Global Payments (NYSE:GPN) Downgraded by StockNews.com to Hold

StockNews.com lowered shares of Global Payments (NYSE:GPN) from a buy rating to a hold rating in a research note published on Wednesday.

A number of other research firms also recently commented on GPN. Seaport Res Ptn downgraded shares of Global Payments from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 24th. William Blair cut Global Payments from an “outperform” rating to a “market perform” rating in a report on Wednesday, September 25th. JPMorgan Chase & Co. lowered their price objective on Global Payments from $118.00 to $115.00 and set a “neutral” rating on the stock in a research note on Tuesday, October 29th. Barclays lifted their price target on Global Payments from $120.00 to $135.00 and gave the stock an “overweight” rating in a report on Tuesday, December 17th. Finally, 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. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $138.55.

Global Payments Price Performance

Global Payments stock opened at $112.35 on Wednesday. The company has a fifty day simple moving average of $112.12 and a 200-day simple moving average of $105.46. The firm has a market capitalization of $28.59 billion, a price-to-earnings ratio of 21.16, a PEG ratio of 0.90 and a beta of 1.00. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65. Global Payments has a 52-week low of $91.60 and a 52-week high of $141.77.

Global Payments Dividend Announcement

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

Insider Activity at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of Global Payments stock in a transaction dated Friday, December 13th. The shares were acquired at an average cost of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the purchase, the director now owns 42,738 shares in the company, valued at approximately $4,957,608. The trade was a 15.70 % increase in their ownership of the stock. 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

Several large investors have recently bought and sold shares of GPN. Tidal Investments LLC boosted its stake in shares of Global Payments by 0.3% in the 3rd quarter. Tidal Investments LLC now owns 26,946 shares of the business services provider’s stock valued at $2,760,000 after buying an additional 86 shares during the period. SYM FINANCIAL Corp raised 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 acquiring an additional 97 shares in the last quarter. Allen Mooney & Barnes Investment Advisors LLC lifted its stake in Global Payments by 1.2% in the third quarter. Allen Mooney & Barnes Investment Advisors LLC now owns 8,210 shares of the business services provider’s stock worth $841,000 after acquiring an additional 98 shares during the last quarter. Deseret Mutual Benefit Administrators grew 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 acquiring an additional 116 shares in the last quarter. Finally, Metis Global Partners LLC increased its position in shares of Global Payments by 1.4% in the 3rd quarter. Metis Global Partners LLC now owns 8,257 shares of the business services provider’s stock valued at $846,000 after purchasing an additional 116 shares during the last quarter. Hedge funds and other institutional investors own 89.76% of the company’s stock.

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.