Global Payments (NYSE:GPN) Shares Down 8.9% – Here’s What Happened

Shares of Global Payments Inc. (NYSE:GPN) fell 8.9% during trading on Thursday. The company traded as low as $98.51 and last traded at $91.3570. Approximately 974,094 shares changed hands during trading, a decline of 71% from the average session volume of 3,375,660 shares. The stock had previously closed at $100.23.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on GPN shares. Barclays increased their price target on shares of Global Payments from $89.00 to $97.00 and gave the stock an “equal weight” rating in a research report on Monday. The Goldman Sachs Group boosted their price objective on shares of Global Payments from $82.00 to $94.00 and gave the company a “neutral” rating in a research report on Thursday, August 6th. HC Wainwright began coverage on Global Payments in a research note on Thursday, August 6th. They issued a “buy” rating for the company. Weiss Ratings upgraded Global Payments from a “sell (d)” rating to a “sell (d+)” rating in a research note on Thursday, October 8th. Finally, Morgan Stanley reaffirmed an “overweight” rating and issued a $103.00 target price on shares of Global Payments in a report on Thursday, August 6th. Thirteen research analysts have rated the stock with a Buy rating, eighteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $98.76.

Global Payments Stock Performance

The company has a market cap of $23.69 billion, a PE ratio of -19.63, a PEG ratio of 0.50 and a beta of 0.83. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.89. The business’s 50 day moving average is $87.24 and its two-hundred day moving average is $77.92.

Global Payments (NYSE:GPN) last issued its quarterly earnings results on Thursday, November 5th. The business services provider reported $3.58 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $3.58. The business had revenue of $3.18 billion during the quarter, compared to analyst estimates of $3.18 billion. Global Payments had a positive return on equity of 14.43% and a negative net margin of 11.21%. Global Payments’s revenue for the quarter was up 36.1% compared to the same quarter last year. During the same quarter in the prior year, the business posted $3.26 EPS. On average, equities research analysts anticipate that Global Payments Inc. will post 13.66 EPS for the current year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, December 24th. Stockholders of record on Thursday, December 10th will be paid a $0.25 dividend. The ex-dividend date of this dividend is Thursday, December 10th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.1%. Global Payments’s dividend payout ratio is -21.93%.

Institutional Trading of Global Payments

Several institutional investors have recently made changes to their positions in GPN. Gtcr LLC bought a new stake in Global Payments during the 1st quarter valued at approximately $2,911,939,000. Pzena Investment Management LLC bought a new position in Global Payments in the 2nd quarter worth approximately $848,344,000. Dimensional Fund Advisors LP boosted its stake in Global Payments by 1.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,117,172 shares of the business services provider’s stock worth $142,478,000 after purchasing an additional 23,293 shares during the period. Deutsche Bank AG bought a new position in Global Payments in the 2nd quarter worth approximately $138,781,000. Finally, Legal & General Group Plc purchased a new stake in Global Payments during the 2nd quarter valued at approximately $120,036,000. Hedge funds and other institutional investors own 89.76% of the company’s stock.

Global Payments Company Profile

Global Payments Inc. is a payment technology and software company that helps businesses accept and manage payments. Its services support in-person, online and mobile transactions, along with point-of-sale systems and software for business operations. The company also provides technology to financial institutions and other organizations that issue payment cards. Its services include card processing, account management and related digital tools. Global Payments serves customers across a range of industries and operates internationally, with services available in many countries.