Global Payments (NYSE:GPN) Stock Price Expected to Rise, Morgan Stanley Analyst Says

Global Payments (NYSE:GPN) had its price target lifted by Morgan Stanley from $156.00 to $166.00 in a research note issued to investors on Wednesday morning,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

Other research analysts have also recently issued reports about the stock. BTIG Research cut shares of Global Payments from a “buy” rating to a “neutral” rating in a report on Wednesday, September 25th. 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 note on Wednesday, September 25th. The Goldman Sachs Group lifted their price objective on Global Payments from $135.00 to $155.00 and gave the stock a “buy” rating in a report on Monday, December 2nd. Monness Crespi & Hardt lowered their target price on Global Payments from $165.00 to $155.00 and set a “buy” rating on the stock in a report on Wednesday, September 25th. Finally, B. Riley cut their price target on Global Payments from $204.00 to $194.00 and set a “buy” rating for the company in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and seventeen have assigned a buy rating to the stock. According to data from MarketBeat, Global Payments currently has a consensus rating of “Moderate Buy” and an average target price of $138.55.

Global Payments Price Performance

Shares of GPN traded down $0.65 during trading hours on Wednesday, reaching $110.32. The company had a trading volume of 368,187 shares, compared to its average volume of 2,247,756. 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 has a 12-month low of $91.60 and a 12-month high of $141.77. The firm has a 50 day simple moving average of $110.60 and a 200-day simple moving average of $104.81. The company has a market capitalization of $28.08 billion, a price-to-earnings ratio of 20.78, a PEG ratio of 0.90 and a beta of 1.00.

Global Payments Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 27th. Investors of record on Friday, December 13th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 0.91%. The ex-dividend date of this dividend is Friday, December 13th. Global Payments’s dividend payout ratio (DPR) is currently 18.83%.

Insiders Place Their Bets

In related news, Director Robert H. B. Baldwin, Jr. acquired 5,800 shares of the business’s stock in a transaction on Friday, December 13th. The shares were bought at an average cost of $116.00 per share, with a total value of $672,800.00. Following the completion of the transaction, the director now directly owns 42,738 shares of the company’s stock, valued at $4,957,608. This trade represents a 15.70 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Global Payments

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Pzena Investment Management LLC boosted its position in Global Payments by 3.4% in the 3rd quarter. Pzena Investment Management LLC now owns 6,638,862 shares of the business services provider’s stock valued at $679,952,000 after buying an additional 215,399 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of Global Payments by 0.5% in the third quarter. Geode Capital Management LLC now owns 5,928,445 shares of the business services provider’s stock worth $605,078,000 after acquiring an additional 31,934 shares in the last quarter. Franklin Resources Inc. boosted its holdings in 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 valued at $564,437,000 after purchasing an additional 83,481 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in Global Payments by 22.7% in the third quarter. Janus Henderson Group PLC now owns 2,646,854 shares of the business services provider’s stock valued at $271,090,000 after purchasing an additional 490,411 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA grew its stake in Global Payments by 65.6% during the 3rd quarter. Massachusetts Financial Services Co. MA now owns 1,982,496 shares of the business services provider’s stock valued at $203,047,000 after purchasing an additional 785,539 shares in the last quarter. 89.76% of the stock is 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.