Global Payments (GPN) Reaches New 12-Month High at $106.65
Global Payments Inc (NYSE:GPN) shares hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $106.65 and last traded at $105.80, with a volume of 804900 shares trading hands. The stock had previously closed at $104.60.
A number of research analysts have issued reports on the company. Robert W. Baird lifted their price objective on Global Payments from $106.00 to $110.00 and gave the company an “outperform” rating in a research note on Thursday, September 28th. KeyCorp assumed coverage on Global Payments in a research note on Friday, September 22nd. They set an “overweight” rating and a $110.00 price objective for the company. William Blair reiterated an “ourperform” rating on shares of Global Payments in a research note on Friday, September 22nd. Citigroup restated a “buy” rating and issued a $116.00 price target (up previously from $107.00) on shares of Global Payments in a research note on Thursday, November 9th. Finally, Stephens upgraded Global Payments from an “equal weight” rating to an “overweight” rating and set a $122.00 price target for the company in a research note on Tuesday, January 9th. Two investment analysts have rated the stock with a sell rating, five have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus target price of $107.79.
The firm has a market capitalization of $16,910.00, a PE ratio of 60.33, a P/E/G ratio of 1.62 and a beta of 1.11. The company has a debt-to-equity ratio of 1.27, a quick ratio of 1.14 and a current ratio of 1.14.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 29th. Investors of record on Friday, December 15th were given a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date was Thursday, December 14th. Global Payments’s dividend payout ratio (DPR) is presently 2.27%.
In related news, Director Alan M. Silberstein sold 600 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $100.48, for a total transaction of $60,288.00. Following the completion of the sale, the director now owns 45,493 shares in the company, valued at $4,571,136.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last quarter, insiders have sold 3,600 shares of company stock valued at $366,270. 0.93% of the stock is owned by company insiders.
A number of large investors have recently added to or reduced their stakes in the business. Oakbrook Investments LLC grew its holdings in Global Payments by 96.8% during the fourth quarter. Oakbrook Investments LLC now owns 14,170 shares of the business services provider’s stock valued at $1,420,000 after purchasing an additional 6,970 shares during the period. Westpac Banking Corp grew its holdings in Global Payments by 20.4% during the fourth quarter. Westpac Banking Corp now owns 21,228 shares of the business services provider’s stock valued at $2,128,000 after purchasing an additional 3,600 shares during the period. Schwab Charles Investment Management Inc. grew its holdings in Global Payments by 9.3% during the fourth quarter. Schwab Charles Investment Management Inc. now owns 554,013 shares of the business services provider’s stock valued at $55,535,000 after purchasing an additional 47,000 shares during the period. Bank of Montreal Can grew its holdings in Global Payments by 42.8% during the fourth quarter. Bank of Montreal Can now owns 156,231 shares of the business services provider’s stock valued at $15,661,000 after purchasing an additional 46,850 shares during the period. Finally, Atria Investments LLC grew its holdings in Global Payments by 32.4% during the fourth quarter. Atria Investments LLC now owns 4,609 shares of the business services provider’s stock valued at $462,000 after purchasing an additional 1,128 shares during the period. 98.82% of the stock is owned by institutional investors and hedge funds.
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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.
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