Global Payments (NYSE:GPN) Price Target Raised to $229.00

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Global Payments (NYSE:GPN) had its target price hoisted by Raymond James from $210.00 to $229.00 in a research report sent to investors on Tuesday morning, BenzingaRatingsTable reports. They currently have an outperform rating on the business services provider’s stock.

GPN has been the topic of several other research reports. William Blair restated an outperform rating on shares of Global Payments in a research report on Thursday, October 17th. Jefferies Financial Group boosted their price target on shares of Global Payments from $195.00 to $235.00 and gave the stock a buy rating in a research report on Wednesday, January 22nd. ValuEngine upgraded shares of Global Payments from a sell rating to a hold rating in a research report on Wednesday, January 15th. Wedbush boosted their price target on shares of Global Payments from $185.00 to $218.00 and gave the stock an outperform rating in a research report on Monday, January 13th. Finally, Deutsche Bank boosted their price target on shares of Global Payments from $182.00 to $230.00 and gave the stock a buy rating in a research report on Monday, January 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-five have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $205.53.

Shares of GPN stock traded up $3.64 during mid-day trading on Tuesday, hitting $206.37. The company had a trading volume of 1,795,677 shares, compared to its average volume of 1,525,887. Global Payments has a 52-week low of $120.20 and a 52-week high of $206.18. The stock’s 50 day moving average price is $194.12 and its 200-day moving average price is $174.32. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.17 and a quick ratio of 1.17. The company has a market capitalization of $61.50 billion, a P/E ratio of 82.88, a P/E/G ratio of 1.56 and a beta of 1.00.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, February 12th. The business services provider reported $1.62 EPS for the quarter, topping the consensus estimate of $1.51 by $0.11. Global Payments had a net margin of 10.59% and a return on equity of 9.05%. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $2.06 billion. During the same quarter in the previous year, the firm earned $1.33 earnings per share. The company’s quarterly revenue was up 125.7% compared to the same quarter last year. On average, equities research analysts expect that Global Payments will post 5.83 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 27th. Shareholders of record on Friday, March 13th will be given a dividend of $0.195 per share. This is a boost from Global Payments’s previous quarterly dividend of $0.01. The ex-dividend date is Thursday, March 12th. This represents a $0.78 dividend on an annualized basis and a yield of 0.38%. Global Payments’s payout ratio is 15.03%.

In other Global Payments news, Director William I. Jacobs sold 600 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $179.70, for a total transaction of $107,820.00. Following the transaction, the director now owns 27,188 shares in the company, valued at $4,885,683.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joia M. Johnson acquired 560 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were purchased at an average price of $178.45 per share, for a total transaction of $99,932.00. Following the transaction, the director now directly owns 2,347 shares of the company’s stock, valued at $418,822.15. The disclosure for this purchase can be found here. Insiders own 0.88% of the company’s stock.

A number of hedge funds have recently bought and sold shares of the business. Samlyn Capital LLC increased its position in Global Payments by 27.7% during the fourth quarter. Samlyn Capital LLC now owns 723,837 shares of the business services provider’s stock valued at $132,145,000 after acquiring an additional 157,198 shares during the last quarter. UBS Asset Management Americas Inc. grew its holdings in shares of Global Payments by 2.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 3,092,036 shares of the business services provider’s stock worth $564,482,000 after purchasing an additional 70,610 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Global Payments by 399.8% in the fourth quarter. Marshall Wace LLP now owns 62,865 shares of the business services provider’s stock worth $11,476,000 after purchasing an additional 50,287 shares during the last quarter. Loomis Sayles & Co. L P grew its holdings in shares of Global Payments by 180.7% in the fourth quarter. Loomis Sayles & Co. L P now owns 1,050 shares of the business services provider’s stock worth $191,000 after purchasing an additional 676 shares during the last quarter. Finally, Marshall Wace North America L.P. grew its holdings in shares of Global Payments by 49.5% in the fourth quarter. Marshall Wace North America L.P. now owns 1,368,928 shares of the business services provider’s stock worth $249,911,000 after purchasing an additional 453,145 shares during the last quarter. Institutional investors and hedge funds own 87.83% of the company’s stock.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. 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, and online reporting services.

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Analyst Recommendations for Global Payments (NYSE:GPN)

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