Global Payments Inc (NYSE:GPN) Given Consensus Rating of “Buy” by Brokerages
Global Payments Inc (NYSE:GPN) has received a consensus rating of “Buy” from the thirty-seven research firms that are covering the company, Marketbeat.com reports. Six analysts have rated the stock with a hold rating and thirty have given a buy rating to the company. The average 12 month target price among analysts that have issued ratings on the stock in the last year is $200.42.
GPN has been the topic of several analyst reports. Royal Bank of Canada reaffirmed a “buy” rating on shares of Global Payments in a research report on Tuesday, July 21st. Sanford C. Bernstein initiated coverage on Global Payments in a research report on Tuesday, August 18th. They issued an “outperform” rating and a $201.00 price objective on the stock. Wedbush reaffirmed an “outperform” rating on shares of Global Payments in a research report on Wednesday, July 22nd. Citigroup increased their price target on Global Payments from $207.00 to $208.00 and gave the company a “buy” rating in a report on Tuesday, August 4th. Finally, Northcoast Research reissued a “neutral” rating on shares of Global Payments in a report on Tuesday, August 4th.
GPN stock traded down $2.17 during midday trading on Friday, hitting $179.31. The company’s stock had a trading volume of 88,641 shares, compared to its average volume of 2,123,104. The company has a market cap of $54.31 billion, a PE ratio of 121.72, a P/E/G ratio of 1.36 and a beta of 1.10. Global Payments has a 12 month low of $105.54 and a 12 month high of $209.62. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.31. The firm’s 50-day moving average is $173.18 and its 200-day moving average is $167.52.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 24th. Shareholders of record on Thursday, September 10th will be paid a $0.195 dividend. The ex-dividend date of this dividend is Wednesday, September 9th. This represents a $0.78 annualized dividend and a yield of 0.44%. Global Payments’s payout ratio is 13.31%.
In other Global Payments news, Director William I. Jacobs sold 7,224 shares of the company’s stock in a transaction that occurred on Friday, September 4th. The stock was sold at an average price of $174.90, for a total value of $1,263,477.60. Following the completion of the transaction, the director now directly owns 32,117 shares in the company, valued at approximately $5,617,263.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William I. Jacobs sold 500 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The stock was sold at an average price of $171.46, for a total value of $85,730.00. Following the completion of the transaction, the director now owns 24,393 shares of the company’s stock, valued at $4,182,423.78. The disclosure for this sale can be found here. Insiders sold a total of 8,224 shares of company stock valued at $1,432,333 over the last 90 days. 0.88% of the stock is currently owned by corporate insiders.
Hedge funds have recently bought and sold shares of the business. CX Institutional raised its holdings in shares of Global Payments by 98.8% during the 2nd quarter. CX Institutional now owns 169 shares of the business services provider’s stock worth $29,000 after acquiring an additional 84 shares in the last quarter. Campbell Wealth Management purchased a new stake in shares of Global Payments during the 2nd quarter worth approximately $30,000. Costello Asset Management INC purchased a new stake in shares of Global Payments during the 2nd quarter worth approximately $44,000. Maverick Capital Ltd. purchased a new stake in shares of Global Payments during the 1st quarter worth approximately $38,000. Finally, Virtus Alternative Investment Advisers Inc. purchased a new stake in shares of Global Payments during the 2nd quarter worth approximately $45,000. Institutional investors and hedge funds own 86.81% 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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