Global Payments (NYSE:GPN) Stock Passes Above 200-Day Moving Average – Here’s Why

Global Payments Inc. (NYSE:GPN) shares crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $105.89 and traded as high as $112.43. Global Payments shares last traded at $112.06, with a volume of 938,433 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. BTIG Research cut Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. Keefe, Bruyette & Woods lifted their price target on Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Monday, December 9th. StockNews.com cut Global Payments from a “buy” rating to a “hold” rating in a research report on Friday. Barclays raised their price objective on Global Payments from $120.00 to $135.00 and gave the company an “overweight” rating in a report on Tuesday, December 17th. Finally, Stephens dropped their target price 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 equities research analyst has rated the stock with a sell rating, eleven have given a hold rating and sixteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Global Payments currently has an average rating of “Moderate Buy” and a consensus target price of $138.55.

Global Payments Trading Up 0.5 %

The firm has a market capitalization of $28.62 billion, a PE ratio of 21.18, a PEG ratio of 0.88 and a beta of 1.00. The business has a fifty day moving average price of $113.09 and a two-hundred day moving average price of $105.93. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Dividend Announcement

The company 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. The ex-dividend date of this dividend was Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.89%. Global Payments’s payout ratio is presently 18.83%.

Insider Buying and Selling

In other news, Director Robert H. B. Baldwin, Jr. purchased 5,800 shares of the firm’s stock in a transaction that occurred on Friday, December 13th. The stock was bought at an average price of $116.00 per share, for a total transaction of $672,800.00. Following the completion of the purchase, the director now directly owns 42,738 shares of the company’s stock, valued at $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 SEC, which can be accessed through this link. 0.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Global Payments

A number of hedge funds and other institutional investors have recently modified their holdings of GPN. Cromwell Holdings LLC acquired a new stake in shares of Global Payments during the 3rd quarter worth about $25,000. Beaird Harris Wealth Management LLC purchased a new position in shares of Global Payments during the third quarter worth about $25,000. Capital Performance Advisors LLP acquired a new stake in shares of Global Payments during the third quarter worth about $33,000. Whittier Trust Co. of Nevada Inc. lifted its holdings in shares of Global Payments by 59.6% in the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 383 shares of the business services provider’s stock valued at $39,000 after purchasing an additional 143 shares during the last quarter. Finally, Exchange Traded Concepts LLC acquired a new stake in shares of Global Payments in the 3rd quarter valued at about $50,000. 89.76% of the stock is currently owned by institutional investors and hedge funds.

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.