A number of other equities analysts have also recently commented on GPN. Truist Financial boosted their price target on Global Payments from $150.00 to $160.00 and gave the stock a maintains rating in a report on Tuesday. Raymond James lowered their target price on Global Payments from $190.00 to $174.00 and set a maintains rating for the company in a report on Tuesday. Mizuho lowered their target price on Global Payments from $155.00 to $148.00 in a report on Tuesday, May 3rd. Oppenheimer lowered their target price on Global Payments from $152.00 to $144.00 and set an outperform rating for the company in a report on Tuesday. Finally, Citigroup lowered their target price on Global Payments from $195.00 to $180.00 in a report on Monday, April 25th. Six analysts have rated the stock with a hold rating and eighteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Moderate Buy and a consensus price target of $175.17.
Global Payments Price Performance
Global Payments stock opened at $126.45 on Tuesday. The company has a debt-to-equity ratio of 0.46, a quick ratio of 1.06 and a current ratio of 1.06. Global Payments has a 52 week low of $105.52 and a 52 week high of $195.38. The stock has a market capitalization of $35.60 billion, a P/E ratio of 36.23, a price-to-earnings-growth ratio of 0.80 and a beta of 1.04. The stock has a fifty day moving average of $118.39 and a 200-day moving average of $129.44.
Global Payments Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be issued a $0.25 dividend. The ex-dividend date is Thursday, September 15th. This represents a $1.00 annualized dividend and a yield of 0.79%. Global Payments’s payout ratio is currently 28.65%.
Global Payments announced that its Board of Directors has approved a stock repurchase program on Monday, August 1st that authorizes the company to repurchase $1.50 billion in shares. This repurchase authorization authorizes the business services provider to purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are typically an indication that the company’s leadership believes its stock is undervalued.
Insider Transactions at Global Payments
In other news, EVP David Lawrence Green sold 16,252 shares of the stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $130.10, for a total value of $2,114,385.20. Following the completion of the sale, the executive vice president now directly owns 97,818 shares of the company’s stock, valued at $12,726,121.80. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 1.19% of the company’s stock.
Institutional Trading of Global Payments
Institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp increased its position in shares of Global Payments by 3.5% during the fourth quarter. State Street Corp now owns 11,472,284 shares of the business services provider’s stock valued at $1,550,823,000 after acquiring an additional 387,950 shares during the last quarter. Boston Partners increased its position in shares of Global Payments by 7.3% during the first quarter. Boston Partners now owns 5,051,165 shares of the business services provider’s stock valued at $691,018,000 after acquiring an additional 345,616 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Global Payments by 4.6% during the fourth quarter. Geode Capital Management LLC now owns 4,766,200 shares of the business services provider’s stock valued at $642,546,000 after acquiring an additional 208,681 shares during the last quarter. JPMorgan Chase & Co. increased its position in shares of Global Payments by 10.6% during the first quarter. JPMorgan Chase & Co. now owns 3,395,277 shares of the business services provider’s stock valued at $464,607,000 after acquiring an additional 326,254 shares during the last quarter. Finally, Victory Capital Management Inc. increased its position in shares of Global Payments by 2.5% during the second quarter. Victory Capital Management Inc. now owns 3,006,129 shares of the business services provider’s stock valued at $332,598,000 after acquiring an additional 73,722 shares during the last quarter. 84.53% of the stock is owned by hedge funds and other institutional investors.
About Global Payments
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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