Wedbush Increases Global Payments (NYSE:GPN) Price Target to $185.00

Global Payments (NYSE:GPN) had its price objective increased by Wedbush from $168.00 to $185.00 in a research note published on Monday morning, 24/7 WallStreet reports. Wedbush currently has an outperform rating on the business services provider’s stock. Wedbush also issued estimates for Global Payments’ Q1 2020 earnings at $1.46 EPS, Q2 2020 earnings at $1.62 EPS, Q3 2020 earnings at $1.88 EPS, Q4 2020 earnings at $1.78 EPS and FY2020 earnings at $6.73 EPS.

GPN has been the subject of several other research reports. Atlantic Securities lowered Biogen from an overweight rating to a neutral rating in a report on Thursday, March 21st. Zacks Investment Research lowered GENEL ENERGY PL/ADR from a buy rating to a hold rating in a report on Tuesday, May 7th. Cantor Fitzgerald reissued a hold rating and issued a $8.00 price objective on shares of Pacific Biosciences of California in a report on Friday, May 3rd. Guggenheim reissued a hold rating on shares of Burlington Stores in a report on Thursday, May 30th. Finally, Bank of America lifted their price objective on Visa from $177.00 to $192.00 and gave the stock a buy rating in a report on Monday, June 17th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nineteen have given a buy rating to the stock. Global Payments presently has a consensus rating of Buy and a consensus target price of $150.18.

Shares of NYSE:GPN opened at $167.32 on Monday. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 1.25. The company’s fifty day moving average is $160.20. Global Payments has a 1-year low of $94.81 and a 1-year high of $167.37. The company has a market cap of $25.95 billion, a PE ratio of 32.06, a PEG ratio of 1.67 and a beta of 1.03.

Global Payments (NYSE:GPN) last announced its earnings results on Thursday, May 2nd. The business services provider reported $1.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.22 by $0.12. Global Payments had a return on equity of 19.83% and a net margin of 13.69%. The firm had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period last year, the firm posted $1.13 EPS. The business’s revenue was up 12.8% compared to the same quarter last year. Equities research analysts forecast that Global Payments will post 5.81 earnings per share for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, June 28th. Shareholders of record on Friday, June 14th were issued a dividend of $0.01 per share. This represents a $0.04 dividend on an annualized basis and a yield of 0.02%. The ex-dividend date of this dividend was Thursday, June 13th. Global Payments’s payout ratio is presently 0.77%.

In other Global Payments news, Director William I. Jacobs sold 600 shares of Global Payments stock in a transaction dated Monday, July 15th. The stock was sold at an average price of $165.05, for a total transaction of $99,030.00. Following the completion of the transaction, the director now owns 30,188 shares of the company’s stock, valued at approximately $4,982,529.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Alan M. Silberstein sold 700 shares of Global Payments stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $157.95, for a total value of $110,565.00. Following the transaction, the director now directly owns 40,163 shares of the company’s stock, valued at approximately $6,343,745.85. The disclosure for this sale can be found here. Insiders have sold a total of 5,550 shares of company stock valued at $831,625 in the last ninety days. Insiders own 0.88% of the company’s stock.

Several institutional investors and hedge funds have recently modified their holdings of the company. Bessemer Group Inc. increased its stake in shares of Global Payments by 35.7% during the 4th quarter. Bessemer Group Inc. now owns 407 shares of the business services provider’s stock worth $43,000 after purchasing an additional 107 shares during the last quarter. Dimensional Fund Advisors LP increased its stake in shares of Global Payments by 2.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 749,934 shares of the business services provider’s stock worth $77,341,000 after purchasing an additional 19,347 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of Global Payments by 7.0% during the 4th quarter. Geode Capital Management LLC now owns 1,969,663 shares of the business services provider’s stock worth $202,756,000 after purchasing an additional 128,466 shares during the last quarter. Two Sigma Advisers LP acquired a new position in shares of Global Payments during the 4th quarter worth $1,248,000. Finally, Bank of America Corp DE increased its stake in shares of Global Payments by 16.0% during the 4th quarter. Bank of America Corp DE now owns 1,448,331 shares of the business services provider’s stock worth $149,367,000 after purchasing an additional 199,924 shares during the last quarter. Hedge funds and other institutional investors own 97.84% of the company’s stock.

Global Payments Company Profile

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments. The company operates in three segments: North America, Europe, and Asia-Pacific. It 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 online reporting services.

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