JPMorgan Chase & Co. Issues Pessimistic Forecast for Global Payments (NYSE:GPN) Stock Price

Global Payments (NYSE:GPN) had its target price trimmed by JPMorgan Chase & Co. from $118.00 to $115.00 in a report released on Tuesday morning, Benzinga reports. They currently have a neutral rating on the business services provider’s stock.

Several other research firms also recently issued reports on GPN. Seaport Res Ptn downgraded Global Payments from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 24th. StockNews.com cut shares of Global Payments from a “buy” rating to a “hold” rating in a research report on Thursday, September 26th. Barclays lowered their price target on shares of Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a research report on Monday, September 30th. Susquehanna reissued a “positive” rating and issued a $147.00 price objective on shares of Global Payments in a report on Tuesday, September 17th. Finally, KeyCorp lowered their target price on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $136.96.

Global Payments Stock Performance

NYSE GPN opened at $103.71 on Tuesday. The stock has a market cap of $26.47 billion, a PE ratio of 20.58, a P/E/G ratio of 0.74 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92. The firm has a 50-day moving average of $104.72 and a 200-day moving average of $104.37. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.03. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. During the same period last year, the business posted $2.48 earnings per share. The business’s revenue for the quarter was up 4.7% compared to the same quarter last year. On average, sell-side analysts anticipate that Global Payments will post 11.06 EPS for the current year.

Global Payments Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Stockholders of record on Friday, December 13th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.96%. The ex-dividend date is Friday, December 13th. Global Payments’s payout ratio is 19.84%.

Insider Buying and Selling

In other Global Payments news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $100.73, for a total value of $166,305.23. Following the completion of the transaction, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at $2,068,087.63. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Global Payments

Institutional investors have recently added to or reduced their stakes in the business. Pzena Investment Management LLC lifted its holdings in shares of Global Payments by 194.2% during the second quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock worth $621,149,000 after purchasing an additional 4,240,388 shares during the period. AQR Capital Management LLC lifted its holdings in Global Payments by 188.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after buying an additional 755,898 shares during the period. Natixis grew its position in shares of Global Payments by 830.2% in the 1st quarter. Natixis now owns 589,520 shares of the business services provider’s stock valued at $78,795,000 after buying an additional 526,143 shares during the last quarter. Lord Abbett & CO. LLC grew its position in shares of Global Payments by 267.0% in the 1st quarter. Lord Abbett & CO. LLC now owns 677,854 shares of the business services provider’s stock valued at $90,602,000 after buying an additional 493,164 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of Global Payments by 316.7% in the second quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock valued at $58,981,000 after buying an additional 463,568 shares during the period. 89.76% of the stock is owned by institutional investors.

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 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.