Global Payments (NYSE:GPN) Stock Rating Lowered by StockNews.com

StockNews.com cut shares of Global Payments (NYSE:GPN) from a buy rating to a hold rating in a report published on Friday.

Other equities analysts also recently issued research reports about the company. Keefe, Bruyette & Woods lifted their price objective on Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research report on Monday, December 9th. Jefferies Financial Group reduced their price target on Global Payments from $130.00 to $120.00 and set a “buy” rating on the stock in a report on Wednesday, October 16th. Stephens dropped their price objective on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating for the company in a report on Friday, October 18th. Monness Crespi & Hardt reduced their target price on shares of Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a research note on Wednesday, September 25th. Finally, B. Riley decreased their target price on shares of Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, eleven have issued a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat.com, Global Payments currently has a consensus rating of “Moderate Buy” and an average price target of $138.55.

Global Payments Trading Up 0.6 %

GPN opened at $112.58 on Friday. The firm has a market capitalization of $28.65 billion, a price-to-earnings ratio of 21.20, a price-to-earnings-growth ratio of 0.88 and a beta of 1.00. The company’s 50 day simple moving average is $113.35 and its two-hundred day simple moving average is $106.15. Global Payments has a 1-year low of $91.60 and a 1-year high of $141.77. 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 Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 27th. Stockholders of record on Friday, December 13th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.89%. The ex-dividend date of this dividend was Friday, December 13th. Global Payments’s payout ratio is 18.83%.

Insider Activity at Global Payments

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

Institutional Investors Weigh In On Global Payments

A number of hedge funds have recently bought and sold shares of GPN. Massachusetts Financial Services Co. MA increased its stake in shares of Global Payments by 65.6% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock worth $203,047,000 after buying an additional 785,539 shares during the period. AQR Capital Management LLC grew its holdings in Global Payments by 188.1% during the 2nd quarter. AQR Capital Management LLC now owns 1,157,728 shares of the business services provider’s stock worth $109,857,000 after acquiring an additional 755,898 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Global Payments by 22.7% in the 3rd quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock valued at $271,090,000 after purchasing an additional 490,411 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in shares of Global Payments by 316.7% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 609,939 shares of the business services provider’s stock valued at $58,981,000 after purchasing an additional 463,568 shares in the last quarter. Finally, Soros Fund Management LLC purchased a new stake in shares of Global Payments during the 3rd quarter worth $47,113,000. Institutional investors and hedge funds own 89.76% of the company’s stock.

About Global Payments

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.