Global Payments (NYSE:GPN) PT Lowered to $194.00 at Royal Bank of Canada

Global Payments (NYSE:GPNGet Rating) had its target price decreased by Royal Bank of Canada from $197.00 to $194.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the business services provider’s stock.

Several other equities research analysts have also weighed in on the company. Citigroup decreased their price objective on Global Payments from $195.00 to $180.00 in a report on Monday, April 25th. Wolfe Research cut their target price on Global Payments from $200.00 to $160.00 in a research note on Wednesday, July 20th. The Goldman Sachs Group started coverage on Global Payments in a research note on Tuesday, May 17th. They issued a neutral rating and a $151.00 target price for the company. Oppenheimer cut their target price on Global Payments from $152.00 to $144.00 and set an outperform rating for the company in a research note on Tuesday. Finally, Deutsche Bank Aktiengesellschaft cut their target price on Global Payments from $222.00 to $188.00 and set a buy rating for the company in a research note on Tuesday. Six equities research analysts have rated the stock with a hold rating and twenty-three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of Moderate Buy and a consensus price target of $175.03.

Global Payments Trading Down 1.2 %

Shares of Global Payments stock opened at $128.60 on Tuesday. Global Payments has a 1 year low of $105.52 and a 1 year high of $179.27. The firm has a market cap of $36.21 billion, a PE ratio of 714.48, a P/E/G ratio of 0.78 and a beta of 1.04. The stock has a fifty day moving average price of $118.48 and a 200-day moving average price of $129.30. The company has a debt-to-equity ratio of 0.45, a current ratio of 0.87 and a quick ratio of 1.06.

Global Payments (NYSE:GPNGet Rating) last announced its quarterly earnings data on Monday, August 1st. The business services provider reported $2.36 earnings per share for the quarter, topping the consensus estimate of $2.34 by $0.02. Global Payments had a return on equity of 9.24% and a net margin of 0.87%. The company had revenue of $2.28 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same quarter last year, the firm posted $1.92 EPS. The firm’s revenue for the quarter was up 6.7% on a year-over-year basis. Equities research analysts anticipate that Global Payments will post 9.05 EPS for the current year.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, September 30th. Shareholders of record on Friday, September 16th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, September 15th. This represents a $1.00 dividend on an annualized basis and a yield of 0.78%. Global Payments’s dividend payout ratio (DPR) is currently 555.59%.

Global Payments declared that its Board of Directors has approved a share buyback program on Monday, August 1st that authorizes the company to repurchase $1.50 billion in outstanding shares. This repurchase authorization authorizes the business services provider to purchase up to 4.2% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board of directors believes its shares are undervalued.

Insiders Place Their Bets

In other Global Payments news, EVP David Lawrence Green sold 16,252 shares of Global Payments stock in a transaction that occurred on Friday, June 3rd. The stock was sold at an average price of $130.10, for a total value of $2,114,385.20. Following the transaction, the executive vice president now directly owns 97,818 shares of the company’s stock, valued at approximately $12,726,121.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 1.19% of the company’s stock.

Hedge Funds Weigh In On Global Payments

Hedge funds have recently made changes to their positions in the business. Calamos Advisors LLC increased its stake in shares of Global Payments by 15.4% during the first quarter. Calamos Advisors LLC now owns 93,807 shares of the business services provider’s stock valued at $12,837,000 after buying an additional 12,504 shares during the period. Steward Partners Investment Advisory LLC increased its stake in shares of Global Payments by 50.9% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 2,337 shares of the business services provider’s stock valued at $316,000 after buying an additional 788 shares during the period. Hartford Investment Management Co. increased its stake in shares of Global Payments by 7.2% during the fourth quarter. Hartford Investment Management Co. now owns 29,389 shares of the business services provider’s stock valued at $3,973,000 after buying an additional 1,970 shares during the period. Truist Financial Corp increased its stake in shares of Global Payments by 3.2% during the first quarter. Truist Financial Corp now owns 1,018,948 shares of the business services provider’s stock valued at $139,433,000 after buying an additional 31,217 shares during the period. Finally, Atria Investments LLC increased its stake in shares of Global Payments by 58.2% during the fourth quarter. Atria Investments LLC now owns 12,817 shares of the business services provider’s stock valued at $1,733,000 after buying an additional 4,715 shares during the period. 84.53% of the stock is owned by hedge funds and other institutional investors.

About Global Payments

(Get Rating)

Global Payments Inc provides payment technology and software solutions for card, electronic, check, and digital-based payments in the Americas, Europe, and the Asia-Pacific. It operates through three segments: Merchant Solutions, Issuer Solutions, and Business and Consumer Solutions. The Merchant Solutions segment offers authorization services, settlement and funding services, customer support and help-desk functions, chargeback resolution, terminal rental, sales and deployment, payment security services, consolidated billing and statements, and on-line reporting services.

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