Monness Crespi & Hardt Cuts Global Payments (NYSE:GPN) Price Target to $165.00

Global Payments (NYSE:GPN) had its target price reduced by Monness Crespi & Hardt from $175.00 to $165.00 in a report published on Friday morning, MarketBeat.com reports. They currently have a buy rating on the business services provider’s stock.

Several other research analysts also recently weighed in on the company. Mizuho reiterated a neutral rating and issued a $129.00 price target on shares of Global Payments in a report on Wednesday, March 27th. StockNews.com lowered Global Payments from a buy rating to a hold rating in a research note on Thursday, May 2nd. JPMorgan Chase & Co. upped their target price on Global Payments from $145.00 to $159.00 and gave the company a neutral rating in a research report on Thursday, February 15th. TheStreet upgraded Global Payments from a c rating to a b- rating in a research note on Thursday, February 1st. Finally, TD Cowen reduced their price objective on shares of Global Payments from $160.00 to $152.00 and set a buy rating on the stock in a research note on Thursday, May 2nd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of Moderate Buy and an average price target of $150.00.

Global Payments Trading Down 0.3 %

Shares of GPN opened at $111.09 on Friday. The firm has a market capitalization of $28.36 billion, a P/E ratio of 22.04, a PEG ratio of 0.72 and a beta of 0.97. 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 firm’s 50-day moving average is $127.05 and its two-hundred day moving average is $124.81. Global Payments has a twelve month low of $95.12 and a twelve month high of $141.77.

Global Payments (NYSE:GPN) last issued its quarterly earnings data on Wednesday, February 14th. The business services provider reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.64 by $0.01. Global Payments had a net margin of 13.40% and a return on equity of 11.72%. The business had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.18 billion. During the same period last year, the company posted $2.30 EPS. The company’s revenue was up 7.9% on a year-over-year basis. On average, research analysts predict that Global Payments will post 10.95 earnings per share for the current fiscal year.

Global Payments Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Investors of record on Friday, June 14th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Friday, June 14th. Global Payments’s payout ratio is currently 19.84%.

Institutional Investors Weigh In On Global Payments

A number of institutional investors and hedge funds have recently bought and sold shares of GPN. Norges Bank acquired a new stake in Global Payments during the fourth quarter valued at approximately $365,933,000. FMR LLC boosted its stake in shares of Global Payments by 40.7% during the 3rd quarter. FMR LLC now owns 9,346,779 shares of the business services provider’s stock worth $1,078,525,000 after acquiring an additional 2,703,434 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in shares of Global Payments by 338.3% in the 3rd quarter. Ameriprise Financial Inc. now owns 3,288,108 shares of the business services provider’s stock worth $379,416,000 after acquiring an additional 2,537,941 shares during the last quarter. Pzena Investment Management LLC acquired a new stake in shares of Global Payments during the third quarter worth $197,875,000. Finally, Boston Partners raised its position in shares of Global Payments by 40.5% during the third quarter. Boston Partners now owns 5,142,771 shares of the business services provider’s stock worth $591,613,000 after purchasing an additional 1,481,714 shares during the period. 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.