Global Payments (NYSE:GPN) Receives New Coverage from Analysts at BTIG Research

BTIG Research initiated coverage on shares of Global Payments (NYSE:GPN) in a report issued on Monday, Marketbeat reports. The brokerage issued a buy rating and a $135.00 price target on the business services provider’s stock.

Other equities research analysts also recently issued research reports about the company. StockNews.com raised Global Payments from a hold rating to a buy rating in a report on Thursday, November 9th. JPMorgan Chase & Co. boosted their price target on Global Payments from $126.00 to $143.00 and gave the company a neutral rating in a research note on Tuesday, August 22nd. Jefferies Financial Group upgraded Global Payments from a hold rating to a buy rating and upped their target price for the company from $125.00 to $145.00 in a research report on Thursday, August 10th. Stephens lifted their price objective on shares of Global Payments from $135.00 to $145.00 and gave the company an overweight rating in a research note on Wednesday, August 2nd. Finally, Truist Financial raised their target price on shares of Global Payments from $145.00 to $160.00 and gave the stock a buy rating in a report on Tuesday, August 22nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, Global Payments has an average rating of Moderate Buy and an average target price of $145.46.

Global Payments Stock Performance

Shares of NYSE:GPN opened at $113.38 on Monday. The company has a debt-to-equity ratio of 0.73, a quick ratio of 1.09 and a current ratio of 1.09. The firm has a market cap of $29.52 billion, a PE ratio of 33.95, a price-to-earnings-growth ratio of 0.79 and a beta of 0.97. The firm’s 50 day simple moving average is $114.00 and its 200-day simple moving average is $111.72. Global Payments has a one year low of $92.27 and a one year high of $129.70.

Global Payments (NYSE:GPN) last released its quarterly earnings data on Tuesday, October 31st. The business services provider reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.55 by $0.20. Global Payments had a net margin of 9.23% and a return on equity of 11.28%. The company had revenue of $2.48 billion during the quarter, compared to analyst estimates of $2.23 billion. During the same period in the prior year, the firm earned $2.37 earnings per share. The firm’s revenue for the quarter was up 8.3% compared to the same quarter last year. As a group, equities analysts predict that Global Payments will post 9.76 EPS for the current year.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 29th. Stockholders of record on Friday, December 15th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 14th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.88%. Global Payments’s payout ratio is presently 29.94%.

Insider Activity

In other news, insider David Lawrence Green sold 17,920 shares of Global Payments stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $112.53, for a total value of $2,016,537.60. Following the completion of the transaction, the insider now owns 77,411 shares in the company, valued at approximately $8,711,059.83. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider David Lawrence Green sold 17,920 shares of the stock in a transaction dated Thursday, November 2nd. The stock was sold at an average price of $112.53, for a total value of $2,016,537.60. Following the transaction, the insider now owns 77,411 shares in the company, valued at approximately $8,711,059.83. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Joshua J. Whipple sold 37,096 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $127.28, for a total value of $4,721,578.88. Following the sale, the chief financial officer now owns 39,772 shares of the company’s stock, valued at approximately $5,062,180.16. The disclosure for this sale can be found here. Insiders own 1.30% of the company’s stock.

Institutional Trading of Global Payments

A number of large investors have recently made changes to their positions in GPN. Retirement Planning Co of New England Inc. raised its stake in shares of Global Payments by 3.7% during the second quarter. Retirement Planning Co of New England Inc. now owns 2,323 shares of the business services provider’s stock worth $229,000 after purchasing an additional 83 shares during the last quarter. Penserra Capital Management LLC increased its holdings in Global Payments by 6.4% in the first quarter. Penserra Capital Management LLC now owns 1,389 shares of the business services provider’s stock valued at $190,000 after buying an additional 83 shares in the last quarter. B. Metzler seel. Sohn & Co. AG lifted its position in shares of Global Payments by 0.5% during the 2nd quarter. B. Metzler seel. Sohn & Co. AG now owns 17,142 shares of the business services provider’s stock valued at $1,689,000 after acquiring an additional 91 shares during the period. Coldstream Capital Management Inc. boosted its stake in shares of Global Payments by 3.8% during the 3rd quarter. Coldstream Capital Management Inc. now owns 2,485 shares of the business services provider’s stock worth $287,000 after acquiring an additional 91 shares in the last quarter. Finally, Stratos Wealth Partners LTD. raised its holdings in Global Payments by 2.0% during the third quarter. Stratos Wealth Partners LTD. now owns 4,707 shares of the business services provider’s stock worth $543,000 after purchasing an additional 94 shares during the last quarter. 85.23% of the stock is owned by institutional investors and hedge funds.

About Global Payments

Global Payments Inc provides payment technology and software solutions for card, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Consumer Solutions. The Merchant Solutions segment offers authorization, settlement and funding, customer support, chargeback resolution, terminal rental, sales and deployment, payment security, and consolidated billing and reporting services.