Global Payments (NYSE:GPN) Given New $120.00 Price Target at Barclays

by · The Markets Daily

Global Payments (NYSE:GPN – Free Report) had its target price reduced by Barclays from $145.00 to $120.00 in a report issued on Monday, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Several other equities research analysts also recently commented on the company. Monness Crespi & Hardt reduced their price objective on Global Payments from $165.00 to $155.00 and set a buy rating for the company in a report on Wednesday, September 25th. Keefe, Bruyette & Woods reduced their price objective on Global Payments from $150.00 to $140.00 and set an outperform rating for the company in a report on Monday, July 8th. Stephens reiterated an overweight rating and issued a $130.00 price objective on shares of Global Payments in a report on Wednesday, September 18th. Seaport Res Ptn downgraded Global Payments from a strong-buy rating to a hold rating in a report on Tuesday, September 24th. Finally, TD Cowen reduced their price objective on Global Payments from $125.00 to $122.00 and set a buy rating for the company in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat.com, Global Payments currently has an average rating of Moderate Buy and an average target price of $140.23.

Get Our Latest Analysis on GPN

Global Payments Price Performance

GPN opened at $98.19 on Monday. The stock has a 50-day moving average price of $105.60 and a 200-day moving average price of $108.42. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. The firm has a market cap of $25.06 billion, a PE ratio of 19.48, a P/E/G ratio of 0.71 and a beta of 0.98. Global Payments has a 1 year low of $91.60 and a 1 year high of $141.77.

Global Payments (NYSE:GPN – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.03. The firm had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. Global Payments’s quarterly revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.48 EPS. Sell-side analysts predict that Global Payments will post 11.07 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. Global Payments’s payout ratio is currently 19.84%.

Insider Activity

In other news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.73, for a total transaction of $166,305.23. Following the transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Czech National Bank lifted its holdings in Global Payments by 6.6% in the 3rd quarter. Czech National Bank now owns 51,831 shares of the business services provider’s stock worth $5,309,000 after purchasing an additional 3,190 shares in the last quarter. Mattson Financial Services LLC purchased a new position in Global Payments in the 2nd quarter worth approximately $1,855,000. Sanctuary Advisors LLC purchased a new position in Global Payments in the 2nd quarter worth approximately $900,000. Brown Financial Advisors purchased a new position in Global Payments in the 2nd quarter worth approximately $1,128,000. Finally, Heritage Oak Wealth Advisors LLC purchased a new position in Global Payments in the 2nd quarter worth approximately $333,000. 89.76% of the stock is owned by hedge funds and other institutional investors.

About Global Payments

(Get Free Report)

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through two segments, Merchant Solutions and Issuer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.

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