Global Payments (NYSE:GPN) Price Target Increased to $156.00 by Analysts at Robert W. Baird

Global Payments (NYSE:GPNGet Rating) had its price target raised by Robert W. Baird from $144.00 to $156.00 in a report published on Tuesday morning, The Fly reports. Robert W. Baird currently has a maintains rating on the business services provider’s stock.

Other research analysts have also issued reports about the company. Wells Fargo & Company lowered their price target on Global Payments from $185.00 to $148.00 and set an overweight rating on the stock in a report on Thursday, July 14th. Morgan Stanley lowered their target price on Global Payments from $156.00 to $123.00 and set an equal weight rating on the stock in a report on Tuesday, June 21st. Barclays lowered their target price on Global Payments from $182.00 to $160.00 in a report on Tuesday, May 3rd. Keefe, Bruyette & Woods lowered their target price on Global Payments from $175.00 to $155.00 in a report on Monday, July 11th. Finally, Mizuho lowered their target price on Global Payments from $155.00 to $148.00 in a report on Tuesday, May 3rd. Six investment analysts have rated the stock with a hold rating and eighteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $175.17.

Global Payments Price Performance

Shares of GPN opened at $126.45 on Tuesday. The firm has a market capitalization of $35.60 billion, a price-to-earnings ratio of 36.23, a price-to-earnings-growth ratio of 0.80 and a beta of 1.04. 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 one year low of $105.52 and a one year high of $195.38. The stock’s fifty day moving average is $118.39 and its 200-day moving average is $129.44.

Global Payments (NYSE:GPNGet Rating) last issued its quarterly earnings results on Monday, August 1st. The business services provider reported $2.36 EPS for the quarter, beating analysts’ consensus estimates of $2.34 by $0.02. The company had revenue of $2.28 billion for the quarter, compared to analyst estimates of $2.09 billion. Global Payments had a return on equity of 8.79% and a net margin of 11.66%. The company’s quarterly revenue was up 6.7% compared to the same quarter last year. During the same period last year, the company earned $1.92 earnings per share. Equities analysts anticipate that Global Payments will post 9.05 EPS for the current year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Stockholders of record on Friday, September 16th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.00 annualized dividend and a dividend yield of 0.79%. Global Payments’s dividend payout ratio is 28.65%.

Global Payments announced that its Board of Directors has initiated a stock buyback plan on Monday, August 1st that permits the company to buyback $1.50 billion in shares. This buyback authorization permits the business services provider to repurchase up to 4.2% of its stock through open market purchases. Stock buyback plans are often an indication that the company’s board of directors believes its shares are undervalued.

Insider Activity

In other news, EVP David Lawrence Green sold 16,252 shares of Global Payments 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 sale, the executive vice president now directly owns 97,818 shares in the company, valued at approximately $12,726,121.80. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.19% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Global Payments

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Calamos Advisors LLC lifted its holdings in Global Payments by 15.4% in the 1st quarter. Calamos Advisors LLC now owns 93,807 shares of the business services provider’s stock worth $12,837,000 after purchasing an additional 12,504 shares during the last quarter. Steward Partners Investment Advisory LLC lifted its holdings in Global Payments by 50.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,337 shares of the business services provider’s stock worth $316,000 after purchasing an additional 788 shares during the last quarter. Hartford Investment Management Co. lifted its holdings in Global Payments by 7.2% in the 4th quarter. Hartford Investment Management Co. now owns 29,389 shares of the business services provider’s stock worth $3,973,000 after purchasing an additional 1,970 shares during the last quarter. Truist Financial Corp lifted its holdings in Global Payments by 3.2% in the 1st quarter. Truist Financial Corp now owns 1,018,948 shares of the business services provider’s stock worth $139,433,000 after purchasing an additional 31,217 shares during the last quarter. Finally, Atria Investments LLC lifted its holdings in Global Payments by 58.2% in the 4th quarter. Atria Investments LLC now owns 12,817 shares of the business services provider’s stock worth $1,733,000 after purchasing an additional 4,715 shares during the last quarter. 84.53% of the stock is currently owned by institutional investors and hedge funds.

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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