Global Payments (NYSE:GPN) had its target price boosted by Barclays from $195.00 to $210.00 in a research note released on Monday morning, The Fly reports. The brokerage currently has an overweight rating on the business services provider’s stock.
Several other research analysts have also issued reports on GPN. Guggenheim increased their price target on shares of Global Payments from $191.00 to $212.00 and gave the stock a buy rating in a research report on Tuesday, August 4th. Compass Point began coverage on shares of Global Payments in a report on Wednesday, September 16th. They set a buy rating and a $220.00 price objective for the company. Oppenheimer raised their price objective on shares of Global Payments from $190.00 to $202.00 and gave the stock an outperform rating in a report on Monday, June 29th. Morgan Stanley raised their price objective on shares of Global Payments from $161.00 to $172.00 and gave the stock an equal weight rating in a report on Tuesday, August 11th. Finally, KeyCorp raised their price objective on shares of Global Payments from $185.00 to $200.00 and gave the stock an overweight rating in a report on Monday, August 3rd. Six research analysts have rated the stock with a hold rating and thirty-one have assigned a buy rating to the stock. Global Payments has an average rating of Buy and an average target price of $201.06.
NYSE:GPN opened at $174.78 on Monday. Global Payments has a 12-month low of $105.54 and a 12-month high of $209.62. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.31. The firm has a market capitalization of $52.30 billion, a PE ratio of 118.09, a price-to-earnings-growth ratio of 1.39 and a beta of 1.10. The firm has a 50-day moving average price of $173.55 and a 200 day moving average price of $167.31.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a $0.195 dividend. The ex-dividend date is Wednesday, September 9th. This represents a $0.78 dividend on an annualized basis and a yield of 0.45%. Global Payments’s payout ratio is presently 13.31%.
In other news, Director William I. Jacobs sold 7,224 shares of Global Payments stock in a transaction on Friday, September 4th. The shares were sold at an average price of $174.90, for a total transaction of $1,263,477.60. Following the transaction, the director now directly owns 32,117 shares of the company’s stock, valued at $5,617,263.30. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director William I. Jacobs sold 500 shares of Global Payments stock in a transaction on Wednesday, July 15th. The stock was sold at an average price of $166.25, for a total transaction of $83,125.00. Following the transaction, the director now directly owns 24,893 shares in the company, valued at $4,138,461.25. The disclosure for this sale can be found here. Over the last three months, insiders have sold 8,224 shares of company stock worth $1,432,333. Insiders own 0.88% of the company’s stock.
Hedge funds and other institutional investors have recently made changes to their positions in the company. CX Institutional boosted its position in shares of Global Payments by 98.8% during the second quarter. CX Institutional now owns 169 shares of the business services provider’s stock worth $29,000 after purchasing an additional 84 shares in the last quarter. Campbell Wealth Management acquired a new stake in shares of Global Payments during the second quarter worth $30,000. Costello Asset Management INC acquired a new stake in shares of Global Payments during the second quarter worth $44,000. Maverick Capital Ltd. acquired a new stake in shares of Global Payments during the first quarter worth $38,000. Finally, Virtus Alternative Investment Advisers Inc. acquired a new stake in shares of Global Payments during the second quarter worth $45,000. 86.81% of the stock is currently owned by institutional investors.
About Global Payments
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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