Global Payments (NYSE:GPN) Price Target Lowered to $143.00 at Royal Bank of Canada

Global Payments (NYSE:GPN) had its price target cut by Royal Bank of Canada from $158.00 to $143.00 in a research report released on Friday morning, Benzinga reports. They currently have an outperform rating on the business services provider’s stock.

Other research analysts have also issued reports about the company. William Blair lowered Global Payments from an outperform rating to a market perform rating in a research report on Wednesday, September 25th. BTIG Research downgraded Global Payments from a buy rating to a neutral rating in a report on Wednesday, September 25th. Oppenheimer initiated coverage on Global Payments in a report on Tuesday, October 1st. They issued a market perform rating for the company. Seaport Res Ptn lowered shares of Global Payments from a strong-buy rating to a hold rating in a research note on Tuesday, September 24th. Finally, KeyCorp decreased their target price 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. One analyst has rated the stock with a sell rating, ten have issued a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of Moderate Buy and a consensus target price of $139.55.

Global Payments Price Performance

Shares of Global Payments stock opened at $97.56 on Friday. The stock has a market capitalization of $24.90 billion, a P/E ratio of 19.23, a PEG ratio of 0.71 and a beta of 0.98. The company has a current ratio of 0.92, a quick ratio of 0.92 and a debt-to-equity ratio of 0.68. The business’s fifty day moving average price is $105.54 and its 200 day moving average price is $107.86. Global Payments has a twelve month low of $91.60 and a twelve month high of $141.77.

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

Global Payments Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 27th. Stockholders of record on Friday, September 13th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Friday, September 13th. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

Insider Transactions at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The stock was 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 owns 20,531 shares in the company, valued at $2,068,087.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.98% of the company’s stock.

Institutional Trading of Global Payments

Hedge funds have recently bought and sold shares of the company. The Manufacturers Life Insurance Company raised its holdings in shares of Global Payments by 1.0% during the fourth quarter. The Manufacturers Life Insurance Company now owns 192,025 shares of the business services provider’s stock valued at $24,392,000 after buying an additional 1,863 shares during the last quarter. Lake Street Advisors Group LLC acquired a new position in Global Payments during the 4th quarter worth $210,000. Capital International Investors grew its stake in shares of Global Payments by 1.3% in the fourth quarter. Capital International Investors now owns 1,031,108 shares of the business services provider’s stock worth $130,951,000 after purchasing an additional 13,189 shares in the last quarter. Tower Research Capital LLC TRC increased its holdings in shares of Global Payments by 122.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 41,191 shares of the business services provider’s stock valued at $5,231,000 after purchasing an additional 22,669 shares during the period. Finally, Public Employees Retirement Association of Colorado raised its stake in shares of Global Payments by 531.5% during the fourth quarter. Public Employees Retirement Association of Colorado now owns 39,445 shares of the business services provider’s stock valued at $5,010,000 after purchasing an additional 33,199 shares in 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.