BMO Capital Markets Raises Global Payments (NYSE:GPN) Price Target to $232.00

Global Payments (NYSE:GPNGet Rating) had its target price raised by BMO Capital Markets from $217.00 to $232.00 in a research report sent to investors on Wednesday, The Fly reports.

GPN has been the subject of a number of other research reports. Mizuho cut their price objective on shares of Global Payments from $155.00 to $148.00 in a report on Tuesday, May 3rd. The Goldman Sachs Group initiated coverage on shares of Global Payments in a report on Tuesday, May 17th. They issued a neutral rating and a $151.00 price objective for the company. Citigroup dropped their target price on shares of Global Payments from $195.00 to $180.00 in a research report on Monday, April 25th. Credit Suisse Group lowered shares of Global Payments from an outperform rating to a neutral rating and dropped their target price for the company from $180.00 to $145.00 in a research report on Friday, July 22nd. Finally, Keefe, Bruyette & Woods dropped their target price on shares of Global Payments from $175.00 to $155.00 in a research report on Monday, July 11th. Six investment analysts have rated the stock with a hold rating and twenty-three have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Global Payments presently has a consensus rating of Moderate Buy and an average target price of $175.03.

Global Payments Trading Down 0.5 %

Shares of Global Payments stock opened at $128.00 on Wednesday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.87 and a quick ratio of 1.06. The firm has a fifty day moving average price of $118.40 and a 200 day moving average price of $129.16. Global Payments has a 1 year low of $105.52 and a 1 year high of $179.27. The stock has a market cap of $35.48 billion, a PE ratio of 711.15, a price-to-earnings-growth ratio of 0.88 and a beta of 1.04.

Global Payments (NYSE:GPNGet Rating) last issued its earnings results on Monday, August 1st. The business services provider reported $2.36 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.34 by $0.02. Global Payments had a net margin of 0.87% and a return on equity of 9.24%. The firm had revenue of $2.28 billion during the quarter, compared to analysts’ expectations of $2.09 billion. During the same quarter last year, the company posted $1.92 earnings per share. The firm’s revenue was up 6.7% compared to the same quarter last year. Equities research analysts predict that Global Payments will post 9.09 earnings per share for the current year.

Global Payments declared that its board has approved a stock repurchase program on Monday, August 1st that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the business services provider to reacquire up to 4.2% of its stock through open market purchases. Stock buyback programs are often a sign that the company’s leadership believes its stock is undervalued.

Global Payments Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 0.78%. The ex-dividend date is Thursday, September 15th. Global Payments’s payout ratio is currently 555.59%.

Insiders Place Their Bets

In other Global Payments news, EVP David Lawrence Green sold 16,252 shares of the business’s stock in a transaction that occurred on Friday, June 3rd. The shares were sold at an average price of $130.10, for a total transaction of $2,114,385.20. Following the completion of the transaction, the executive vice president now owns 97,818 shares in the company, valued at approximately $12,726,121.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 1.19% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the stock. Calamos Advisors LLC boosted its holdings in shares of Global Payments by 15.4% in the 1st quarter. Calamos Advisors LLC now owns 93,807 shares of the business services provider’s stock valued at $12,837,000 after buying an additional 12,504 shares in the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Global Payments by 50.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,337 shares of the business services provider’s stock valued at $316,000 after buying an additional 788 shares in the last quarter. Hartford Investment Management Co. boosted its holdings in shares of Global Payments by 7.2% in the 4th quarter. Hartford Investment Management Co. now owns 29,389 shares of the business services provider’s stock valued at $3,973,000 after buying an additional 1,970 shares in the last quarter. Truist Financial Corp boosted its stake in Global Payments by 3.2% during the 1st quarter. Truist Financial Corp now owns 1,018,948 shares of the business services provider’s stock worth $139,433,000 after purchasing an additional 31,217 shares during the period. Finally, Atria Investments LLC boosted its stake in Global Payments by 58.2% during the 4th quarter. Atria Investments LLC now owns 12,817 shares of the business services provider’s stock worth $1,733,000 after purchasing an additional 4,715 shares during the period. Institutional investors and hedge funds own 84.53% of the company’s stock.

About Global Payments

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Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment 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 on-line reporting services.

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