Global Payments (NYSE:GPN) Price Target Raised to $100.00

Global Payments (NYSE:GPN) had its price target raised by Sanford C. Bernstein from $86.00 to $100.00 in a report released on Wednesday,Benzinga reports. They currently have a market perform rating on the business services provider’s stock.

GPN has been the topic of several other reports. HC Wainwright initiated coverage on Global Payments in a report on Thursday, August 6th. They issued a “buy” rating on the stock. William Blair reaffirmed a “market perform” rating on shares of Global Payments in a research report on Friday, October 30th. Bank of America reaffirmed a “buy” rating on shares of Global Payments in a research note on Friday, November 6th. Truist Financial decreased their price target on shares of Global Payments from $95.00 to $86.00 and set a “hold” rating for the company in a research note on Friday, October 23rd. Finally, Cantor Fitzgerald lifted their price objective on Global Payments from $91.00 to $103.00 and gave the company a “neutral” rating in a report on Monday, November 9th. Thirteen analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have given a Sell rating to the company. According to data from MarketBeat.com, Global Payments presently has an average rating of “Hold” and an average target price of $98.76.

Global Payments Price Performance

NYSE GPN opened at $92.04 on Wednesday. The business’s fifty day moving average is $87.16 and its 200 day moving average is $78.07. The company has a market capitalization of $24.36 billion, a PE ratio of -20.18, a price-to-earnings-growth ratio of 0.43 and a beta of 0.83. Global Payments has a fifty-two week low of $61.16 and a fifty-two week high of $102.90. The company has a debt-to-equity ratio of 0.89, a quick ratio of 0.82 and a current ratio of 0.82.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Thursday, November 5th. The business services provider reported $3.58 EPS for the quarter, meeting analysts’ consensus estimates of $3.58. The business had revenue of $3.18 billion for the quarter, compared to analysts’ expectations of $3.18 billion. Global Payments had a positive return on equity of 14.43% and a negative net margin of 11.21%. The business’s quarterly revenue was up 36.1% on a year-over-year basis. During the same period last year, the firm earned $3.26 earnings per share. Sell-side analysts predict that Global Payments will post 13.66 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Thursday, December 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Global Payments’s payout ratio is presently -21.93%.

Institutional Trading of Global Payments

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GPN. Western Wealth Management LLC purchased a new position in Global Payments in the 1st quarter valued at $34,000. Meeder Asset Management Inc. lifted its stake in shares of Global Payments by 516.9% during the third quarter. Meeder Asset Management Inc. now owns 438 shares of the business services provider’s stock valued at $36,000 after buying an additional 367 shares during the period. Nvwm LLC acquired a new stake in shares of Global Payments during the third quarter worth $41,000. Jacobi Capital Management LLC acquired a new stake in Global Payments in the 3rd quarter worth about $47,000. Finally, Geneos Wealth Management Inc. grew its holdings in Global Payments by 48.5% in the 1st quarter. Geneos Wealth Management Inc. now owns 765 shares of the business services provider’s stock valued at $51,000 after buying an additional 250 shares during the period. Institutional investors and hedge funds own 89.76% of the company’s stock.

Top Global Payments Stories

These are some of the GPN stories that stood out recently:

• Positive Sentiment: After reports that private-equity firms Clayton, Dubilier & Rice and GTCR had dropped their pursuit, GPN fell sharply on Thursday. Friday’s rebound suggests some investors may be buying after the decline. A technical analysis article identifies roughly $81 as a possible support level, though that is not a guarantee of a reversal. Stock of the Day: Where is the Bottom for Global Payments?
• Neutral Sentiment: Sanford C. Bernstein raised its price target for GPN but maintained a Hold rating, offering a more favorable valuation view without signaling a bullish change in its recommendation. Global Payments Stock Gets Price Target Increase from Sanford C. Bernstein
• Negative Sentiment: The reported end of takeover discussions removes the possibility of a deal premium that had supported investor expectations. The news triggered Thursday’s steep decline and remains the key near-term concern for GPN shareholders. CD&R, GTCR drop pursuit of Global Payments, sources say

Global Payments Company Profile

Global Payments Inc. is a payment technology and software company that helps businesses accept and manage payments. Its services support in-person, online and mobile transactions, along with point-of-sale systems and software for business operations. The company also provides technology to financial institutions and other organizations that issue payment cards. Its services include card processing, account management and related digital tools. Global Payments serves customers across a range of industries and operates internationally, with services available in many countries.