JPMorgan Chase & Co. Increases Global Payments (GPN) Price Target to $151.00

Global Payments (NYSE:GPN) had its price target increased by JPMorgan Chase & Co. from $140.00 to $151.00 in a research note published on Monday, May 6th, The Fly reports. The brokerage currently has an overweight rating on the business services provider’s stock.

Several other research analysts have also commented on GPN. Zacks Investment Research upgraded shares of Global Payments from a sell rating to a hold rating in a report on Monday, February 18th. SunTrust Banks upped their price objective on shares of Global Payments to $155.00 and gave the stock a buy rating in a report on Tuesday, April 16th. restated an outperform rating and issued a $143.00 price objective (up from $130.00) on shares of Global Payments in a report on Thursday, February 14th. ValuEngine upgraded shares of Global Payments from a hold rating to a buy rating in a report on Wednesday, February 13th. Finally, Mizuho increased their price target on shares of Global Payments to $136.00 and gave the stock a buy rating in a research note on Thursday, February 14th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty have issued a buy rating to the company. Global Payments currently has an average rating of Buy and a consensus target price of $146.31.

GPN traded up $5.26 during trading on Monday, hitting $152.93. 2,985,500 shares of the stock traded hands, compared to its average volume of 1,278,182. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 1.25. Global Payments has a 12-month low of $94.81 and a 12-month high of $158.73. The stock has a market capitalization of $23.40 billion, a P/E ratio of 29.47, a PEG ratio of 1.51 and a beta of 1.20.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Thursday, May 2nd. The business services provider reported $1.34 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.22 by $0.12. Global Payments had a net margin of 13.69% and a return on equity of 19.83%. The business had revenue of $1.04 billion during the quarter, compared to analyst estimates of $1.04 billion. During the same period in the prior year, the business earned $1.13 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. Sell-side analysts expect that Global Payments will post 5.79 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a $0.01 dividend. This represents a $0.04 dividend on an annualized basis and a dividend yield of 0.03%. The ex-dividend date is Thursday, June 13th. Global Payments’s payout ratio is 0.77%.

In related news, insider Cameron M. Bready sold 34,308 shares of the firm’s stock in a transaction that occurred on Monday, March 11th. The shares were sold at an average price of $131.33, for a total value of $4,505,669.64. Following the transaction, the insider now owns 138,520 shares of the company’s stock, valued at $18,191,831.60. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Robert H. B. Baldwin, Jr. sold 4,250 shares of the firm’s stock in a transaction that occurred on Tuesday, May 14th. The stock was sold at an average price of $146.36, for a total transaction of $622,030.00. Following the sale, the director now owns 48,382 shares in the company, valued at approximately $7,081,189.52. The disclosure for this sale can be found here. In the last three months, insiders sold 211,079 shares of company stock worth $27,503,399. 0.88% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in GPN. Ranger Investment Management L.P. bought a new stake in Global Payments in the fourth quarter worth $26,000. Cornerstone Advisors Inc. increased its position in Global Payments by 114.9% in the first quarter. Cornerstone Advisors Inc. now owns 202 shares of the business services provider’s stock worth $28,000 after purchasing an additional 108 shares during the last quarter. Berman Capital Advisors LLC increased its position in Global Payments by 317.5% in the first quarter. Berman Capital Advisors LLC now owns 238 shares of the business services provider’s stock worth $32,000 after purchasing an additional 181 shares during the last quarter. JOYN Advisors Inc. increased its position in Global Payments by 58.7% in the fourth quarter. JOYN Advisors Inc. now owns 346 shares of the business services provider’s stock worth $36,000 after purchasing an additional 128 shares during the last quarter. Finally, Bessemer Group Inc. increased its position in Global Payments by 35.7% in the fourth 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. Institutional investors own 97.48% 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.

Recommended Story: What are popular range trading strategies?

The Fly

Analyst Recommendations for Global Payments (NYSE:GPN)

Receive News & Ratings for Global Payments Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Global Payments and related companies with MarketBeat.com's FREE daily email newsletter.