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

Global Payments (NYSE:GPN) had its price objective decreased by Barclays from $145.00 to $120.00 in a research report report published on Monday, Benzinga reports. Barclays currently has an overweight rating on the business services provider’s stock.

Several other research analysts have also recently weighed in on the stock. BMO Capital Markets lowered their price target on shares of Global Payments from $126.00 to $122.00 and set a market perform rating on the stock in a report on Wednesday, September 25th. Seaport Res Ptn cut Global Payments from a strong-buy rating to a hold rating in a report on Tuesday, September 24th. KeyCorp decreased their price objective on Global Payments from $145.00 to $135.00 and set an overweight rating on the stock in a report on Wednesday, September 25th. Susquehanna reissued a positive rating and set a $147.00 target price on shares of Global Payments in a report on Tuesday, September 17th. Finally, Royal Bank of Canada reduced their target price on shares of Global Payments from $172.00 to $158.00 and set an outperform rating for the company in a research report on Thursday, August 8th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $140.23.

Global Payments Stock Performance

Shares of GPN stock opened at $97.66 on Monday. The company has a fifty day moving average price of $105.61 and a two-hundred day moving average price of $108.49. Global Payments has a one year low of $91.60 and a one year high of $141.77. The stock has a market cap of $24.93 billion, a P/E ratio of 19.38, a P/E/G ratio of 0.71 and a beta of 0.98. The company has a debt-to-equity ratio of 0.68, a current ratio of 0.92 and a quick ratio of 0.92.

Global Payments (NYSE:GPN) last posted its quarterly earnings results on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, topping analysts’ consensus estimates of $2.90 by $0.03. The business had revenue of $2.57 billion during the quarter, compared to analysts’ expectations of $2.32 billion. Global Payments had a return on equity of 11.93% and a net margin of 14.26%. Global Payments’s quarterly revenue was up 4.7% on a year-over-year basis. During the same quarter last year, the company posted $2.48 earnings per share. As a group, equities analysts predict that Global Payments will post 11.07 EPS for the current year.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were paid a $0.25 dividend. The ex-dividend date was Friday, September 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.02%. Global Payments’s payout ratio is currently 19.84%.

Insider Buying and Selling

In related news, CAO David M. Sheffield sold 1,651 shares of the stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total value of $166,305.23. Following the completion of the transaction, the chief accounting officer now owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Global Payments

Several large investors have recently bought and sold shares of the company. Mattson Financial Services LLC acquired a new position in shares of Global Payments in the second quarter valued at approximately $1,855,000. Sanctuary Advisors LLC bought a new stake in Global Payments during the 2nd quarter worth approximately $900,000. Brown Financial Advisors acquired a new position in Global Payments in the 2nd quarter valued at approximately $1,128,000. Heritage Oak Wealth Advisors LLC acquired a new position in Global Payments in the 2nd quarter valued at approximately $333,000. Finally, Delphi Management Inc. MA raised its stake in shares of Global Payments by 5.6% during the second quarter. Delphi Management Inc. MA now owns 13,682 shares of the business services provider’s stock valued at $1,323,000 after acquiring an additional 730 shares during the last quarter. 89.76% of the stock is currently owned by institutional investors.

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.