Global Payments (GPN) Upgraded at Piper Jaffray Companies
Piper Jaffray Companies upgraded shares of Global Payments (NYSE:GPN) from a neutral rating to an overweight rating in a research note released on Friday morning, MarketBeat reports.
A number of other equities research analysts also recently weighed in on the company. Keefe, Bruyette & Woods reaffirmed a buy rating and set a $122.00 price objective on shares of Global Payments in a research report on Friday, December 22nd. Zacks Investment Research downgraded Global Payments from a buy rating to a hold rating in a research report on Tuesday, November 14th. Stephens raised Global Payments from an equal weight rating to an overweight rating and set a $122.00 price objective on the stock in a research report on Tuesday, January 9th. Credit Suisse Group reaffirmed an outperform rating and set a $108.00 price objective (up previously from $100.00) on shares of Global Payments in a research report on Thursday, November 9th. They noted that the move was a valuation call. Finally, Nomura raised their price objective on Global Payments from $83.00 to $85.00 and gave the company a reduce rating in a research report on Thursday, November 9th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and twenty-three have issued a buy rating to the stock. The stock has a consensus rating of Buy and a consensus price target of $109.40.
Global Payments (NYSE GPN) traded up $2.00 on Friday, hitting $113.45. The stock had a trading volume of 1,434,080 shares, compared to its average volume of 1,336,504. Global Payments has a fifty-two week low of $76.47 and a fifty-two week high of $115.47. The company has a quick ratio of 1.14, a current ratio of 1.13 and a debt-to-equity ratio of 1.15. The company has a market cap of $17,743.50, a P/E ratio of 38.07, a price-to-earnings-growth ratio of 1.45 and a beta of 1.09.
Global Payments announced that its board has approved a share repurchase plan on Thursday, February 15th that allows the company to repurchase $600.00 million in shares. This repurchase authorization allows the business services provider to purchase shares of its stock through open market purchases. Stock repurchase plans are typically an indication that the company’s board believes its stock is undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 30th. Shareholders of record on Friday, March 16th will be paid a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a yield of 0.04%. The ex-dividend date of this dividend is Thursday, March 15th. Global Payments’s dividend payout ratio (DPR) is presently 1.34%.
In other Global Payments news, Director William I. Jacobs sold 600 shares of the stock in a transaction dated Wednesday, December 13th. The stock was sold at an average price of $100.43, for a total value of $60,258.00. Following the completion of the sale, the director now directly owns 38,275 shares in the company, valued at $3,843,958.25. The transaction was disclosed in a document filed with the SEC, which is available at this link. Over the last quarter, insiders sold 3,600 shares of company stock valued at $378,918. 0.93% of the stock is currently owned by company insiders.
Several large investors have recently made changes to their positions in GPN. Capital International Investors raised its stake in shares of Global Payments by 39.1% in the third quarter. Capital International Investors now owns 2,678,334 shares of the business services provider’s stock worth $254,522,000 after purchasing an additional 752,962 shares during the last quarter. Guggenheim Capital LLC raised its stake in shares of Global Payments by 46.0% in the fourth quarter. Guggenheim Capital LLC now owns 807,566 shares of the business services provider’s stock worth $80,951,000 after purchasing an additional 254,315 shares during the last quarter. Atlanta Capital Management Co. L L C purchased a new position in shares of Global Payments in the third quarter worth about $23,161,000. Element Capital Management LLC purchased a new position in shares of Global Payments in the fourth quarter worth about $20,043,000. Finally, Capital Bank & Trust Co raised its stake in shares of Global Payments by 102.2% in the third quarter. Capital Bank & Trust Co now owns 393,153 shares of the business services provider’s stock worth $37,361,000 after purchasing an additional 198,713 shares during the last quarter. Hedge funds and other institutional investors own 95.74% of the company’s stock.
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Global Payments Company Profile
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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