Global Payments (NYSE:GPN) PT Lowered to $140.00 at Keefe, Bruyette & Woods

Global Payments (NYSE:GPN) had its target price reduced by Keefe, Bruyette & Woods from $150.00 to $140.00 in a research report sent to investors on Monday, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Other equities research analysts have also recently issued reports about the stock. Mizuho dropped their price target on shares of Global Payments from $129.00 to $105.00 and set a neutral rating on the stock in a research report on Wednesday, May 15th. BMO Capital Markets cut their target price on shares of Global Payments from $143.00 to $128.00 and set a market perform rating for the company in a research note on Thursday, May 2nd. Citigroup decreased their price target on shares of Global Payments from $163.00 to $155.00 and set a buy rating on the stock in a research report on Thursday, May 2nd. Evercore ISI dropped their price target on Global Payments from $170.00 to $160.00 and set an outperform rating on the stock in a report on Tuesday, June 25th. Finally, Susquehanna reduced their price objective on Global Payments from $160.00 to $157.00 and set a positive rating for the company in a research note on Thursday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of Moderate Buy and a consensus price target of $145.32.

Global Payments Stock Performance

GPN stock opened at $96.84 on Monday. The company has a 50-day simple moving average of $100.52 and a 200 day simple moving average of $119.64. The company has a market capitalization of $24.72 billion, a P/E ratio of 19.21, a PEG ratio of 0.61 and a beta of 0.98. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.68. Global Payments has a fifty-two week low of $91.60 and a fifty-two week high of $141.77.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Wednesday, May 1st. The business services provider reported $2.48 earnings per share for the quarter, topping analysts’ consensus estimates of $2.41 by $0.07. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The company had revenue of $2.18 billion during the quarter, compared to analyst estimates of $2.17 billion. Sell-side analysts predict that Global Payments will post 11.09 earnings per share for the current fiscal year.

Global Payments Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 28th. Stockholders of record on Friday, June 14th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, June 14th. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. Global Payments’s payout ratio is 19.84%.

Insider Buying and Selling

In other Global Payments news, VP Andrea M. Carter sold 3,300 shares of the firm’s stock in a transaction that occurred on Thursday, May 9th. The stock was sold at an average price of $111.34, for a total value of $367,422.00. Following the completion of the sale, the vice president now owns 25,209 shares in the company, valued at approximately $2,806,770.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Global Payments

A number of hedge funds have recently made changes to their positions in GPN. Norges Bank acquired a new position in Global Payments in the fourth quarter worth about $365,933,000. Kodai Capital Management LP bought a new stake in shares of Global Payments in the 4th quarter valued at approximately $69,029,000. ANTIPODES PARTNERS Ltd acquired a new position in shares of Global Payments in the 4th quarter worth approximately $68,677,000. Natixis lifted its position in shares of Global Payments by 830.2% during the 1st quarter. Natixis now owns 589,520 shares of the business services provider’s stock worth $78,795,000 after buying an additional 526,143 shares during the period. Finally, Lord Abbett & CO. LLC boosted its stake in 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 in the last quarter. Institutional investors and hedge funds 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.