Global Payments (NYSE:GPN) PT Lowered to $122.00

by · The Markets Daily

Global Payments (NYSE:GPN – Free Report) had its target price lowered by BMO Capital Markets from $126.00 to $122.00 in a research note issued to investors on Wednesday morning, Benzinga reports. The brokerage currently has a market perform rating on the business services provider’s stock.

A number of other analysts have also recently commented on GPN. William Blair cut shares of Global Payments from an outperform rating to a market perform rating in a research note on Wednesday. BNP Paribas upgraded Global Payments to a strong sell rating in a research report on Wednesday, September 4th. BTIG Research cut Global Payments from a buy rating to a neutral rating in a research report on Wednesday. Wells Fargo & Company started coverage on Global Payments in a research note on Wednesday, June 12th. They set an equal weight rating and a $100.00 price objective on the stock. Finally, B. Riley cut their target price on Global Payments from $204.00 to $194.00 and set a buy rating for the company in a research note on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of Moderate Buy and a consensus price target of $141.36.

View Our Latest Research Report on GPN

Global Payments Price Performance

Global Payments stock opened at $101.02 on Wednesday. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The business’s 50 day simple moving average is $105.57 and its 200 day simple moving average is $109.32. Global Payments has a 12 month low of $91.60 and a 12 month high of $141.77. The company has a market cap of $25.79 billion, a price-to-earnings ratio of 20.04, a PEG ratio of 0.71 and a beta of 0.98.

Global Payments (NYSE:GPN – Get Free Report) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, topping the consensus estimate of $2.90 by $0.03. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The company had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same quarter in the prior year, the company earned $2.48 EPS. The firm’s quarterly revenue was up 4.7% compared to the same quarter last year. Sell-side analysts forecast that Global Payments will post 11.07 EPS for the current year.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Investors of record on Friday, September 13th were given a dividend of $0.25 per share. The ex-dividend date was Friday, September 13th. This represents a $1.00 annualized dividend and a yield of 0.99%. Global Payments’s payout ratio is 19.84%.

Insider Buying and Selling at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of Global Payments stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total value of $166,305.23. Following the transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at $2,068,087.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Global Payments

Large investors have recently modified their holdings of the stock. Corient Private Wealth LLC grew its holdings in shares of Global Payments by 4.1% during the 4th quarter. Corient Private Wealth LLC now owns 22,795 shares of the business services provider’s stock worth $2,895,000 after acquiring an additional 904 shares during the period. Cambridge Investment Research Advisors Inc. raised its holdings in Global Payments by 28.2% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 14,978 shares of the business services provider’s stock worth $1,902,000 after purchasing an additional 3,294 shares in the last quarter. Orion Portfolio Solutions LLC lifted its position in Global Payments by 6.2% during the fourth quarter. Orion Portfolio Solutions LLC now owns 10,634 shares of the business services provider’s stock valued at $1,415,000 after buying an additional 621 shares during the period. Advisory Services Network LLC lifted its position in Global Payments by 73.9% during the fourth quarter. Advisory Services Network LLC now owns 5,924 shares of the business services provider’s stock valued at $752,000 after buying an additional 2,517 shares during the period. Finally, TD Asset Management Inc increased its stake in shares of Global Payments by 5.3% in the 4th quarter. TD Asset Management Inc now owns 115,237 shares of the business services provider’s stock worth $14,635,000 after acquiring an additional 5,833 shares in the last quarter. Institutional investors own 89.76% of the company’s stock.

Global Payments Company Profile

(Get Free Report)

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 two segments, Merchant Solutions and Issuer 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.

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