Global Payments Inc. (NYSE:GPN) Price Target Raised to $106.00 at Morgan Stanley

Global Payments Inc. (NYSE:GPN) had its price objective lifted by Morgan Stanley from $98.00 to $106.00 in a research report sent to investors on Thursday, November 2nd. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

A number of other research analysts also recently issued reports on GPN. Zacks Investment Research raised shares of Global Payments from a hold rating to a buy rating and set a $101.00 price objective for the company in a report on Thursday, July 6th. Royal Bank Of Canada reaffirmed a buy rating and issued a $90.00 price objective on shares of Global Payments in a report on Friday, July 7th. Credit Suisse Group reaffirmed an outperform rating and issued a $97.00 price objective (up previously from $91.00) on shares of Global Payments in a report on Thursday, July 13th. William Blair reaffirmed an outperform rating on shares of Global Payments in a report on Monday, July 24th. Finally, Keefe, Bruyette & Woods reissued a buy rating and set a $100.00 target price on shares of Global Payments in a research note on Thursday, August 3rd. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and twenty-three have given a buy rating to the company’s stock. The company presently has a consensus rating of Buy and a consensus price target of $105.01.

Global Payments (NYSE GPN) opened at $103.21 on Thursday. The company has a quick ratio of 1.14, a current ratio of 1.14 and a debt-to-equity ratio of 1.27. Global Payments has a 1-year low of $65.91 and a 1-year high of $104.83. The stock has a market cap of $16,086.11, a price-to-earnings ratio of 27.17, a price-to-earnings-growth ratio of 1.86 and a beta of 1.14.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, November 8th. The business services provider reported $1.15 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.03 by $0.12. The business had revenue of $1.04 billion during the quarter, compared to the consensus estimate of $917.31 million. Global Payments had a net margin of 7.14% and a return on equity of 18.50%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.89 earnings per share. sell-side analysts anticipate that Global Payments will post 3.81 EPS for the current fiscal year.

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The business also recently announced a quarterly dividend, which will be paid on Friday, December 29th. Investors of record on Friday, December 15th will be given a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date of this dividend is Thursday, December 14th. Global Payments’s dividend payout ratio (DPR) is 2.23%.

In related news, Director William I. Jacobs sold 600 shares of the stock in a transaction on Monday, November 13th. The shares were sold at an average price of $98.32, for a total transaction of $58,992.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Robert H. B. Baldwin, Jr. sold 26,000 shares of the stock in a transaction on Thursday, October 12th. The stock was sold at an average price of $99.82, for a total transaction of $2,595,320.00. The disclosure for this sale can be found here. Insiders sold a total of 37,200 shares of company stock worth $3,690,388 over the last ninety days. Insiders own 0.93% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in GPN. Janus Henderson Group PLC lifted its stake in shares of Global Payments by 11,779.8% in the 2nd quarter. Janus Henderson Group PLC now owns 2,292,798 shares of the business services provider’s stock worth $207,086,000 after acquiring an additional 2,273,498 shares during the period. JPMorgan Chase & Co. lifted its stake in shares of Global Payments by 162.0% in the second quarter. JPMorgan Chase & Co. now owns 3,284,298 shares of the business services provider’s stock valued at $296,636,000 after purchasing an additional 2,030,880 shares during the period. Capital International Investors acquired a new stake in shares of Global Payments in the second quarter valued at about $173,900,000. Capital Guardian Trust Co. acquired a new stake in shares of Global Payments in the second quarter valued at about $49,793,000. Finally, Vanguard Group Inc. lifted its stake in shares of Global Payments by 3.0% in the second quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock valued at $1,373,930,000 after purchasing an additional 448,864 shares during the period. Institutional investors own 91.13% of the company’s stock.

About Global Payments

Global Payments Inc is a provider of payment technology services. The Company provides payment and digital commerce solutions. The Company operates through three segments: North America, Europe and Asia-Pacific. The Company’s segments primarily provide payment solutions for credit cards, debit cards, electronic payments and check-related services.

Analyst Recommendations for Global Payments (NYSE:GPN)

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