Global Payments (NYSE:GPN) Downgraded to Hold Rating by StockNews.com

StockNews.com downgraded shares of Global Payments (NYSE:GPN) from a buy rating to a hold rating in a research note issued to investors on Wednesday.

GPN has been the topic of several other reports. Stephens lowered their price target on shares of Global Payments from $130.00 to $125.00 and set an “overweight” rating on the stock in a research report on Friday, October 18th. B. Riley lowered their target price on Global Payments from $204.00 to $194.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. The Goldman Sachs Group raised their price target on Global Payments from $135.00 to $155.00 and gave the stock a “buy” rating in a research report on Monday, December 2nd. Keefe, Bruyette & Woods upped their price objective on Global Payments from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Monday, December 9th. Finally, BMO Capital Markets dropped their price objective on Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a research report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eleven have assigned a hold rating and sixteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $138.55.

Global Payments Price Performance

Global Payments stock opened at $112.98 on Wednesday. The firm has a market capitalization of $28.75 billion, a PE ratio of 21.28, a P/E/G ratio of 0.90 and a beta of 1.00. Global Payments has a 52 week low of $91.60 and a 52 week high of $141.77. The firm’s 50-day simple moving average is $111.45 and its 200 day simple moving average is $105.25. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.65.

Global Payments Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 27th. Shareholders of record on Friday, December 13th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, December 13th. This represents a $1.00 dividend on an annualized basis and a yield of 0.89%. Global Payments’s dividend payout ratio (DPR) is 18.83%.

Insider Transactions at Global Payments

In related news, Director Robert H. B. Baldwin, Jr. bought 5,800 shares of the stock in a transaction dated 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 purchase, the director now owns 42,738 shares in the company, valued at $4,957,608. This represents a 15.70 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 0.98% of the company’s stock.

Hedge Funds Weigh In On Global Payments

A number of institutional investors and hedge funds have recently bought and sold shares of GPN. Allspring Global Investments Holdings LLC lifted its position in shares of Global Payments by 3.7% during the second quarter. Allspring Global Investments Holdings LLC now owns 13,018 shares of the business services provider’s stock worth $1,259,000 after purchasing an additional 464 shares in the last quarter. Atomi Financial Group Inc. boosted its position in Global Payments by 17.4% in the 2nd quarter. Atomi Financial Group Inc. now owns 3,572 shares of the business services provider’s stock valued at $345,000 after buying an additional 529 shares during the last quarter. Cambridge Investment Research Advisors Inc. boosted its position in Global Payments by 10.9% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 25,604 shares of the business services provider’s stock valued at $2,476,000 after buying an additional 2,509 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Global Payments by 11.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 102,369 shares of the business services provider’s stock valued at $9,899,000 after acquiring an additional 10,796 shares in the last quarter. Finally, UMB Bank n.a. increased its position in shares of Global Payments by 25.3% during the second quarter. UMB Bank n.a. now owns 1,456 shares of the business services provider’s stock worth $141,000 after acquiring an additional 294 shares during the last quarter. Hedge funds and other 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.