Global Payments (NYSE:GPN) Given New $110.00 Price Target at Barclays

Global Payments (NYSE:GPN) had its price objective lowered by Barclays from $125.00 to $110.00 in a research note issued to investors on Tuesday morning,Benzinga reports. The brokerage currently has an overweight rating on the business services provider’s stock.

GPN has been the subject of several other research reports. Citigroup cut their target price on Global Payments from $138.00 to $135.00 and set a “buy” rating for the company in a research report on Tuesday, February 18th. StockNews.com raised Global Payments from a “hold” rating to a “buy” rating in a report on Thursday, January 23rd. Keefe, Bruyette & Woods lowered their target price on shares of Global Payments from $140.00 to $135.00 and set an “outperform” rating on the stock in a report on Monday, March 31st. The Goldman Sachs Group reissued a “neutral” rating and set a $122.00 price target (down from $155.00) on shares of Global Payments in a report on Thursday, January 9th. Finally, Morgan Stanley reduced their price target on shares of Global Payments from $166.00 to $163.00 and set an “overweight” rating on the stock in a research report on Friday, February 14th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $129.81.

Global Payments Stock Up 0.5 %

GPN stock opened at $85.45 on Tuesday. The company’s 50 day simple moving average is $97.55 and its 200-day simple moving average is $105.46. The firm has a market capitalization of $21.01 billion, a P/E ratio of 13.83, a P/E/G ratio of 0.86 and a beta of 0.97. Global Payments has a 52-week low of $77.83 and a 52-week high of $127.66. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.97 and a quick ratio of 0.93.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Thursday, February 13th. The business services provider reported $2.84 EPS for the quarter, missing analysts’ consensus estimates of $2.98 by ($0.14). Global Payments had a return on equity of 12.21% and a net margin of 15.54%. The business had revenue of $2.29 billion during the quarter, compared to the consensus estimate of $2.31 billion. As a group, equities research analysts anticipate that Global Payments will post 11.89 EPS for the current year.

Global Payments Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 28th. Shareholders of record on Friday, March 14th were given a $0.25 dividend. The ex-dividend date of this dividend was Friday, March 14th. This represents a $1.00 annualized dividend and a yield of 1.17%. Global Payments’s dividend payout ratio is currently 16.18%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GPN. Vanguard Group Inc. increased its stake in Global Payments by 0.7% in the 4th quarter. Vanguard Group Inc. now owns 24,995,107 shares of the business services provider’s stock worth $2,800,952,000 after acquiring an additional 179,195 shares during the last quarter. Pzena Investment Management LLC boosted its position in Global Payments by 25.0% during the fourth quarter. Pzena Investment Management LLC now owns 8,298,846 shares of the business services provider’s stock valued at $929,969,000 after buying an additional 1,659,984 shares during the period. Geode Capital Management LLC grew its stake in shares of Global Payments by 5.1% during the fourth quarter. Geode Capital Management LLC now owns 6,230,322 shares of the business services provider’s stock valued at $696,362,000 after buying an additional 301,877 shares during the last quarter. Franklin Resources Inc. increased its holdings in shares of Global Payments by 1.5% in the third quarter. Franklin Resources Inc. now owns 5,499,729 shares of the business services provider’s stock worth $564,437,000 after buying an additional 83,481 shares during the period. Finally, Norges Bank bought a new stake in shares of Global Payments in the 4th quarter valued at about $345,823,000. 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.