Wedbush Boosts Global Payments (GPN) Price Target to $144.00
Global Payments (NYSE:GPN) had its target price boosted by Wedbush from $135.00 to $144.00 in a report issued on Wednesday morning, The Fly reports. They currently have an outperform rating on the business services provider’s stock.
Other analysts also recently issued research reports about the stock. Jefferies Financial Group initiated coverage on shares of Global Payments in a report on Thursday, February 28th. They issued a buy rating and a $150.00 target price for the company. Goldman Sachs Group upgraded shares of Global Payments from a neutral rating to a buy rating and lifted their target price for the company from $122.00 to $128.00 in a report on Tuesday, January 8th. Zacks Investment Research downgraded shares of Global Payments from a hold rating to a sell rating in a report on Thursday, January 3rd. KeyCorp dropped their target price on shares of Global Payments from $135.00 to $130.00 and set an overweight rating for the company in a report on Wednesday, January 2nd. Finally, Barclays initiated coverage on shares of Global Payments in a report on Wednesday, November 14th. They issued an overweight rating and a $136.00 target price for the company. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. Global Payments currently has an average rating of Buy and a consensus target price of $134.74.
GPN stock opened at $134.12 on Wednesday. The company has a market cap of $21.14 billion, a PE ratio of 25.84, a PEG ratio of 1.30 and a beta of 1.20. The company has a debt-to-equity ratio of 1.20, a quick ratio of 1.03 and a current ratio of 1.03. Global Payments has a one year low of $94.81 and a one year high of $134.51.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 29th. Shareholders of record on Friday, March 15th will be paid a $0.01 dividend. The ex-dividend date of this dividend is Thursday, March 14th. This represents a $0.04 annualized dividend and a dividend yield of 0.03%. Global Payments’s dividend payout ratio (DPR) is 0.77%.
In other Global Payments news, Director Robert H. B. Baldwin, Jr. sold 3,000 shares of the business’s stock in a transaction on Monday, January 14th. The shares were sold at an average price of $110.82, for a total value of $332,460.00. Following the completion of the transaction, the director now owns 72,399 shares in the company, valued at $8,023,257.18. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Alan M. Silberstein sold 4,276 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was sold at an average price of $132.43, for a total transaction of $566,270.68. Following the completion of the transaction, the director now owns 51,049 shares of the company’s stock, valued at approximately $6,760,419.07. The disclosure for this sale can be found here. In the last 90 days, insiders sold 212,629 shares of company stock valued at $27,541,772. Insiders own 0.98% of the company’s stock.
Large investors have recently bought and sold shares of the business. Ranger Investment Management L.P. acquired a new position in shares of Global Payments in the fourth quarter worth $26,000. JOYN Advisors Inc. grew its stake in shares of Global Payments by 58.7% during the fourth quarter. JOYN Advisors Inc. now owns 346 shares of the business services provider’s stock worth $36,000 after purchasing an additional 128 shares in the last quarter. Bessemer Group Inc. grew its stake in shares of Global Payments by 35.7% during the fourth quarter. Bessemer Group Inc. now owns 407 shares of the business services provider’s stock worth $43,000 after purchasing an additional 107 shares in the last quarter. Private Capital Group LLC grew its stake in shares of Global Payments by 164.1% during the fourth quarter. Private Capital Group LLC now owns 544 shares of the business services provider’s stock worth $56,000 after purchasing an additional 338 shares in the last quarter. Finally, Riverview Trust Co acquired a new position in shares of Global Payments during the fourth quarter worth $67,000. Institutional investors and hedge funds own 97.84% of the company’s stock.
About Global Payments
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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