Susquehanna Reaffirms Positive Rating for Global Payments (NYSE:GPN)

Susquehanna restated their positive rating on shares of Global Payments (NYSE:GPN) in a report released on Tuesday, Benzinga reports. They currently have a $147.00 price target on the business services provider’s stock.

A number of other research analysts have also weighed in on the stock. Evercore ISI decreased their target price on shares of Global Payments from $170.00 to $160.00 and set an outperform rating on the stock in a research note on Tuesday, June 25th. BMO Capital Markets boosted their price objective on Global Payments from $124.00 to $126.00 and gave the stock a market perform rating in a research note on Thursday, August 8th. StockNews.com downgraded Global Payments from a buy rating to a hold rating in a research note on Monday, June 10th. Keefe, Bruyette & Woods lowered their price target on shares of Global Payments from $150.00 to $140.00 and set an outperform rating on the stock in a research report on Monday, July 8th. Finally, Stephens dropped their price objective on shares of Global Payments from $145.00 to $130.00 and set an overweight rating for the company in a report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, Global Payments has an average rating of Moderate Buy and a consensus price target of $142.59.

Global Payments Stock Performance

Shares of NYSE:GPN opened at $110.69 on Tuesday. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92. Global Payments has a 1 year low of $91.60 and a 1 year high of $141.77. The firm has a market capitalization of $28.25 billion, a PE ratio of 21.96, a P/E/G ratio of 0.70 and a beta of 0.98. The business’s 50 day moving average price is $105.52 and its 200-day moving average price is $110.26.

Global Payments (NYSE:GPN) last released its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. The business had revenue of $2.57 billion during the quarter, compared to analyst estimates of $2.32 billion. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.48 earnings per share. As a group, equities research analysts expect that Global Payments will post 11.07 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

Insider Buying and Selling at Global Payments

In other news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the sale, the chief accounting officer now directly owns 20,531 shares in the company, valued at $2,068,087.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 0.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Payments

A number of hedge funds have recently bought and sold shares of the stock. Lake Street Advisors Group LLC purchased a new stake in shares of Global Payments during the fourth quarter worth approximately $210,000. Cibc World Markets Corp increased its position in shares of Global Payments by 29.1% in the 4th quarter. Cibc World Markets Corp now owns 82,672 shares of the business services provider’s stock valued at $10,499,000 after purchasing an additional 18,615 shares during the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of Global Payments by 12.3% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 267,483 shares of the business services provider’s stock valued at $35,775,000 after purchasing an additional 29,289 shares in the last quarter. LRI Investments LLC acquired a new stake in shares of Global Payments in the 1st quarter valued at $32,000. Finally, State Board of Administration of Florida Retirement System lifted its position in shares of Global Payments by 8.8% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 302,364 shares of the business services provider’s stock worth $40,414,000 after purchasing an additional 24,415 shares during the last quarter. Institutional investors and hedge funds own 89.76% of the company’s stock.

About Global Payments

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.