Global Payments Inc (NYSE:GPN) declared a quarterly dividend on Friday, February 16th, Wall Street Journal reports. Shareholders of record on Friday, March 16th will be given a dividend of 0.01 per share by the business services provider on Friday, March 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, March 15th.
Global Payments has increased its dividend by an average of 2.7% per year over the last three years. Global Payments has a payout ratio of 1.0% meaning its dividend is sufficiently covered by earnings.
Global Payments (GPN) opened at $117.25 on Wednesday. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.15. Global Payments has a 52-week low of $76.47 and a 52-week high of $118.30. The stock has a market cap of $18,759.23, a PE ratio of 39.35, a price-to-earnings-growth ratio of 1.54 and a beta of 1.09.
A number of research firms have issued reports on GPN. Stephens restated a “buy” rating and set a $125.00 target price on shares of Global Payments in a research report on Tuesday, February 27th. KeyCorp upped their price target on Global Payments from $110.00 to $120.00 and gave the company an “overweight” rating in a research note on Friday, February 16th. Citigroup upped their price target on Global Payments from $122.00 to $125.00 and gave the company a “buy” rating in a research note on Friday, February 16th. SunTrust Banks reaffirmed a “buy” rating and issued a $130.00 price target on shares of Global Payments in a research note on Friday, February 16th. Finally, Deutsche Bank upped their price target on Global Payments and gave the company a “buy” rating in a research note on Friday, February 16th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and twenty-three have issued a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $109.40.
In related news, Director Alan M. Silberstein sold 600 shares of the stock in a transaction that occurred on Tuesday, February 20th. The stock was sold at an average price of $114.34, for a total transaction of $68,604.00. Following the completion of the sale, the director now directly owns 43,693 shares of the company’s stock, valued at approximately $4,995,857.62. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last three months, insiders have sold 3,000 shares of company stock valued at $318,660. 0.93% of the stock is owned by company insiders.
Global Payments declared that its board has initiated a share repurchase plan on Thursday, February 15th that allows the company to buyback $600.00 million in outstanding shares. This buyback authorization allows the business services provider to repurchase shares of its stock through open market purchases. Stock buyback plans are generally an indication that the company’s management believes its stock is undervalued.
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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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