Global Payments (GPN) Sets New 1-Year High After Analyst Upgrade

Global Payments Inc (NYSE:GPN)’s share price reached a new 52-week high during mid-day trading on Tuesday after SunTrust Banks raised their price target on the stock to $155.00. SunTrust Banks currently has a buy rating on the stock. Global Payments traded as high as $139.82 and last traded at $139.16, with a volume of 25382 shares. The stock had previously closed at $138.31.

A number of other equities analysts also recently issued reports on the stock. Atlantic Securities downgraded shares of Global Payments from an “overweight” rating to a “neutral” rating and set a $133.36 price objective on the stock. in a report on Thursday, March 21st. Wedbush lifted their price objective on shares of Global Payments from $135.00 to $144.00 and gave the stock an “outperform” rating in a report on Wednesday, March 13th. Jefferies Financial Group began coverage on shares of Global Payments in a report on Thursday, February 28th. They set a “buy” rating and a $150.00 price objective on the stock. Barclays lifted their target price on 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 upgraded 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 issued a hold rating and seventeen have issued a buy rating to the company. Global Payments has an average rating of “Buy” and a consensus target price of $135.64.

In related news, Director Alan M. Silberstein sold 700 shares of the business’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $138.96, for a total value of $97,272.00. Following the sale, the director now directly owns 40,355 shares in the company, valued at approximately $5,607,730.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Alan M. Silberstein sold 4,276 shares of the business’s stock in a transaction dated Wednesday, March 13th. The shares were sold at an average price of $132.43, for a total value of $566,270.68. Following the completion of the sale, the director now owns 51,049 shares in the company, valued at $6,760,419.07. The disclosure for this sale can be found here. Insiders have sold a total of 210,329 shares of company stock worth $27,306,584 over the last quarter. Company insiders own 0.88% of the company’s stock.

A number of institutional investors have recently made changes to their positions in GPN. Lunia Capital LP bought a new stake in Global Payments in the 4th quarter valued at about $18,742,000. Norges Bank bought a new stake in Global Payments in the 4th quarter valued at about $131,343,000. Boston Partners bought a new stake in Global Payments in the 4th quarter valued at about $122,196,000. Marshall Wace North America L.P. raised its stake in Global Payments by 43.5% in the 3rd quarter. Marshall Wace North America L.P. now owns 2,162,102 shares of the business services provider’s stock valued at $275,452,000 after acquiring an additional 655,495 shares during the period. Finally, JPMorgan Chase & Co. raised its stake in Global Payments by 14.7% in the 3rd quarter. JPMorgan Chase & Co. now owns 4,520,530 shares of the business services provider’s stock valued at $575,914,000 after acquiring an additional 581,025 shares during the period. Institutional investors and hedge funds own 98.80% of the company’s stock.

The company has a market cap of $21.83 billion, a PE ratio of 26.75, a PEG ratio of 1.47 and a beta of 1.20. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.20.

Global Payments (NYSE:GPN) last announced its quarterly earnings data on Wednesday, February 13th. The business services provider reported $1.33 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.25 by $0.08. Global Payments had a return on equity of 19.11% and a net margin of 13.43%. The business had revenue of $1.04 billion for the quarter, compared to analysts’ expectations of $1.04 billion. During the same period in the previous year, the business posted $1.07 EPS. The firm’s quarterly revenue was up 12.3% compared to the same quarter last year. Equities analysts forecast that Global Payments Inc will post 5.72 EPS for the current year.

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

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About Global Payments (NYSE:GPN)

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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