Global Payments (NYSE:GPN) Given Neutral Rating at The Goldman Sachs Group

The Goldman Sachs Group reaffirmed their neutral rating on shares of Global Payments (NYSE:GPN) in a report published on Thursday morning,Benzinga reports. The brokerage currently has a $122.00 target price on the business services provider’s stock, down from their prior target price of $155.00.

A number of other equities analysts also recently weighed in on GPN. JPMorgan Chase & Co. lowered their price target on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research report on Tuesday, October 29th. Susquehanna reissued a “positive” rating and set a $147.00 target price on shares of Global Payments in a report on Tuesday, September 17th. Morgan Stanley raised their price target on Global Payments from $156.00 to $166.00 and gave the company an “overweight” rating in a report on Wednesday, December 18th. B. Riley decreased their price objective on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, StockNews.com cut shares of Global Payments from a “buy” rating to a “hold” rating in a research note on Friday, January 3rd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $137.05.

Global Payments Stock Performance

Shares of GPN opened at $111.38 on Thursday. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a 50-day moving average of $114.16 and a 200-day moving average of $106.57. The company has a market cap of $28.35 billion, a PE ratio of 20.98, a price-to-earnings-growth ratio of 0.88 and a beta of 1.00. Global Payments has a one year low of $91.60 and a one year high of $141.77.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.25 dividend. The ex-dividend date was Friday, December 13th. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. Global Payments’s payout ratio is 18.83%.

Insider Transactions at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The shares were bought at an average cost of $116.00 per share, with a total value of $672,800.00. Following the acquisition, the director now owns 42,738 shares of the company’s stock, valued at $4,957,608. This trade represents a 15.70 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 0.98% of the stock is owned by insiders.

Institutional Trading of Global Payments

Hedge funds have recently added to or reduced their stakes in the stock. Massachusetts Financial Services Co. MA lifted its stake in shares of Global Payments by 65.6% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock valued at $203,047,000 after acquiring an additional 785,539 shares during the last quarter. AQR Capital Management LLC increased its holdings in Global Payments by 188.1% in 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 purchasing an additional 755,898 shares in the last quarter. Janus Henderson Group PLC raised its position in Global Payments by 22.7% in the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock valued at $271,090,000 after purchasing an additional 490,411 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its stake in shares of Global Payments by 316.7% during 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 purchasing an additional 463,568 shares in the last quarter. Finally, Soros Fund Management LLC bought a new stake in shares of Global Payments during the third quarter worth about $47,113,000. 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.