Global Payments (NYSE:GPN) Price Target Raised to $100.00

Global Payments (NYSE:GPN) had its price objective hoisted by JPMorgan Chase & Co. from $95.00 to $100.00 in a research report released on Friday morning,Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the business services provider’s stock.

Other equities analysts have also issued reports about the company. Truist Financial decreased their price objective on Global Payments from $95.00 to $86.00 and set a “hold” rating for the company in a report on Friday, October 23rd. The Goldman Sachs Group lifted their target price on Global Payments from $82.00 to $94.00 and gave the company a “neutral” rating in a research note on Thursday, August 6th. Bank of America reaffirmed a “buy” rating on shares of Global Payments in a research note on Friday. UBS Group started coverage on shares of Global Payments in a research note on Thursday, August 6th. They issued a “buy” rating for the company. Finally, TD Cowen upped their target price on Global Payments from $90.00 to $95.00 and gave the stock a “hold” rating in a research report on Wednesday, August 26th. Thirteen equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and three have given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $97.79.

Global Payments Trading Up 0.0%

Shares of NYSE:GPN opened at $97.42 on Friday. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.89. The company’s 50-day moving average price is $86.72 and its 200 day moving average price is $77.54. The company has a market cap of $25.78 billion, a PE ratio of -21.36, a P/E/G ratio of 0.47 and a beta of 0.83. Global Payments has a fifty-two week low of $61.16 and a fifty-two week high of $101.32.

Global Payments (NYSE:GPN) last posted its earnings results on Thursday, November 5th. The business services provider reported $3.58 EPS for the quarter, hitting the consensus estimate of $3.58. Global Payments had a negative net margin of 11.21% and a positive return on equity of 14.43%. The firm had revenue of $3.18 billion during the quarter, compared to analysts’ expectations of $3.18 billion. During the same quarter in the prior year, the firm earned $3.26 EPS. Global Payments’s quarterly revenue was up 36.1% on a year-over-year basis. Sell-side analysts anticipate that Global Payments will post 13.65 earnings per share for the current year.

Global Payments Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Thursday, December 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $1.00 annualized dividend and a dividend yield of 1.0%. Global Payments’s payout ratio is currently -21.93%.

Institutional Trading of Global Payments

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Western Wealth Management LLC purchased a new stake in shares of Global Payments in the 1st quarter valued at approximately $34,000. Nvwm LLC purchased a new position in Global Payments during the 3rd quarter worth approximately $41,000. Jacobi Capital Management LLC purchased a new position in Global Payments during the 3rd quarter worth approximately $47,000. Mather Group LLC. raised its stake in Global Payments by 25.2% during the 3rd quarter. Mather Group LLC. now owns 622 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 125 shares during the period. Finally, Fortitude Family Office LLC raised its stake in Global Payments by 365.7% during the 3rd quarter. Fortitude Family Office LLC now owns 624 shares of the business services provider’s stock valued at $51,000 after purchasing an additional 490 shares during the period. 89.76% of the stock is currently owned by institutional investors.

About Global Payments

Global Payments Inc is a payment technology and software company that helps businesses accept and manage payments. Its services support in-person, online and mobile transactions, along with point-of-sale systems and software for business operations.

The company also provides technology to financial institutions and other organizations that issue payment cards. Its services include card processing, account management and related digital tools.

Global Payments serves customers across a range of industries and operates internationally, with services available in many countries.