Global Payments Inc (GPN) Receives $112.76 Consensus Target Price from Analysts

Global Payments Inc (NYSE:GPN) has been given an average recommendation of “Buy” by the twenty-eight analysts that are currently covering the firm, MarketBeat reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and twenty-one have assigned a buy recommendation to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $112.76.

Several research firms have recently weighed in on GPN. Zacks Investment Research downgraded shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Tuesday, April 17th. Cowen reissued a “buy” rating and set a $127.00 price objective on shares of Global Payments in a report on Thursday, March 1st. SunTrust Banks reissued a “buy” rating and set a $130.00 price objective on shares of Global Payments in a report on Friday, February 16th. Citigroup lifted their price objective on shares of Global Payments from $122.00 to $125.00 and gave the company a “buy” rating in a report on Friday, February 16th. Finally, Barclays lifted their price objective on shares of Global Payments to $128.00 and gave the company an “overweight” rating in a report on Thursday, February 15th. They noted that the move was a valuation call.

In other Global Payments news, Director Alan M. Silberstein sold 600 shares of Global Payments stock in a transaction on Friday, May 18th. The shares were sold at an average price of $114.00, for a total value of $68,400.00. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Alan M. Silberstein sold 5,300 shares of the business’s stock in a transaction on Friday, March 16th. The shares were sold at an average price of $118.20, for a total transaction of $626,460.00. Following the sale, the director now directly owns 46,497 shares in the company, valued at $5,495,945.40. The disclosure for this sale can be found here. Insiders sold 22,048 shares of company stock worth $2,563,468 over the last ninety days. Corporate insiders own 0.98% of the company’s stock.

Institutional investors and hedge funds have recently made changes to their positions in the company. Norinchukin Bank The grew its holdings in shares of Global Payments by 12.1% during the fourth quarter. Norinchukin Bank The now owns 12,723 shares of the business services provider’s stock valued at $1,275,000 after buying an additional 1,373 shares during the last quarter. Public Employees Retirement Association of Colorado raised its holdings in shares of Global Payments by 3.3% in the 4th quarter. Public Employees Retirement Association of Colorado now owns 30,607 shares of the business services provider’s stock valued at $3,068,000 after purchasing an additional 968 shares in the last quarter. Toronto Dominion Bank raised its holdings in shares of Global Payments by 17.8% in the 4th quarter. Toronto Dominion Bank now owns 68,158 shares of the business services provider’s stock valued at $6,832,000 after purchasing an additional 10,316 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. raised its holdings in shares of Global Payments by 32.6% in the 4th quarter. Ladenburg Thalmann Financial Services Inc. now owns 3,494 shares of the business services provider’s stock valued at $350,000 after purchasing an additional 859 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Global Payments by 16.7% in the 4th quarter. Envestnet Asset Management Inc. now owns 26,499 shares of the business services provider’s stock valued at $2,657,000 after purchasing an additional 3,792 shares in the last quarter. 96.28% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Global Payments traded up $0.48, reaching $118.96, during trading on Monday, MarketBeat reports. The company’s stock had a trading volume of 9,424 shares, compared to its average volume of 1,052,408. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 1.01. Global Payments has a 12 month low of $87.86 and a 12 month high of $119.65. The company has a market cap of $18.64 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 1.40 and a beta of 1.11.

Global Payments (NYSE:GPN) last announced its quarterly earnings results on Thursday, May 3rd. The business services provider reported $1.13 EPS for the quarter, beating the Zacks’ consensus estimate of $1.10 by $0.03. Global Payments had a net margin of 13.27% and a return on equity of 17.66%. The firm had revenue of $924.30 million during the quarter, compared to the consensus estimate of $914.06 million. During the same quarter last year, the firm earned $0.85 EPS. The firm’s revenue for the quarter was up 17.3% compared to the same quarter last year. equities analysts forecast that Global Payments will post 4.87 EPS for the current year.

Global Payments declared that its board has initiated a stock buyback program on Thursday, February 15th that permits the company to repurchase $600.00 million in outstanding shares. This repurchase authorization permits the business services provider to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s management believes its shares are undervalued.

The company also recently declared a quarterly dividend, which will be paid on Friday, June 29th. Shareholders of record on Friday, June 15th will be issued a $0.01 dividend. This represents a $0.04 annualized dividend and a yield of 0.03%. The ex-dividend date of this dividend is Thursday, June 14th. Global Payments’s dividend payout ratio is currently 1.00%.

About Global Payments

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.

Analyst Recommendations for Global Payments (NYSE:GPN)

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