Piper Jaffray Companies set a $195.00 price target on Global Payments (NYSE:GPN) in a research report sent to investors on Wednesday, The Fly reports. The brokerage currently has an overweight rating on the business services provider’s stock.
GPN has been the topic of several other research reports. Robert W. Baird lifted their target price on Global Payments from $174.00 to $182.00 and gave the company an outperform rating in a research note on Tuesday, July 9th. Deutsche Bank lifted their target price on Global Payments from $162.00 to $182.00 and gave the company a buy rating in a research note on Friday, July 26th. SunTrust Banks lifted their price objective on Global Payments to $175.00 and gave the stock a positive rating in a research note on Friday, May 3rd. BMO Capital Markets downgraded Global Payments from an outperform rating to a market perform rating and lifted their price objective for the stock from $164.00 to $173.00 in a research note on Wednesday, May 29th. Finally, Nomura lifted their price objective on Global Payments from $94.00 to $105.00 and gave the stock a reduce rating in a research note on Friday, May 10th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have assigned a buy rating to the stock. The company presently has an average rating of Buy and an average price target of $162.15.
GPN traded down $3.42 on Wednesday, hitting $161.48. 1,421,695 shares of the company’s stock traded hands, compared to its average volume of 1,360,322. The firm 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 1.73 and a beta of 1.01. Global Payments has a one year low of $94.81 and a one year high of $172.20. The company has a current ratio of 1.01, a quick ratio of 1.03 and a debt-to-equity ratio of 1.20.
The business also recently announced a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Friday, September 13th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.02%. The ex-dividend date is Thursday, September 12th. Global Payments’s dividend payout ratio (DPR) is 0.77%.
In other news, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of Global Payments stock in a transaction that occurred on 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 owns 48,382 shares in the company, valued at approximately $7,081,189.52. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction that occurred on 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 disclosure for this sale can be found here. In the last quarter, insiders sold 5,550 shares of company stock valued at $831,625. Company insiders own 0.88% of the company’s stock.
Several institutional investors have recently made changes to their positions in the company. John G Ullman & Associates Inc. purchased a new position in Global Payments during the 2nd quarter valued at $224,000. Icon Advisers Inc. Co. purchased a new position in Global Payments during the 2nd quarter valued at $3,074,000. Next Capital Management LLC purchased a new position in Global Payments during the 2nd quarter valued at $25,000. Columbus Circle Investors purchased a new position in Global Payments during the 2nd quarter valued at $11,387,000. Finally, Envestnet Asset Management Inc. boosted its holdings in Global Payments by 8.3% during the 2nd quarter. Envestnet Asset Management Inc. now owns 116,671 shares of the business services provider’s stock valued at $18,683,000 after acquiring an additional 8,957 shares during the period. Hedge funds and other institutional investors own 97.97% of the company’s stock.
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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