Citigroup Cuts Global Payments (NYSE:GPN) Price Target to $135.00

Global Payments (NYSE:GPN) had its target price reduced by Citigroup from $138.00 to $135.00 in a research report report published on Tuesday morning,Benzinga reports. They currently have a buy rating on the business services provider’s stock.

GPN has been the topic of several other reports. Keefe, Bruyette & Woods boosted their price target on Global Payments from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Monday, December 9th. Royal Bank of Canada cut their price objective on Global Payments from $143.00 to $130.00 and set an “outperform” rating on the stock in a research note on Thursday, October 31st. JPMorgan Chase & Co. cut 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 cut their price objective on Global Payments from $135.00 to $125.00 and set an “overweight” rating on the stock in a research note on Tuesday. Finally, Morgan Stanley cut their price objective on Global Payments from $166.00 to $163.00 and set an “overweight” rating on the stock in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $134.33.

Global Payments Stock Performance

NYSE:GPN opened at $105.65 on Tuesday. The stock has a market cap of $26.16 billion, a P/E ratio of 17.10, a price-to-earnings-growth ratio of 0.86 and a beta of 1.01. The company has a current ratio of 0.97, a quick ratio of 0.93 and a debt-to-equity ratio of 0.66. The stock’s 50-day moving average is $110.16 and its 200-day moving average is $108.75. Global Payments has a 1-year low of $91.60 and a 1-year high of $140.38.

Global Payments (NYSE:GPN) last released its quarterly earnings results on Thursday, February 13th. The business services provider reported $2.84 earnings per share for the quarter, missing the consensus estimate of $2.98 by ($0.14). The firm had revenue of $2.29 billion for the quarter, compared to the consensus estimate of $2.31 billion. Global Payments had a return on equity of 12.21% and a net margin of 15.54%. Equities research analysts anticipate that Global Payments will post 12.08 earnings per share for the current year.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 28th. Stockholders of record on Friday, March 14th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date of this dividend is Friday, March 14th. Global Payments’s payout ratio is 16.18%.

Insider Transactions at Global Payments

In related 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 acquired at an average price 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 of the company’s stock, valued at $4,957,608. This represents a 15.70 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Global Payments

Institutional investors have recently bought and sold shares of the stock. Cromwell Holdings LLC bought a new stake in Global Payments during the third quarter worth $25,000. Beaird Harris Wealth Management LLC bought a new stake in Global Payments during the third quarter worth $25,000. Optiver Holding B.V. bought a new stake in Global Payments during the fourth quarter worth $28,000. Capital Performance Advisors LLP bought a new stake in Global Payments during the third quarter worth $33,000. Finally, Whipplewood Advisors LLC bought a new stake in Global Payments during the fourth quarter worth $37,000. 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.