Global Payments (NYSE:GPN) PT Lowered to $155.00 at Monness Crespi & Hardt

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

A number of other brokerages have also weighed in on GPN. TD Cowen cut their price objective on Global Payments from $125.00 to $122.00 and set a buy rating on the stock in a research report on Wednesday. Royal Bank of Canada reduced their price objective on shares of Global Payments from $172.00 to $158.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. Susquehanna restated a positive rating and issued a $147.00 price objective on shares of Global Payments in a report on Tuesday, September 17th. 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. Finally, Evercore ISI decreased their price target on shares of Global Payments from $170.00 to $160.00 and set an outperform rating for the company in a research note on Tuesday, June 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and sixteen have assigned a buy rating to the company. According to MarketBeat, Global Payments presently has an average rating of Moderate Buy and an average price target of $141.36.

Global Payments Stock Up 3.4 %

Shares of NYSE GPN opened at $101.02 on Wednesday. The firm’s fifty day moving average is $105.56 and its 200 day moving average is $109.52. Global Payments has a 52 week low of $91.60 and a 52 week high of $141.77. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. 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) last released 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 for the quarter, compared to analysts’ expectations 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 company earned $2.48 earnings per share. On average, equities research analysts expect that Global Payments will post 11.07 earnings per share for the current year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 27th. Shareholders of record on Friday, September 13th were issued a $0.25 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.00 annualized dividend and a yield of 0.99%. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

Insider Activity

In related news, CAO David M. Sheffield sold 1,651 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was 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 approximately $2,068,087.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 0.98% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Fidelis Capital Partners LLC boosted its position in shares of Global Payments by 5.1% during the first quarter. Fidelis Capital Partners LLC now owns 1,930 shares of the business services provider’s stock valued at $258,000 after buying an additional 93 shares during the last quarter. Oliver Luxxe Assets LLC lifted its stake in Global Payments by 0.3% during the 1st quarter. Oliver Luxxe Assets LLC now owns 34,435 shares of the business services provider’s stock valued at $4,603,000 after acquiring an additional 108 shares during the period. West Paces Advisors Inc. boosted its holdings in shares of Global Payments by 54.5% during the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 109 shares during the last quarter. KFG Wealth Management LLC grew its stake in shares of Global Payments by 6.4% in the first quarter. KFG Wealth Management LLC now owns 1,883 shares of the business services provider’s stock worth $252,000 after acquiring an additional 114 shares during the period. Finally, Wedmont Private Capital raised its holdings in shares of Global Payments by 0.9% during the first quarter. Wedmont Private Capital now owns 13,859 shares of the business services provider’s stock valued at $1,776,000 after purchasing an additional 119 shares during the last quarter. Hedge funds and other 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.