Global Payments (NYSE:GPN) Given New $132.00 Price Target at Mizuho

Global Payments (NYSE:GPNGet Rating) had its target price trimmed by Mizuho from $148.00 to $132.00 in a research note published on Wednesday morning, Benzinga reports. The firm currently has a neutral rating on the business services provider’s stock.

Several other equities analysts also recently commented on the company. Robert W. Baird decreased their target price on Global Payments from $192.00 to $144.00 and set an outperform rating on the stock in a research report on Friday, July 1st. Oppenheimer decreased their target price on Global Payments from $152.00 to $144.00 and set an outperform rating on the stock in a research report on Tuesday. Credit Suisse Group downgraded Global Payments from an outperform rating to a neutral rating and decreased their target price for the company from $180.00 to $145.00 in a research report on Wednesday. Stephens initiated coverage on Global Payments in a research report on Wednesday, April 6th. They set an overweight rating and a $170.00 price target on the stock. Finally, Truist Financial reduced their price target on Global Payments from $175.00 to $150.00 and set a buy rating on the stock in a research report on Thursday, June 30th. Six analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the company’s stock. According to data from MarketBeat, Global Payments currently has a consensus rating of Moderate Buy and a consensus target price of $175.03.

Global Payments Price Performance

NYSE:GPN opened at $128.00 on Wednesday. The company has a quick ratio of 1.06, a current ratio of 0.87 and a debt-to-equity ratio of 0.45. The stock’s 50 day moving average price is $118.40 and its two-hundred day moving average price is $129.16. The firm has a market capitalization of $35.48 billion, a price-to-earnings ratio of 711.15, a P/E/G ratio of 0.88 and a beta of 1.04. Global Payments has a 12-month low of $105.52 and a 12-month high of $179.27.

Global Payments (NYSE:GPNGet Rating) last posted its earnings results on Monday, August 1st. The business services provider reported $2.36 EPS for the quarter, beating the consensus estimate of $2.34 by $0.02. Global Payments had a return on equity of 9.24% and a net margin of 0.87%. The company had revenue of $2.28 billion for the quarter, compared to the consensus estimate of $2.09 billion. During the same quarter in the prior year, the business earned $1.92 earnings per share. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. On average, analysts anticipate that Global Payments will post 9.09 earnings per share for the current year.

Global Payments declared that its Board of Directors has approved a stock buyback program on Monday, August 1st that authorizes the company to buyback $1.50 billion in outstanding shares. This buyback authorization authorizes the business services provider to repurchase up to 4.2% of its shares through open market purchases. Shares buyback programs are generally a sign that the company’s management believes its shares are undervalued.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 30th. Investors of record on Friday, September 16th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.78%. Global Payments’s payout ratio is 555.59%.

Insider Buying and Selling at Global Payments

In other news, EVP David Lawrence Green sold 16,252 shares of the firm’s stock in a transaction dated Friday, June 3rd. The stock was sold at an average price of $130.10, for a total transaction of $2,114,385.20. Following the completion of the transaction, the executive vice president now directly owns 97,818 shares in the company, valued at $12,726,121.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 1.19% of the company’s stock.

Hedge Funds Weigh In On Global Payments

Hedge funds have recently bought and sold shares of the company. MUFG Americas Holdings Corp bought a new position in Global Payments during the first quarter worth $25,000. Bell Investment Advisors Inc raised its stake in Global Payments by 128.6% during the fourth quarter. Bell Investment Advisors Inc now owns 192 shares of the business services provider’s stock worth $26,000 after buying an additional 108 shares during the last quarter. MCF Advisors LLC bought a new position in Global Payments during the first quarter worth $27,000. Hazlett Burt & Watson Inc. bought a new position in Global Payments during the first quarter worth $27,000. Finally, Western Pacific Wealth Management LP bought a new position in Global Payments during the fourth quarter worth $29,000. Institutional investors own 84.53% of the company’s stock.

About Global Payments

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Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment 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 on-line reporting services.

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