Stephens cut shares of Global Payments (NYSE:GPN - Free Report) from an overweight rating to an equal weight rating in a report published on Friday, MarketBeat reports. They currently have $120.00 target price on the business services provider's stock, down from their previous target price of $125.00.
GPN has been the topic of a number of other reports. Oppenheimer assumed coverage on shares of Global Payments in a research report on Tuesday, October 1st. They set a "market perform" rating on the stock. Keefe, Bruyette & Woods raised their price objective on Global Payments from $130.00 to $140.00 and gave the stock an "outperform" rating in a research note on Monday, December 9th. Susquehanna reiterated a "positive" rating and issued a $147.00 price objective on shares of Global Payments in a research report on Tuesday, September 17th. Monness Crespi & Hardt lowered their price objective on shares of Global Payments from $165.00 to $155.00 and set a "buy" rating on the stock in a research note on Wednesday, September 25th. Finally, William Blair cut Global Payments from an "outperform" rating to a "market perform" rating in a report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, thirteen have given a hold rating and fourteen have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $136.82.
Check Out Our Latest Stock Report on Global Payments
Global Payments Trading Down 4.9 %
Shares of Global Payments stock traded down $5.50 during trading hours on Friday, reaching $105.89. The stock had a trading volume of 2,161,678 shares, compared to its average volume of 1,264,663. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments has a 1 year low of $91.60 and a 1 year high of $141.77. The firm has a market capitalization of $26.95 billion, a price-to-earnings ratio of 19.94, a P/E/G ratio of 0.88 and a beta of 1.00. The firm has a 50 day simple moving average of $114.16 and a two-hundred day simple moving average of $106.57.
Global Payments Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Friday, December 13th. Global Payments's dividend payout ratio is currently 18.83%.
Insiders Place Their Bets
In other 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 acquired at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the acquisition, the director now directly owns 42,738 shares in the company, valued at approximately $4,957,608. The trade was a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 0.98% of the company's stock.
Institutional Investors Weigh In On Global Payments
A number of institutional investors and hedge funds have recently modified their holdings of GPN. Cromwell Holdings LLC bought a new position in shares of Global Payments in the 3rd quarter worth $25,000. Beaird Harris Wealth Management LLC bought a new stake in shares of Global Payments in the 3rd quarter valued at about $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Global Payments in the 3rd quarter valued at approximately $33,000. Whittier Trust Co. of Nevada Inc. boosted its stake in Global Payments by 59.6% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider's stock worth $39,000 after acquiring an additional 143 shares during the last quarter. Finally, Quarry LP increased its stake in Global Payments by 134.4% in the second quarter. Quarry LP now owns 511 shares of the business services provider's stock valued at $49,000 after purchasing an additional 293 shares in the last quarter. 89.76% of the stock is owned by institutional investors.
Global Payments Company Profile
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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.
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