Global Payments (NYSE:GPN) Stock Crosses Above 200 Day Moving Average - What's Next?

Shares of Global Payments Inc. (NYSE:GPN - Get Free Report) passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $105.89 and traded as high as $112.43. Global Payments shares last traded at $112.06, with a volume of 938,433 shares trading hands.

Analysts Set New Price Targets

A number of analysts have commented on GPN shares. StockNews.com lowered Global Payments from a "buy" rating to a "hold" rating in a report on Wednesday, December 25th. Oppenheimer began coverage on Global Payments in a research report on Tuesday, October 1st. They issued a "market perform" rating for the company. Royal Bank of Canada dropped their price target on shares of Global Payments from $143.00 to $130.00 and set an "outperform" rating on the stock in a report on Thursday, October 31st. JPMorgan Chase & Co. decreased their price objective on shares of Global Payments from $118.00 to $115.00 and set a "neutral" rating for the company in a report on Tuesday, October 29th. Finally, TD Cowen lowered their price objective on shares of Global Payments from $125.00 to $122.00 and set a "buy" rating on the stock in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Global Payments has an average rating of "Moderate Buy" and an average target price of $138.55.

Global Payments Trading Down 0.1 %

The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.93 and a current ratio of 0.93. The company has a market capitalization of $28.48 billion, a PE ratio of 21.07, a PEG ratio of 0.90 and a beta of 1.00. The stock has a fifty day moving average of $113.09 and a 200 day moving average of $105.93.

Global Payments Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.89%. The ex-dividend date was Friday, December 13th. Global Payments's dividend payout ratio (DPR) is presently 18.83%.

Insider Activity at Global Payments

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

Institutional Trading of Global Payments

Several hedge funds have recently modified their holdings of GPN. Pzena Investment Management LLC increased its position in Global Payments by 3.4% in the third quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider's stock worth $679,952,000 after purchasing an additional 215,399 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Global Payments by 0.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider's stock worth $605,078,000 after buying an additional 31,934 shares during the last quarter. Franklin Resources Inc. raised its position in shares of Global Payments by 1.5% during the 3rd quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider's stock valued at $564,437,000 after buying an additional 83,481 shares in the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Global Payments by 22.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider's stock valued at $271,090,000 after acquiring an additional 490,411 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its position in Global Payments by 65.6% in the third quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider's stock worth $203,047,000 after acquiring an additional 785,539 shares in the last quarter. 89.76% of the stock is owned by hedge funds and other 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.