Global Payments (NYSE:GPN – Get Rating) had its price target decreased by Wells Fargo & Company from $156.00 to $150.00 in a research report report published on Thursday, Marketbeat reports. Wells Fargo & Company currently has an overweight rating on the business services provider’s stock.
Other analysts have also recently issued reports about the company. Keefe, Bruyette & Woods cut their price objective on Global Payments from $175.00 to $155.00 in a research report on Monday, July 11th. Credit Suisse Group cut Global Payments from an outperform rating to a neutral rating and cut their price objective for the company from $180.00 to $145.00 in a research report on Wednesday, August 3rd. BMO Capital Markets lifted their price objective on Global Payments from $217.00 to $232.00 in a research report on Wednesday, August 3rd. Robert W. Baird reaffirmed an outperform rating and set a $156.00 price objective on shares of Global Payments in a research report on Tuesday, August 30th. Finally, Morgan Stanley lifted their price objective on Global Payments from $123.00 to $141.00 and gave the company an equal weight rating in a research report on Tuesday, August 2nd. Six investment analysts have rated the stock with a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Global Payments has an average rating of Moderate Buy and an average target price of $173.36.
Global Payments Stock Up 0.7 %
NYSE GPN opened at $132.63 on Thursday. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.87 and a quick ratio of 0.87. The stock has a market capitalization of $36.76 billion, a PE ratio of 736.87, a PEG ratio of 0.90 and a beta of 1.02. Global Payments has a 1 year low of $105.52 and a 1 year high of $173.89. The business’s 50-day moving average is $124.08 and its 200 day moving average is $126.67.
Global Payments Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a dividend of $0.25 per share. The ex-dividend date is Thursday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.75%. Global Payments’s dividend payout ratio is presently 555.59%.
Global Payments announced that its Board of Directors has authorized a share repurchase plan on Monday, August 1st that authorizes the company to buyback $1.50 billion in shares. This buyback authorization authorizes the business services provider to purchase up to 4.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s management believes its shares are undervalued.
Insider Buying and Selling at Global Payments
In other Global Payments news, CAO David M. Sheffield sold 3,500 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $133.20, for a total transaction of $466,200.00. Following the completion of the sale, the chief accounting officer now directly owns 28,737 shares in the company, valued at approximately $3,827,768.40. The sale was disclosed in a document filed with the SEC, which is available through this link. Company insiders own 1.19% of the company’s stock.
Institutional Investors Weigh In On Global Payments
Hedge funds and other institutional investors have recently modified their holdings of the stock. MUFG Americas Holdings Corp purchased a new stake in shares of Global Payments in the 1st quarter worth $25,000. Bell Investment Advisors Inc increased its stake in shares of Global Payments by 128.6% in the 4th quarter. Bell Investment Advisors Inc now owns 192 shares of the business services provider’s stock worth $26,000 after purchasing an additional 108 shares in the last quarter. MCF Advisors LLC purchased a new stake in shares of Global Payments in the 1st quarter worth $27,000. Hazlett Burt & Watson Inc. purchased a new stake in shares of Global Payments in the 1st quarter worth $27,000. Finally, Western Pacific Wealth Management LP purchased a new stake in shares of Global Payments in the 4th quarter worth $29,000. 85.61% of the stock is currently owned by hedge funds and other institutional investors.
Global Payments Company Profile
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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