Global Payments (NYSE:GPN) Price Target Cut to $115.00 by Analysts at JPMorgan Chase & Co.

Global Payments (NYSE:GPN) had its target price decreased by JPMorgan Chase & Co. from $118.00 to $115.00 in a report released on Tuesday, Benzinga reports. JPMorgan Chase & Co. currently has a neutral rating on the business services provider’s stock.

Several other equities analysts have also recently issued reports on GPN. Barclays reduced their price objective on Global Payments from $145.00 to $120.00 and set an “overweight” rating on the stock in a research note on Monday, September 30th. BMO Capital Markets decreased their price target on shares of Global Payments from $126.00 to $122.00 and set a “market perform” rating for the company in a report on Wednesday, September 25th. Sanford C. Bernstein downgraded shares of Global Payments from an “outperform” rating to a “market perform” rating and lowered their price objective for the company from $135.00 to $112.00 in a research report on Tuesday, October 22nd. Keefe, Bruyette & Woods cut their target price on shares of Global Payments from $150.00 to $140.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Finally, BTIG Research lowered Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eleven have given a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $136.50.

Global Payments Stock Performance

Global Payments stock opened at $104.44 on Tuesday. Global Payments has a 52 week low of $91.60 and a 52 week high of $141.77. The company has a current ratio of 0.93, a quick ratio of 0.92 and a debt-to-equity ratio of 0.65. The stock has a market cap of $26.57 billion, a P/E ratio of 19.67, a price-to-earnings-growth ratio of 0.77 and a beta of 0.98. The stock has a 50 day moving average of $104.60 and a 200-day moving average of $104.24.

Global Payments (NYSE:GPN) last posted its quarterly earnings data on Wednesday, August 7th. The business services provider reported $2.93 EPS for the quarter, beating analysts’ consensus estimates of $2.90 by $0.03. The firm had revenue of $2.57 billion for the quarter, compared to the consensus estimate of $2.32 billion. Global Payments had a net margin of 13.61% and a return on equity of 11.94%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period in the prior year, the firm posted $2.48 EPS. On average, analysts expect that Global Payments will post 11.05 EPS for the current fiscal year.

Global Payments Announces Dividend

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 $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 0.96%. The ex-dividend date is Friday, December 13th. Global Payments’s dividend payout ratio (DPR) is presently 18.83%.

Insider Buying and Selling at Global Payments

In related news, CAO David M. Sheffield sold 1,651 shares of the business’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $100.73, for a total value of $166,305.23. Following the sale, the chief accounting officer now directly owns 20,531 shares in the company, valued at $2,068,087.63. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in GPN. Miracle Mile Advisors LLC acquired a new stake in shares of Global Payments during the first quarter worth $203,000. SeaCrest Wealth Management LLC purchased a new stake in Global Payments during the first quarter valued at about $202,000. KFG Wealth Management LLC boosted its holdings in shares of Global Payments by 6.4% in the first quarter. KFG Wealth Management LLC now owns 1,883 shares of the business services provider’s stock worth $252,000 after buying an additional 114 shares during the period. State of Alaska Department of Revenue increased its position in shares of Global Payments by 0.5% in the first quarter. State of Alaska Department of Revenue now owns 28,253 shares of the business services provider’s stock worth $3,776,000 after acquiring an additional 135 shares in the last quarter. Finally, First Trust Direct Indexing L.P. increased its position in shares of Global Payments by 16.5% in the first quarter. First Trust Direct Indexing L.P. now owns 5,827 shares of the business services provider’s stock worth $779,000 after acquiring an additional 827 shares in the last quarter. Institutional investors and hedge funds 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.