Global Payments (NYSE:GPN) Price Target Cut to $155.00 by Analysts at Monness Crespi & Hardt

Global Payments (NYSE:GPN) had its price target cut by Monness Crespi & Hardt from $165.00 to $155.00 in a research report released on Wednesday, MarketBeat.com reports. They currently have a buy rating on the business services provider’s stock.

Several other research firms have also recently issued reports on GPN. Evercore ISI cut their target price 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. Royal Bank of Canada reduced their price objective on shares of Global Payments from $172.00 to $158.00 and set an outperform rating on the stock in a research report on Thursday, August 8th. BNP Paribas upgraded shares of Global Payments to a strong sell rating in a research report on Wednesday, September 4th. BTIG Research downgraded shares of Global Payments from a buy rating to a neutral rating in a report on Wednesday. Finally, William Blair cut shares of Global Payments from an outperform rating to a market perform rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of Moderate Buy and an average price target of $141.36.

Global Payments Price Performance

Shares of NYSE:GPN opened at $97.06 on Wednesday. The company has a market capitalization of $24.70 billion, a P/E ratio of 19.26, a P/E/G ratio of 0.71 and a beta of 0.98. Global Payments has a 1-year low of $91.60 and a 1-year high of $141.77. The firm’s 50 day simple moving average is $105.76 and its two-hundred day simple moving average is $109.70. 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 released its earnings results on Wednesday, August 7th. The business services provider reported $2.93 earnings per share for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. Global Payments had a net margin of 14.26% and a return on equity of 11.93%. The company had revenue of $2.57 billion for the quarter, compared to analysts’ expectations of $2.32 billion. During the same quarter in the previous year, the company earned $2.48 EPS. Global Payments’s revenue for the quarter was up 4.7% on a year-over-year basis. Research analysts expect that Global Payments will post 11.07 EPS for the current fiscal year.

Global Payments Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 27th. Shareholders of record on Friday, September 13th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.03%. The ex-dividend date is Friday, September 13th. Global Payments’s payout ratio is 19.84%.

Insider Activity

In related news, CAO David M. Sheffield sold 1,651 shares of Global Payments 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 transaction, the chief accounting officer now directly owns 20,531 shares of the company’s stock, valued at approximately $2,068,087.63. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Global Payments

Several hedge funds and other institutional investors have recently modified their holdings of GPN. New Covenant Trust Company N.A. purchased a new position in Global Payments during the 1st quarter valued at $31,000. LRI Investments LLC purchased a new stake in shares of Global Payments during the first quarter valued at $32,000. POM Investment Strategies LLC bought a new position in shares of Global Payments in the second quarter worth about $32,000. West Paces Advisors Inc. increased its stake in Global Payments by 54.5% in the 1st quarter. West Paces Advisors Inc. now owns 309 shares of the business services provider’s stock worth $41,000 after buying an additional 109 shares during the period. Finally, North Star Investment Management Corp. lifted its holdings in Global Payments by 154.7% during the 1st quarter. North Star Investment Management Corp. now owns 354 shares of the business services provider’s stock valued at $47,000 after buying an additional 215 shares in the last quarter. 89.76% of the stock is currently owned by hedge funds and other 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.