Global Payments (NYSE:GPN) Given a $190.00 Price Target at SunTrust Banks

SunTrust Banks set a $190.00 price objective on Global Payments (NYSE:GPN) in a report published on Wednesday, TipRanks reports. The firm currently has a buy rating on the business services provider’s stock.

Other analysts also recently issued reports about the company. Piper Jaffray Companies set a $195.00 target price on Global Payments and gave the company an overweight rating in a research report on Wednesday. Deutsche Bank upped their target price on Global Payments from $162.00 to $182.00 and gave the company a buy rating in a research report on Friday, July 26th. JPMorgan Chase & Co. upped their target price on Global Payments from $140.00 to $151.00 and gave the company an overweight rating in a research report on Monday, May 6th. Zacks Investment Research upgraded Global Payments from a sell rating to a hold rating and set a $163.00 target price for the company in a research report on Tuesday, May 7th. Finally, Nomura upped their target price on Global Payments from $94.00 to $105.00 and gave the company a reduce rating in a research report on Friday, May 10th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and twenty have assigned a buy rating to the company. Global Payments presently has a consensus rating of Buy and an average price target of $160.35.

GPN traded down $3.42 during trading on Wednesday, hitting $161.48. The stock had a trading volume of 1,304,449 shares, compared to its average volume of 1,325,405. The stock has a 50 day simple moving average of $163.10. The company has a market capitalization of $26.31 billion, a price-to-earnings ratio of 31.11, a price-to-earnings-growth ratio of 1.72 and a beta of 1.03. The company has a current ratio of 1.01, a quick ratio of 1.03 and a debt-to-equity ratio of 1.20. Global Payments has a one year low of $94.81 and a one year high of $172.20.

Global Payments (NYSE:GPN) last released its earnings results on Tuesday, July 30th. The business services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.46 by $0.05. The firm had revenue of $1.11 billion during the quarter, compared to the consensus estimate of $1.11 billion. Global Payments had a return on equity of 18.11% and a net margin of 13.62%. The company’s revenue was up 13.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.29 EPS. As a group, sell-side analysts expect that Global Payments will post 5.81 EPS for the current fiscal year.

The company 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 $0.01 dividend. The ex-dividend date of this dividend is Thursday, September 12th. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. Global Payments’s payout ratio is presently 0.77%.

In other Global Payments news, Director William I. Jacobs sold 600 shares of the company’s stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $165.05, for a total value of $99,030.00. Following the completion of the transaction, the director now owns 30,188 shares of the company’s stock, valued at approximately $4,982,529.40. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of the company’s stock in a transaction dated Tuesday, May 14th. The stock was sold at an average price of $146.36, for a total value of $622,030.00. Following the completion of the transaction, the director now directly owns 48,382 shares of the company’s stock, valued at approximately $7,081,189.52. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,550 shares of company stock valued at $831,625. Insiders own 0.88% of the company’s stock.

A number of institutional investors and hedge funds have recently modified their holdings of the business. Signaturefd LLC increased its stake in shares of Global Payments by 7.7% in the first quarter. Signaturefd LLC now owns 1,198 shares of the business services provider’s stock valued at $164,000 after buying an additional 86 shares during the period. Conning Inc. increased its stake in shares of Global Payments by 3.7% in the first quarter. Conning Inc. now owns 2,510 shares of the business services provider’s stock valued at $343,000 after buying an additional 90 shares during the period. Advisor Partners LLC increased its stake in shares of Global Payments by 2.8% in the second quarter. Advisor Partners LLC now owns 3,576 shares of the business services provider’s stock valued at $573,000 after buying an additional 99 shares during the period. Northwestern Mutual Investment Management Company LLC increased its stake in shares of Global Payments by 0.4% in the first quarter. Northwestern Mutual Investment Management Company LLC now owns 23,948 shares of the business services provider’s stock valued at $3,269,000 after buying an additional 105 shares during the period. Finally, Cornerstone Advisors Inc. increased its stake in shares of Global Payments by 114.9% in the first quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock valued at $28,000 after buying an additional 108 shares during the period. 97.97% of the stock is owned by institutional investors and hedge funds.

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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