Global Payments’ (GPN) “Neutral” Rating Reiterated at The Goldman Sachs Group

The Goldman Sachs Group reissued their neutral rating on shares of Global Payments (NYSE:GPN) in a research note published on Thursday, MarketBeat reports. The brokerage currently has a $122.00 target price on the business services provider’s stock, down from their prior target price of $155.00.

Other research analysts have also recently issued research reports about the company. TD Cowen cut their price objective on Global Payments from $125.00 to $122.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. BMO Capital Markets cut their price target on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a report on Wednesday, September 25th. Royal Bank of Canada decreased their price objective on shares of Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a report on Thursday, October 31st. Susquehanna reaffirmed a “positive” rating and issued a $147.00 target price on shares of Global Payments in a report on Tuesday, September 17th. Finally, Monness Crespi & Hardt reduced their price target on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating for the company in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Global Payments has a consensus rating of “Hold” and a consensus price target of $135.71.

Global Payments Price Performance

Shares of NYSE GPN opened at $105.89 on Thursday. The company has a market cap of $26.95 billion, a PE ratio of 19.94, a P/E/G ratio of 0.88 and a beta of 1.00. 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 1-year low of $91.60 and a 1-year high of $141.77. The stock has a fifty day moving average price of $114.19 and a 200 day moving average price of $106.71.

Global Payments Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 27th. Shareholders of record on Friday, December 13th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend was Friday, December 13th. Global Payments’s dividend payout ratio is currently 18.83%.

Insider Activity

In related news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the business’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $116.00 per share, with a total value of $672,800.00. Following the completion of the transaction, the director now directly owns 42,738 shares of the company’s stock, valued at $4,957,608. This trade represents a 15.70 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.98% of the company’s stock.

Institutional Investors Weigh In On Global Payments

Hedge funds have recently modified their holdings of the stock. Tidal Investments LLC lifted its holdings in Global Payments by 0.3% in the 3rd quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider’s stock worth $2,760,000 after buying an additional 86 shares in the last quarter. Sage Capital Advisors llc lifted its stake in shares of Global Payments by 0.3% in the fourth quarter. Sage Capital Advisors llc now owns 28,232 shares of the business services provider’s stock worth $3,164,000 after acquiring an additional 96 shares in the last quarter. SYM FINANCIAL Corp boosted its holdings in Global Payments by 4.1% in the third quarter. SYM FINANCIAL Corp now owns 2,440 shares of the business services provider’s stock valued at $250,000 after purchasing an additional 97 shares during the last quarter. Allen Mooney & Barnes Investment Advisors LLC grew its stake in Global Payments by 1.2% during the 3rd quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock valued at $841,000 after purchasing an additional 98 shares in the last quarter. Finally, Deseret Mutual Benefit Administrators increased its holdings in Global Payments by 27.2% during the 3rd quarter. Deseret Mutual Benefit Administrators now owns 543 shares of the business services provider’s stock worth $56,000 after purchasing an additional 116 shares during 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.