Global Payments (NYSE:GPN) PT Lowered to $120.00

Global Payments (NYSE:GPN - Free Report) had its price objective trimmed by Jefferies Financial Group from $130.00 to $120.00 in a research note released on Wednesday, Benzinga reports. The firm currently has a buy rating on the business services provider's stock.

Several other brokerages have also recently commented on GPN. B. Riley dropped their target price on shares of Global Payments from $204.00 to $194.00 and set a "buy" rating for the company in a research report on Wednesday, September 25th. Morgan Stanley cut their price objective on shares of Global Payments from $164.00 to $156.00 and set an "overweight" rating on the stock in a research report on Wednesday, September 25th. Evercore ISI reduced their price target on Global Payments from $170.00 to $160.00 and set an "outperform" rating for the company in a research report on Tuesday, June 25th. KeyCorp reduced their price objective on shares of Global Payments from $145.00 to $135.00 and set an "overweight" rating for the company in a research note on Wednesday, September 25th. Finally, Susquehanna reissued a "positive" rating and issued a $147.00 target price on shares of Global Payments in a research note on Tuesday, September 17th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and sixteen have given a buy rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $138.70.

Global Payments Price Performance

Shares of NYSE GPN traded down $1.11 during trading on Wednesday, reaching $101.74. The company had a trading volume of 1,553,732 shares, compared to its average volume of 2,272,611. Global Payments has a 52 week low of $91.60 and a 52 week high of $141.77. The business's 50 day moving average price is $105.94 and its 200-day moving average price is $106.20. The stock has a market cap of $25.97 billion, a PE ratio of 20.19, a PEG ratio of 0.74 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92.

Global Payments (NYSE:GPN - Get Free Report) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.90 by $0.03. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. The business's revenue for the quarter was up 4.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.48 EPS. Analysts expect that Global Payments will post 11.07 earnings per share for the current year.

Global Payments Announces Dividend

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 dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date was Friday, September 13th. Global Payments's dividend payout ratio is currently 19.84%.

Insiders Place Their Bets

In related news, CAO David M. Sheffield sold 1,651 shares of the company's stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $100.73, for a total transaction of $166,305.23. Following the completion of the sale, the chief accounting officer now owns 20,531 shares of the company's stock, valued at $2,068,087.63. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Corporate insiders own 0.98% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in GPN. nVerses Capital LLC bought a new position in Global Payments in the third quarter valued at about $307,000. Hengehold Capital Management LLC boosted its stake in shares of Global Payments by 25.1% in the 3rd quarter. Hengehold Capital Management LLC now owns 3,400 shares of the business services provider's stock valued at $348,000 after purchasing an additional 683 shares in the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Global Payments by 19.7% during the 3rd quarter. Vontobel Holding Ltd. now owns 44,432 shares of the business services provider's stock valued at $4,551,000 after purchasing an additional 7,298 shares during the last quarter. McKinley Carter Wealth Services Inc. increased its position in Global Payments by 2.0% during the 3rd quarter. McKinley Carter Wealth Services Inc. now owns 51,987 shares of the business services provider's stock worth $5,325,000 after purchasing an additional 1,039 shares in the last quarter. Finally, Opal Wealth Advisors LLC lifted its stake in Global Payments by 14.7% in the 3rd quarter. Opal Wealth Advisors LLC now owns 2,367 shares of the business services provider's stock valued at $242,000 after purchasing an additional 303 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.