $4,360,005.63. The disclosure for this sale can be found here. Insiders sold 132,949 shares of company stock worth $12,557,401 in the last quarter. 0.93% of the stock is owned by insiders.
Hedge funds have recently modified their holdings of the company. Sun Life Financial INC grew its stake in shares of Global Payments by 15,728.6% during the second quarter. Sun Life Financial INC now owns 1,108 shares of the business services provider’s stock worth $100,000 after acquiring an additional 1,101 shares during the last quarter. Thompson Davis & CO. Inc. grew its stake in shares of Global Payments by 0.8% during the second quarter. Thompson Davis & CO. Inc. now owns 1,197 shares of the business services provider’s stock worth $108,000 after acquiring an additional 10 shares during the last quarter. Intellectus Partners LLC purchased a new stake in shares of Global Payments during the second quarter worth about $128,000. Commonwealth Bank of Australia grew its stake in shares of Global Payments by 13.6% during the second quarter. Commonwealth Bank of Australia now owns 1,466 shares of the business services provider’s stock worth $131,000 after acquiring an additional 176 shares during the last quarter. Finally, Stephens Inc. AR purchased a new stake in shares of Global Payments during the second quarter worth about $143,000. Institutional investors and hedge funds own 97.87% of the company’s stock.
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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