Global Payments Inc (NYSE:GPN) has received an average recommendation of “Buy” from the twenty-eight ratings firms that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, five have given a hold rating and twenty-one have given a buy rating to the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $120.10.
A number of research analysts have recently weighed in on the company. Zacks Investment Research upgraded Global Payments from a “hold” rating to a “buy” rating and set a $124.00 price target on the stock in a report on Wednesday, June 27th. Robert W. Baird boosted their target price on Global Payments from $136.00 to $142.00 and gave the company an “outperform” rating in a research note on Wednesday. Morgan Stanley boosted their target price on Global Payments from $124.00 to $125.00 and gave the company an “equal weight” rating in a research note on Friday, August 3rd. ValuEngine upgraded Global Payments from a “hold” rating to a “buy” rating in a research note on Friday, August 3rd. Finally, Buckingham Research boosted their target price on Global Payments from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Friday, August 3rd.
Shares of Global Payments stock traded down $1.71 on Friday, reaching $116.23. 30,170 shares of the company were exchanged, compared to its average volume of 1,334,400. The firm has a market capitalization of $18.96 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 1.43 and a beta of 1.19. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.06. Global Payments has a fifty-two week low of $95.32 and a fifty-two week high of $129.25.
The business also recently declared a quarterly dividend, which was paid on Friday, September 28th. Shareholders of record on Friday, September 14th were given a $0.01 dividend. The ex-dividend date was Thursday, September 13th. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. Global Payments’s dividend payout ratio is currently 1.00%.
In related news, insider Cameron M. Bready sold 57,737 shares of the business’s stock in a transaction dated Wednesday, September 12th. The stock was sold at an average price of $127.78, for a total transaction of $7,377,633.86. Following the completion of the transaction, the insider now owns 189,083 shares of the company’s stock, valued at approximately $24,161,025.74. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Alan M. Silberstein sold 600 shares of the business’s stock in a transaction dated Monday, August 20th. The stock was sold at an average price of $119.01, for a total value of $71,406.00. Following the transaction, the director now directly owns 44,269 shares of the company’s stock, valued at approximately $5,268,453.69. The disclosure for this sale can be found here. Insiders sold 92,955 shares of company stock valued at $11,773,553 in the last ninety days. Insiders own 0.98% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its stake in shares of Global Payments by 28.2% in the 1st quarter. Russell Investments Group Ltd. now owns 53,017 shares of the business services provider’s stock valued at $5,888,000 after purchasing an additional 11,656 shares during the period. Lord Abbett & CO. LLC raised its stake in Global Payments by 50.9% during the 1st quarter. Lord Abbett & CO. LLC now owns 161,906 shares of the business services provider’s stock worth $18,056,000 after buying an additional 54,619 shares during the period. LPL Financial LLC raised its stake in Global Payments by 22.8% during the 1st quarter. LPL Financial LLC now owns 18,989 shares of the business services provider’s stock worth $2,113,000 after buying an additional 3,530 shares during the period. Point72 Asset Management L.P. acquired a new stake in Global Payments during the 1st quarter worth $2,141,000. Finally, Point72 Asia Hong Kong Ltd raised its stake in Global Payments by 8,133.3% during the 1st quarter. Point72 Asia Hong Kong Ltd now owns 1,235 shares of the business services provider’s stock worth $138,000 after buying an additional 1,220 shares during the period. 96.58% of the stock is owned by institutional investors and hedge funds.
Global Payments Company Profile
Global Payments Inc provides payment technology and software solutions for credit cards, debit cards, electronic payments, and check-related services. 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, online reporting, industry compliance, and payment card industry security services.
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