Global Payments (NYSE:GPN) PT Lowered to $155.00

Global Payments (NYSE:GPN) had its target price trimmed by Monness Crespi & Hardt from $165.00 to $155.00 in a research note released on Wednesday morning, Marketbeat reports. The brokerage currently has a buy rating on the business services provider’s stock.

Several other brokerages also recently weighed in on GPN. JPMorgan Chase & Co. lifted their price target on shares of Global Payments from $111.00 to $118.00 and gave the company a neutral rating in a report on Tuesday, August 20th. BMO Capital Markets lifted their target price on shares of Global Payments from $124.00 to $126.00 and gave the company a market perform rating in a research note on Thursday, August 8th. Keefe, Bruyette & Woods dropped their target price on shares of Global Payments from $150.00 to $140.00 and set an outperform rating for the company in a report on Monday, July 8th. BNP Paribas raised Global Payments to a strong sell rating in a report on Wednesday, September 4th. Finally, Stephens reaffirmed an overweight rating and issued a $130.00 price objective on shares of Global Payments in a research note on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Global Payments currently has a consensus rating of Moderate Buy and an average price target of $141.36.

Global Payments Stock Performance

Shares of NYSE GPN opened at $101.02 on Wednesday. Global Payments has a 12-month low of $91.60 and a 12-month high of $141.77. The firm has a market capitalization of $25.79 billion, a price-to-earnings ratio of 20.04, a price-to-earnings-growth ratio of 0.71 and a beta of 0.98. 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 firm has a 50 day moving average of $105.56 and a 200 day moving average of $109.52.

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, beating analysts’ consensus estimates of $2.90 by $0.03. The firm had revenue of $2.57 billion during the quarter, compared to the consensus estimate of $2.32 billion. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The company’s revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.48 EPS. On average, research analysts anticipate that Global Payments will post 11.07 earnings per share for the current year.

Global Payments Dividend Announcement

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 $0.25 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.99%. Global Payments’s dividend payout ratio is presently 19.84%.

Insiders Place Their Bets

In other news, CAO David M. Sheffield sold 1,651 shares of the 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 sale, the chief accounting officer now 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 is available at this hyperlink. 0.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Pzena Investment Management LLC boosted its holdings in Global Payments by 194.2% during the 2nd quarter. Pzena Investment Management LLC now owns 6,423,463 shares of the business services provider’s stock valued at $621,149,000 after acquiring an additional 4,240,388 shares during the period. Boston Partners lifted its position in shares of Global Payments by 0.3% during the first quarter. Boston Partners now owns 4,797,677 shares of the business services provider’s stock worth $639,967,000 after purchasing an additional 12,196 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Global Payments by 10.9% during the second quarter. Dimensional Fund Advisors LP now owns 1,957,914 shares of the business services provider’s stock valued at $189,307,000 after purchasing an additional 193,137 shares during the period. Glenview Capital Management LLC grew its holdings in shares of Global Payments by 5.5% in the fourth quarter. Glenview Capital Management LLC now owns 1,948,128 shares of the business services provider’s stock worth $247,412,000 after purchasing an additional 100,993 shares during the last quarter. Finally, Lyrical Asset Management LP increased its stake in Global Payments by 0.8% in the 4th quarter. Lyrical Asset Management LP now owns 1,764,123 shares of the business services provider’s stock worth $224,044,000 after buying an additional 14,235 shares during the period. Institutional investors own 89.76% of the company’s stock.

Global Payments Company Profile

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.