Global Payments (NYSE:GPN) Price Target Cut to $145.00 by Analysts at KeyCorp

Global Payments (NYSE:GPN) had its target price reduced by KeyCorp from $155.00 to $145.00 in a research report released on Thursday, Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

A number of other equities analysts also recently issued reports on the stock. BMO Capital Markets cut their price target on shares of Global Payments from $143.00 to $128.00 and set a market perform rating for the company in a report on Thursday. Wedbush upped their target price on shares of Global Payments from $130.00 to $160.00 and gave the stock an outperform rating in a research report on Wednesday, January 10th. Robert W. Baird decreased their price objective on Global Payments from $182.00 to $150.00 and set an outperform rating for the company in a research report on Thursday. UBS Group raised their target price on Global Payments from $130.00 to $145.00 and gave the stock a neutral rating in a research report on Thursday, February 15th. Finally, Keefe, Bruyette & Woods dropped their target price on Global Payments from $158.00 to $150.00 and set an outperform rating for the company in a research report on Thursday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and a consensus target price of $150.00.

Global Payments Stock Performance

NYSE GPN traded down $0.47 during trading hours on Thursday, reaching $110.90. The stock had a trading volume of 580,098 shares, compared to its average volume of 2,260,166. Global Payments has a 52-week low of $95.12 and a 52-week high of $141.77. The stock has a market cap of $28.31 billion, a P/E ratio of 22.10, a price-to-earnings-growth ratio of 0.72 and a beta of 0.97. The stock has a fifty day moving average of $127.50 and a 200 day moving average of $124.82. The company has a debt-to-equity ratio of 0.68, a quick ratio of 0.92 and a current ratio of 0.92.

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

Global Payments Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 28th. Stockholders of record on Friday, June 14th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Friday, June 14th. Global Payments’s dividend payout ratio (DPR) is presently 19.84%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Global Retirement Partners LLC boosted its stake in shares of Global Payments by 18.8% in the 1st quarter. Global Retirement Partners LLC now owns 524 shares of the business services provider’s stock valued at $70,000 after purchasing an additional 83 shares during the last quarter. Assenagon Asset Management S.A. boosted its stake in Global Payments by 1.9% in the first quarter. Assenagon Asset Management S.A. now owns 4,752 shares of the business services provider’s stock valued at $635,000 after acquiring an additional 90 shares during the last quarter. Coldstream Capital Management Inc. raised its stake in Global Payments by 3.8% in the 3rd quarter. Coldstream Capital Management Inc. now owns 2,485 shares of the business services provider’s stock valued at $287,000 after acquiring an additional 91 shares during the period. Fulton Bank N.A. lifted its holdings in Global Payments by 1.7% during the 4th quarter. Fulton Bank N.A. now owns 5,409 shares of the business services provider’s stock worth $687,000 after purchasing an additional 93 shares in the last quarter. Finally, Fidelis Capital Partners LLC boosted its stake in Global Payments by 5.1% during the first quarter. Fidelis Capital Partners LLC now owns 1,930 shares of the business services provider’s stock valued at $258,000 after buying an additional 93 shares during the period. Institutional investors 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.