Global Payments Inc. (NYSE:GPN) had its target price hoisted by J P Morgan Chase & Co from $106.00 to $107.00 in a research note issued to investors on Tuesday morning. They currently have an overweight rating on the business services provider’s stock.

Several other equities research analysts have also recently commented on GPN. Bank of America Corporation initiated coverage on Global Payments in a research note on Tuesday. They set a buy rating and a $110.00 price target for the company. Cowen and Company reiterated a buy rating and issued a $102.00 price objective on shares of Global Payments in a research report on Friday, September 8th. Barclays PLC increased their price objective on Global Payments from $98.00 to $105.00 and gave the stock an overweight rating in a research report on Friday, August 4th. Stifel Nicolaus reiterated a buy rating and issued a $103.00 price objective (up previously from $102.00) on shares of Global Payments in a research report on Friday, August 4th. Finally, Keefe, Bruyette & Woods reiterated a buy rating and issued a $100.00 price objective on shares of Global Payments in a research report on Thursday, August 3rd. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twenty have given a buy rating to the company’s stock. The stock has an average rating of Buy and an average price target of $97.75.

Global Payments (NYSE GPN) opened at 97.56 on Tuesday. The stock has a market capitalization of $14.88 billion, a price-to-earnings ratio of 75.69 and a beta of 1.11. The stock’s 50 day moving average is $95.24 and its 200 day moving average is $88.12. Global Payments has a 12-month low of $64.63 and a 12-month high of $98.14.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, August 3rd. The business services provider reported $0.94 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.87 by $0.07. Global Payments had a return on equity of 18.32% and a net margin of 6.65%. The business had revenue of $847.90 million during the quarter, compared to analysts’ expectations of $837.76 million. During the same quarter in the prior year, the business earned $0.76 earnings per share. The company’s quarterly revenue was up 18.4% compared to the same quarter last year. Equities research analysts forecast that Global Payments will post $3.95 EPS for the current fiscal year.

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The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 29th. Investors of record on Friday, September 15th will be paid a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.04%. The ex-dividend date is Thursday, September 14th. Global Payments’s payout ratio is currently 3.07%.

In related news, insider David E. Mangum sold 75,794 shares of the stock in a transaction on Thursday, August 10th. The stock was sold at an average price of $94.51, for a total transaction of $7,163,290.94. Following the sale, the insider now owns 112,930 shares of the company’s stock, valued at $10,673,014.30. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Robert H. B. Baldwin, Jr. sold 8,200 shares of the stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $97.61, for a total value of $800,402.00. Following the sale, the director now directly owns 172,497 shares in the company, valued at approximately $16,837,432.17. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 141,749 shares of company stock worth $13,416,603. Corporate insiders own 0.93% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in shares of Global Payments by 0.8% during the first quarter. Wellington Management Group LLP now owns 16,940,401 shares of the business services provider’s stock valued at $1,366,752,000 after acquiring an additional 126,712 shares during the last quarter. Vanguard Group Inc. boosted its stake in Global Payments by 3.0% in the 2nd quarter. Vanguard Group Inc. now owns 15,211,802 shares of the business services provider’s stock worth $1,373,930,000 after buying an additional 448,864 shares during the last quarter. FMR LLC boosted its stake in Global Payments by 12.4% in the 1st quarter. FMR LLC now owns 14,898,661 shares of the business services provider’s stock worth $1,202,023,000 after buying an additional 1,647,907 shares during the last quarter. BlackRock Inc. boosted its stake in Global Payments by 3,093.1% in the 1st quarter. BlackRock Inc. now owns 13,529,075 shares of the business services provider’s stock worth $1,091,527,000 after buying an additional 13,105,378 shares during the last quarter. Finally, State Street Corp boosted its stake in Global Payments by 1.1% in the 1st quarter. State Street Corp now owns 5,989,099 shares of the business services provider’s stock worth $483,201,000 after buying an additional 63,278 shares during the last quarter. 97.87% of the stock is currently owned by institutional investors and hedge funds.

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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