Global Payments (NYSE:GPN) Rating Lowered to “Hold” at StockNews.com

StockNews.com downgraded shares of Global Payments (NYSE:GPN) from a buy rating to a hold rating in a research report released on Wednesday morning.

Several other equities analysts have also issued reports on GPN. Seaport Res Ptn lowered Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. TD Cowen cut their price objective on shares of Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. Sanford C. Bernstein downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating and dropped their price objective for the stock from $135.00 to $112.00 in a report on Tuesday, October 22nd. KeyCorp decreased their target price on shares of Global Payments from $145.00 to $135.00 and set an “overweight” rating on the stock in a research report on Wednesday, September 25th. Finally, B. Riley lowered their price objective on Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $136.57.

Global Payments Price Performance

Shares of NYSE GPN opened at $117.08 on Wednesday. The business has a fifty day moving average price of $105.86 and a two-hundred day moving average price of $103.50. The stock has a market capitalization of $29.80 billion, a PE ratio of 22.05, a P/E/G ratio of 0.89 and a beta of 0.97. The company has a debt-to-equity ratio of 0.65, a current ratio of 0.93 and a quick ratio of 0.93. Global Payments has a fifty-two week low of $91.60 and a fifty-two week high of $141.77.

Global Payments Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be issued a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.85%. Global Payments’s payout ratio is presently 18.83%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Cromwell Holdings LLC bought a new stake in Global Payments in the third quarter worth approximately $25,000. New Covenant Trust Company N.A. purchased a new position in shares of Global Payments during the 1st quarter valued at $31,000. LRI Investments LLC purchased a new position in Global Payments in the first quarter worth $32,000. POM Investment Strategies LLC bought a new position in Global Payments during the second quarter valued at approximately $32,000. Finally, Capital Performance Advisors LLP bought a new position in Global Payments during the 3rd quarter worth approximately $33,000. 89.76% of the stock is 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.